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Landlord to Pay $63M in Alleged Ponzi Scheme

Landlord to Pay $63M in Alleged Ponzi Scheme

Wednesday, 05 February 2020
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A court has approved the distribution of more than $63 million to investors in New York real estate developer Robert Morgan’s allegedly fraudulent real estate investment scheme, the Securities and Exchange Commission has announced. Read more...
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Ask The Expert: Should I Start My Own Mortgage Business?

Ask The Expert: Should I Start My Own Mortgage Business?

Friday, 31 January 2020
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Irv from New York asks: I have been studying the mortgage business for some time now, as I intend to make a career change in the near future. I am excited by the idea of helping people to purchase or refinance their homes while making a decent living for myself. I would be more interested… Read more...
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Black Knight: 9.4M Refi Candidates in the Market

Black Knight: 9.4M Refi Candidates in the Market

Wednesday, 29 January 2020
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We remain in an environment where even slight changes in interest rates–in either direction–can have an outsized impact on the number of refinance candidates. Read more...
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CFPB Letter Signals Changes to QM Rule

CFPB Letter Signals Changes to QM Rule

Sunday, 26 January 2020
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Kathy Kraninger, Director of the Consumer Financial Protection Bureau, recently sent a letter to Congress outlining the Bureau’s plan for a revised Qualified Mortgage (QM) Standard. Read more...
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Lawyer Gets One Year in Prison for Mortgage, Tax Scams

Lawyer Gets One Year in Prison for Mortgage, Tax Scams

Thursday, 30 January 2020
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A prominent New Jersey lawyer has been sentenced to one year and one day in prison on his conviction for making false statements in a bank loan application and failing to pay over payroll taxes withheld from employees, according to federal prosecutors. So reports InsiderNJ. Read more...
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Banks That Spend More on Tech Make Better Loans: IMF

Banks That Spend More on Tech Make Better Loans: IMF

Sunday, 26 January 2020
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Banks with bigger information technology budgets fared better during the global financial crisis, according to a new working paper from the International Monetary Fund. So reports Quartz. Read more...
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Ex-Wells Fargo CEO Fined $17.5M for Fake-Accounts Scandal

Ex-Wells Fargo CEO Fined $17.5M for Fake-Accounts Scandal

Tuesday, 28 January 2020
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Former Wells Fargo CEO John Stumpf will have to pay a $17.5 million fine for running the bank while it opened millions of fake accounts. So reports USA Today. Read more...
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Training and Coaching: How to Keep the Right Staffers

Training and Coaching: How to Keep the Right Staffers

Thursday, 23 January 2020
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The second most important management rule is keeping the right people. Thus, the key word here is support. Read more...
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Voice Assistants: The Next Great Tool for Originators

Voice Assistants: The Next Great Tool for Originators

Wednesday, 22 January 2020
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While artificial intelligence is often referenced in the media and trade papers, AI sounds more like something from Star Trek and not a practical tool for helping salespeople. Nothing could be further from the truth, especially considering the rampant growth of voice-controlled technology. In 2019, there were an estimated 3.25 billion digital voice assistants in… Read more...
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What Will the Future of Underwriting Look Like?

What Will the Future of Underwriting Look Like?

Friday, 24 January 2020
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Imagine a future where mortgage origination happens in a matter of hours. Even though it might take some time, technology is rapidly progressing, and this future might be closer then you think. [caption id="attachment_14060" align="alignright" width="232"] J. Christian Olin, Vice President, Direct Lending, On Q Financial[/caption] Read more...
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