Category Archives: Lending

Regulatory and Compliance Update with Shawn Telford and Neil Olson

The following is a discussion between Shawn Telford, Managing Director, and Neil Olson, General Counsel, as part of FNC’s July 9 webinar on Regulatory & Compliance Updates.

Neil Olson: Regulations are still in motion, even though it’s summer.

Shawn Telford: The MISMO cutover will happen on Sunday. We’re prepared and ready. UCDP warnings and hardstops – GAAR® is in place to help you as part of your… Continue reading

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FNC Index: Home Prices of Normal Sales Up 0.4% in January

Oxford, Miss. (Mar. 13, 2014) – The latest FNC Residential Price Index™ (RPI) shows U.S. home prices have gotten off to a positive start in 2014, rising a modest 0.4% in January. The index, constructed to gauge the price movement among normal home sales exclusive of distressed properties, indicates home prices of the underlying housing market continue to strengthen as market fundamentals and credit conditions continue to improve. The index… Continue reading

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How to Spend Less of your Profit on Collateral Compliance

I have been hearing a great deal of noise lately about the increasing cost of compliance in mortgage lending. There has always been a cost associated with compliance, but the seemingly unprecedented quantity of new regulation coupled with a new regulator has created a new reality. The patterns of the past can’t be used to make sense of the future. Projects with Dodd-Frank in the title abound throughout the lending… Continue reading

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January is the Month of New Beginnings, Part 2

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TILA Appraisals for Higher-Priced Mortgage Loans (Regulation Z)

The Dodd-Frank Wall Street Reform and Consumer Protection (Dodd-Frank) Act created several new categories of loans. One of those categories is “higher-risk mortgages.” Just to be confusing, “higher-risk mortgages” are called “higher-priced mortgage loans” or HPML in the regulations. In addition, they are not the same as the “High-Cost Mortgage”… Continue reading

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January is the Month of New Beginnings, Part 1

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My, how they have been busy. The Consumer Financial Protection Bureau (CFPB) has an entire wagonload of regulations going into effect in January. If you are a mortgage lender, this has been hard to miss.

Arising from the mandates of the Dodd–Frank Wall Street Reform and Consumer Protection Act (or Dodd-Frank) the CFPB issued a wide-ranging set… Continue reading

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The Importance of being Earnest: Data Verification in Appraisal Compliance.

When the Home Valuation Code of Conduct (HVCC) was instituted, many lenders began outsourcing their appraisal procurement and other collateral valuation process to AMCs as they felt it was easier to stay in compliance using a third party.  Putting it simply, HVCC was intended to increase oversight and eliminate improper pressure and relationships between lenders and appraisers. Since the advent of the HVCC, now replaced by the very similar Appraiser… Continue reading

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FNC Index: U.S. Home Prices Up 0.4% in March

The latest FNC Residential Price Index™ (RPI) shows the U.S. housing market continued to recover, recording in March the 13th consecutive price increase. In recent months, the ongoing housing recovery has maintained its pace with steady and persistent gains in home prices despite signs of continued job market weakness and soft economic growth.

Low interest rates continue to be a key driver of rising housing demand. The market… Continue reading

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Lenders Loosen Up…With Luxury Buyers

Demand for new mortgages is finally revving up—among big spenders, anyway.

Home sales using a jumbo mortgage had year-over-year growth of 7.9% through September, compared with 2.7% for nonjumbo sales, according to an analysis for The Wall Street Journal by mortgage-technology company FNC.

It’s the latest sign that jumbo loans, defined as $417,000 and up in most places ($625,500 and up in high-cost areas), are boosting sales of… Continue reading

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Vlog Time: FNC’s Value Proposition

What do FNC’s Collateral Management System® and our ports do for lenders? FNC cofounders Bill Rayburn and Bob Dorsey discuss.

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Guest Post: Holy Foreclosure, Batman! (The Dangers of Risk Layering)

Today’s guest post comes from Robert Katula, who blogs at Under the Blue Tarp.

The Federal Reserve must be sick and tired of the housing crisis. Chairman Ben Bernanke made it perfectly clear during yesterday’s press conference that housing is THE headwind slowing down the economy. Little does the Federal Reserve know that the Scales of Justice, as a metaphor, is one of the main reasons behind… Continue reading

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