Challenging Times For America’s Lending Community

Challenges for America's Lending Community

Despite a booming economy, strong consumer confidence and record-breaking stock market, America’s lending community finds itself confronting a wide range of real—and potential—challenges.

The issues facing lenders nationwide present an environment that requires nimble business skills and the ability to adopt to an ever-evolving marketplace.

Near the top of the list of challenges confronting lenders is—not surprisingly—a wide array of both state and local regulations, and the related expenses of ensuring compliance with all of them. Time and again, industry experts point to what they believe to be ‘over-regulation’ as a significant contributing factor to the expense of servicing a home loan. Continue reading “Challenging Times For America’s Lending Community”

The Uncertain Future of Dodd Frank

While it may not be the ‘headline-grabber’ that the Administration’s (for now, failed) healthcare overhaul has been, waiting in the wings for the spotlight remains the President’s long-standing promise of overhauling 2010’s Dodd-Frank financial legislation.

Throughout last year’s campaign, and on into this past spring, President Trump promised that an overhaul of the controversial legislation was on the horizon; in the spring, the President described the changes as “a very major haircut”. In late April, the President went even further, suggesting to a gathering of CEOs that a full repeal of Dodd-Frank remained a possibility. Continue reading “The Uncertain Future of Dodd Frank”

Not Just The Times—But The Credit Reports—Keep A-Changing

Changing Credit Reports | SettlementOne

In a year in which it often feels as though the only ‘constant’ is change, you can add millions of the nation’s credit reports to the list of items undergoing transformation in 2017.

While the majority of Americans won’t be affected by these changes, it has been estimated by FICO that between 6-7% of individuals with current credit scores will see their credit reports altered as a result of the removal of tax liens and civil judgments from their reports. Continue reading “Not Just The Times—But The Credit Reports—Keep A-Changing”

Rising Number of Mortgage Applications Signals Housing Recovery

Increase in Mortgage Applications 2017

An increase in the number of mortgage applications means that the housing crisis that played such a major role as both a cause—and effect—of the Great Recession continues to fade into the nation’s rearview mirror.

Even rising interest rates have not, as yet, kept many potential homebuyers from considering a home purchase; as an example, mortgage applications increased almost 1.5 percent in the final week in June. Continue reading “Rising Number of Mortgage Applications Signals Housing Recovery”

An Expert’s View Of The Lending Industry Circa 2017

SettlementOne Q and A With Embrace Home Loans' Kurt Noyce

As any member of America’s lending community knows all too well, achieving—and maintaining—success in 2017’s volatile financial environment is shaping up to be quite a challenge.

From a multitude of promised regulatory revisions to rising interest rates, the lending industry is facing a number of critically important issues, all of which have the potential to dramatically impact lenders’ bottom lines. Continue reading “An Expert’s View Of The Lending Industry Circa 2017”

Philadelphia vs Wells Fargo: Allegations of Discriminatory Lending Practices

Philadelphia sues Wells Fargo for discriminatory lending.

Over the last few years, Wells Fargo has faced some very difficult challenges—primarily of its own making; most prominently, Wells former CEO resigned after the company was accused by regulators of establishing over 3 million accounts for customers without their consent. Continue reading “Philadelphia vs Wells Fargo: Allegations of Discriminatory Lending Practices”

Awaiting The Return of the Mortgage Giants

Almost a decade after the collapse of the American housing market—and the subsequent arrival of the Great Recession—there remains a good deal of ‘collateral damage’ that has yet to be fully repaired by the nation’s economic recovery.

With the arrival of a new Administration in Washington, and expectations running high about forthcoming deregulation of the financial services and lending industries, one of the remaining vestiges of the Great Recession—the absence of the largest banks from the mortgage business—may also soon come to an end.

Continue reading “Awaiting The Return of the Mortgage Giants”

Mortgage Credit On The Rise

mortgage credit, home loans
Mortgage Credit increasing

While both the calendar year—and the new Administration—is still in their respective nascent stage, early signs seem to indicate that mortgage credit is becoming more readily available this year.

The economic signposts seem to indicate that after a prolonged period of relatively tight credit, the mortgage credit market may be experiencing an easing.

Continue reading “Mortgage Credit On The Rise”