How to Ensure Mortgage Compliance & QC Success in 2022
Learn what new mortgage QC compliance challenges are expected in 2022, from appraisal waiver increases to cybersecurity to personnel shortages.
“Flexible Enforcement” Comes to an End for Mortgage Servicers
Regulatory flexibility put in place to ease the burden on mortgage servicers trying to help borrowers during the pandemic has been lifted.
Mortgage Forbearance Exits 101: How Servicers can Better Assist Borrowers Exiting Forbearance
Forbearance programs are ending, correspondence volumes are rising, and the CFPB is watching. Learn how to overcome these challenges.
The New Universal Residential Mortgage Application
Are You Ready for the New URLA? Starting January 2018, the newly redesigned uniform residential loan application (URLA) – also known as Fannie Mae Form 1003 – will have a cleaner look with more white space and a defined separation of borrower and lender information. It has also been updated so that it is compliant…
TRID Rule Triggered Most 2016 Mortgage QC Headaches
MetaSource Study Finds 12 of Top 15 QC Issues Were TRID-Related Salt Lake City—Mortgage lenders found the federal “Know Before You Owe” mortgage disclosure rule—formally known as TRID—to be the source of most of their quality control (QC) headaches in 2016, the first full year of the rule’s implementation. TRID accounted for 12 of the…
CFPB: 9 New Rules for Mortgage Servicers
The Consumer Financial Protection Bureau (CFPB) recently issued a final rule for mortgage servicers. The intention is to protect struggling borrowers, surviving family members and borrowers in bankruptcy from the threat of a swift foreclosure. The new rule also protects homeowners when their mortgage is transferred to another servicer. The following is an overview of…
Important TRID Update: Rules Revisit Coming
On Thursday, April 28, the Consumer Financial Protection Bureau (CFPB) issued a letter to mortgage industry trade groups regarding TRID compliance and the “Know Before You Owe” rule as a result of feedback received before and during the recent 2016 Mortgage Bankers Association (MBA) conference. CFPB TRID Comments Here is an excerpt from the CFPB…
Prefunding QC Audits: It’s All About the Data
About The following content is intended to emphasize Prefunding QC as a proactive QC process vital to improve loan and credit quality. This White Paper is purposed to define the importance of verifying loan data quality before the loan is delivered to the investor, and to convey Prefunding QC as paramount in actively reducing loan…