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  • What are the Major HMDA related changes and When Do They Go into Effect?
    A number of things are changing with the new rule that impacts process, workflow, and fields. The amount of data collection required is significantly increasing, above and beyond the original Dodd Frank mandate. The way you report that data is changing as well, with HELOC and Denial Reasons moving from optional submissions to required data […]
  • HMDA Data - what it includes
    What are HMDA data? HMDA data cover home purchase and home improvement loans and refinancings, and contain information about loan originations, loan purchases, and denied, incomplete or withdrawn applications. With some exceptions, for each transaction the lender reports data about: • the loan (or application), such as the type and amount of the loan made […]
  • Happy New Year - HMDA Primer
    As we begin a new year - thought we might be able to start with an article about a topic that is going to be talked about a lot in 2018 as a result in changes made to Dodd-Frank. So, what is the Home Mortgage Disclosure Act (HMDA)? HMDA, enacted by Congress in 1975, requires […]
  • Mortgage rates rise slightly, but a bigger increase is possible
    Mortgage rates ticked up this week, but a larger rise is possible next week depending on what Congress does about tax reform and the budget.30-Year FRM15-Year FRM5/1-Year ARMAverage Rates3.94%3.36%3.35%Fees & Points0.50.50.3MarginN/AN/A2.75The 30-year fixed-rate mortgage averaged 3.94% for the week ending Dec. 7, up from last week when it averaged 3.9%, according to Freddie Mac. A year ago […]
  • Impact of proposed cut in taxes
    Small businesses which form the back bone of the economy will definitely cheer the cut on tax rates from 35% to 20% as proposed by President Trump but the proposal to reduce the deductions to simplify tax code will definitely come as a jolt to people at least in the initial stage before the reduced […]
  • Nonbank mortgage employment soars on brighter origination
    As per Mortgage New, Nonbank mortgage employment rose for the fourth consecutive month in June, as loan production during the second quarter was higher than expected at the start of the year.Nondepository mortgage lenders and brokers added 5,000 jobs in June, bringing total employment to 341,000 from a revised 336,100 for May, according to the […]
  • MBA: Mortgage Applications Rise after two weeks of decline.
    After two weeks of decline, mortgage applications rose to 5.8% as per the latest data collected by Mortgage Bankers Association’s Weekly Mortgage Survey for the week ending Feb 24th,2017.Despite the record low activity in refinance applications as interest rates remained above 4%, Mortgage applications managed to increase. The refinance share of mortgage activity decreased to […]
  • Fed Rate Hike? Whatever, Mortgage Rates Are Already Up
    According to, The surge in mortgage rates since the November election is expected to offset the increase to lenders' short-term funding costs following the Federal Open Markets Committee's 25-basis-point increase to the federal funds rate Wednesday. The federal funds rate doesn't directly affect the interest rates that borrowers pay on home loans, as mortgage […]
  • Women better at paying their mortgages than men? Hell ya ...
    This seems quite intuitive - but here it is backed up with some data.Women are far better than men at paying their mortgages on time; shows a new report from Attom data solutions. It says that women are better with financials in general. Women, when compared to men, are less likely to go into a […]
  • Mortgage Applications rise 0.6% from last week; Refinance applications dips 1% from last week.
    Mortgage applications increased 0.6 percent from last week and is a 13 percent higher than what it was the same week a year ago. Apparently mortgage interest rates are not scaring potential homebuyers. Though home sales are slowing down, the reason why we see an increase in mortgage applications activity is because there are more […]