QA Webinar From Fannie
Seller/servicers for the Federal National Mortgage Association can attend a free online webinar about the system that handles quality assurance reviews and resulting repurchase demands.
The Quality Assurance System at Fannie Mae tracks the status of loan files for loans that the secondary lender selects for quality assurance underwriting review.
Seller/servicers can view and respond to the Washington, D.C.-based company's requests for loan files and missing documents.
Risks, Benefits of Broker-to-Correspondent Conversion
Mortgage brokers that transition to a correspondent lender can earn more, close more quickly and improve their image. But there is a cost to making the conversion. One of the most difficult steps in the process is securing a warehouse line.
Closer Look at Proposed LO Compensation Rule
The Consumer Finance Protection Bureau's current proposal for loan originator compensation, while clarifying many aspects of the current rule, also could lead to violations of some state laws, or even Internal Revenue Service codes, according to a recent online event on the subject. The deadline for public comments on the proposal is Tuesday.
Army of HARP 2.0 Service Providers
Mortgage originators targeting refinance prospects for the enhanced Home Affordable Refinance Program can get help identifying prospects, managing capacity issues and complying with program requirements. A wholesale lender is hosting a HARP 2.0 webinar this week, while another company has developed a video for loan prospects.
NMLS Reporting Webinar
Mortgage licensees are getting help with completing required reports through an educational webinar.
Fair Lending Actions Expected to Grow
Two high-profile discrimination lawsuits were recently settled, and experts predict that more such actions are ahead. But there are steps that mortgage firms can take to avoid the costly repercussions from related regulatory actions and litigation.
Cordray Addresses Mortgage Brokers
The man in charge at the federal regulator that oversees consumer financial transactions, including mortgages, participated in a webinar with mortgage brokers. He talked about the loan originator rule, integrated disclosures and licensing disparities between mortgage brokers and mortgage bankers. A rule that covers some of the concerns discussed, including appraisal issues, is expected to be finalized early next year.
Ginnie to Cover Updates at Online Event
Issuers of mortgage-backed securities guaranteed by the Government National Mortgage Association will have a chance to learn about program updates at an upcoming online event.
Clarification on LO Comp Has Lenders Scrambling
A concept introduced at a Federal Reserve Webinar on the loan officer compensation rule has lenders rushing to comply with next month's deadline. The Fed also addressed yield spread premiums, clarified compensation to mortgage brokers with multiple locations and offered an alternative to borrower-paid fees.
Mortgage Compliance Update
Several resources have been made available to help mortgage firms comply with complex new regulations and legislation. The media are available in multiple formats including Webinars, audio conferences and white papers. Traditional service providers are also touting their solutions.