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Archive for the ‘MCA Blog’ Category
07
2012
MCA Monthly Compliance Update – May 2012
30
2012
MCA Monthly Compliance Update – April 2012
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Pre-Funding QC is your last chance to correct any errors before closing. There is limited time once a loan is closed and funded to determine if it is the loan that you thought you closed and funded. Although post-close QC is vital to improve loan quality, performing such process doesn’t actively reduce loan defect risks. Verifying loan data quality before the loan is delivered is imperative to the success of your firm’s overall QC and compliance programs. Learn why agencies and investors are requiring Pre-Fund reviews, and how performing this proactive QC process could help your organization.
Title: Prioritize QC with Pre-Funding Date: Thursday, April 19, 2012 Time: 1:00 PM – 2:00 PM MDT How much does it cost? This webinar is FREE. Who should attend? This FREE webinar is designed for mortgage compliance professionals. Feel at a convenience to forward this registration link to your colleagues who also work in QC and compliance. Have questions? If you send us your questions, we will try to incorporate the answers into the presentation. Please email your questions to info@mortgagecomplianceadvisors.com. We will also answer any questions that may arise after the presentation. Where can I get a copy of the slides? You will receive a link to the slides in a reminder email sent ONE HOUR before the webinar starts. You can also find slides from our previous free webinars on our website under the News & Resources tab. |
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08
2012
MCA Monthly Compliance Update – March 2012
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Feel free to call us with any questions at 877-226-3216 or reply to this email. |
03
2012
MCA Monthly Compliance Update – February 2012
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23
2012
Proposed QRM Rule Causes Strife
A new regulatory proposal is set to require a minimum down payment of 20 percent on Qualified Residential Mortgages (QRM). It is suggested that this proposal down payment requirement provides as a direct hindrance to first-time home buyers, working class borrowers, and minorities. The 20 percent requirement will make it more expensive and difficult for qualified borrowers to attain home ownership. The MBA, and assumably many others, are fighting to eliminate the down payment requirement altogether, before the rule is finalized. Isn’t the idea to make home ownership affordable and attainable? This QRM proposal certainly doesn’t help this value. Find out more information at NationalMortgageNews.com.
According to a forecast from Moody’s Investor Service, residential loan modifications will reportedly decline in 2012. If the forecast proves correct, then this will be the second straight year that loan modifications have plummeted. Moody’s report also shows that when borrowers are not eligible, or re-default on their modifications, short sales will increase. What impact will an increase in short sales have? Well, the report claims that rising short sales will reduce liquidation timelines, and stabilize loss severities. With the overwhelming number of defaulted loans, should we expect better in 2012′s housing market? MortgageServicingNews.com
11
2012
MCA Monthly Compliance Update – January 2012
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30
2011
GSE Guarantee Fee Hike Debut April 1
After the Federal Housing Finance Agency directed GSEs, Fannie and Freddie, to implement a mandated increase in their loan guarantee fees – you can surely expect it… April 1, 2012. The payroll tax cut extension bill passed by Congress on Dec. 23 requires that GSEs charge an average g-fee in 2012 of at least 10 basis points higher than in 2011. The bill also prompts the GSE regulator to adjust the g-fees so all lenders pay the same fee. The legislation plans to give FHFA two years to implement a uniform fee structure.
Yesterday, National Mortgage News shed light on FHFA’s proposal that would pay loan processors $10 per month for performing loans. However, this proposal seems to contradict the new advances being made to gradually detach mortgage banking from government involvement; therefore, the Mortgage Bankers Association is urging the government not to change the current GSE servicing compensation model. Where government support regarding housing finance will go, we shall wait to see. To read in more detail, visit NationalMortgageNews.com
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