Verification of Insurance: Slowing Down the Buying Process


Verification of insurance is a requirement that many mortgage borrowers will face in the coming months. That’s because Fannie Mae has increased the…

Default Management: Digging Deeper to Reduce Risk


Default management is the one area every financial institution focuses on with each loan application that lands in its desks. Managing default is rarely…

FHA Expands Acceptance of eSignatures

FHA eSignature

The Federal Housing Administration (FHA) recently expanded its acceptance of electronic signatures (eSignatures) on documents associated with mortgage loans.  The new policy allows for eSignatures on origination, servicing and loss mitigation documents, as well as FHA insurance claims, REO sales contracts and related addenda.  eSignatures are still not allowed on the mortgage note itself, but [Read More...]

Common Red Flags for Risky Borrowers


While you hope that every borrower is a solid prospect, the truth is that some borrowers can leave a lot to be desired in the mortgage arena. While a…

Expedite the Mortgage Verification Data Process With Equifax Spectrum


In the wake of the 2008 financial crisis, mortgage professionals all over the U.S. saw the strait forward process of qualifying the borrower, collecting…

Improve Mortgage Portfolio Management with Custom Risk Scoring Models


Are you concerned about your mortgage book of business? A portfolio heavily weighted with high-risk mortgages is a liability to a financial institution,…

VOHI Is Essential but Not Easy for Many Lenders


VOHI, or verification of hazard insurance, is a critical step in the credit lending process, but making sure you have the right coverage isn’t easy.

FHA Guidance on eSignatures a Close Match to Industry Practices


The Federal Housing Administration (FHA) now accepts electronic signatures (eSignatures) on many more loan documents based on a set of guidelines that closely track industry-standard best practices.  Effective immediately, the Federal Housing Agency (FHA) will accept eSignatures on servicing and loss mitigation documents, as well as IRS Form 4506-T, FHA insurance claims, REO sales contracts [Read More...]

Low- and High-Risk Whole Loan Selection: Getting a Clear Picture


Profiling whole loan pools is an essential process for today’s lenders. Lenders must make wise credit-lending decisions.

The Qualified Mortgage and Ability to Repay Rule is Here. Are You Covered?


On January 10, 2014, comprehensive verification of income and employment by mortgage lenders shifts from being a strong suggestion to becoming a regulatory requirement from the CFPB. Though these new compliance standards are creating uncertainty and anxiety within the mortgage industry, the underlying intention has the best interests of lenders and buyers at heart by [Read More...]