Vicki Bott Speaks to MBA Committee

Posted by Krista Sabol on Oct 25, 2010 in FHA 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...
read more

97th MBA Convention, Atlanta Panel of Industry Experts

Posted by Krista Sabol on Oct 20, 2010 in Operations, Processing 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...
read more

What do FHA approval and LO compensation have in common?

Posted by Krista Sabol on Oct 20, 2010 in FHA, FHA/VA 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...
read more

How Many Loans by Processors?

Posted by Krista Sabol on Oct 6, 2010 in IMU Blog, Processing 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...
read more