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Legislative Update – Jan 25, 2016

Listen to Alice’s Weekly Legislative Update segment on the Lykken on Lending Blog Talk Radio program. http://mortgage-u.com/wp-content/uploads/2016/03/LOL_012516_alice.mp3
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Texas Mortgage Bankers Association Warehouse Conclave

QM vs. Non QM Panel Alice Alvey, Senior Vice President, Indecomm-Mortgage U has been invited to speak at The Warehouse Conclave which will be held on November 19 from 2:00 PM to 5:00 PM at the Westin Houston Memorial City in Houston, Texas. The Conclave is part of the Texas Mortgage Bankers Association’s (TMBA) 64th Annual Educational Seminar & Marketplace, which runs through November 20....
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2011 Bills We’re Watching

H 363: Forced Refinance Provisions For Fannie/Freddie Status: Introduced 1/20/11 The formal name of the bill is ‘Housing Opportunity and Mortgage Equity Act of 2011”. The bill would require Fannie/Freddie to create a     program for qualified mortgages where an appraisal is not required. The servicing fee will be restricted to a maximum of $1,000. H 330:  First Time Homebuyer...
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Mortgage U To Conduct FHA Training For HUD

Indecomm-Mortgage U is proud to announce that we have been selected by Campus MBA, the education division of the Mortgage Bankers Association to conduct FHA training for a team of employees from the Department of Housing and Urban Development. The training will cover an overview of FHA residential, senior housing and hospital programs including renovation lending, reverse mortgages as well as...
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Risk Based Pricing Disclosures Made Easy (?)

Like RESPA in 2010 we are faced with a yearend disclosure that at first can seem relatively straight forward but the details start to make operations managers nervous. The Risk Based Pricing (RBP) policies and disclosures required as of 1/1/11 will need some attention to make sure both the technology and operations have been considered. The regulation requires creditors (therefore not mortgage...
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Vicki Bott Speaks to MBA Committee

The MBA Residential Loan Production committee meeting was held yesterday at the MBA Convention in Atlanta. Vicki Bott, Deputy Assistant Secretary of Single Family Housing Programs spoke at the meeting and provided an important update. FHA’s main focus in 2011 will be oversight of its business partners the DE lenders. Bott said they will be “looking harder and smarter” at the quality of...
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97th MBA Convention, Atlanta Panel of Industry Experts

The 97th Annual MBA Convention is here. We are looking forward to the panel of prestigious experts on the mortgage industry assembled by Solidify for October 26, 2010 in Atlanta. The expert panel includes Pete Taglia, CPA, CMB, Vice President of FTN Financial Capital Assets Corporation whose expertise is loan sale and securitization strategies, asset backed securities and portfolio analysis...
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What do FHA approval and LO compensation have in common?

We are seeing a pattern in the way regulators are communicating their policies to the industry. First let’s look at the FHA lender approval changes. FHA has said that wholesalers are responsible for monitoring that all ‘sponsored correspondents’ (the new term for non-FHA approved companies) are in compliance with FHA requirements. This is a very broad statement and every wholesaler is...
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How Many Loans by Processors?

Alice Alvey President, CMB  Indecomm-Mortgage U, Inc. I have been on a mission asking every customer ‘how many active loans can your processors handle in their pipeline?” As you can probably guess I receive a lot of questions in return trying to qualify the definition of pipeline, processor and if the processor is working overtime. One person asked me if the processor is...
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Processors are a Bridge

A processor’s role has changed dramatically from the first widespread use of computers in the ‘80’s to the paperless task management systems of today. The automated systems moved the industry into thinking processing was an entry level administrative task. It is not uncommon to hear processors say ‘it doesn’t matter what documentation I think I need, the underwriter is going to change...
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