TRID Tips on Speeding-Up Closing

TRID Tips on Speeding-Up Closing   Who has time to waste?  Take Alec Baldwin's advice from Glengarry Glen Ross and "Always Be Closing"   Mistakes happen when you're rushing through a stressful or complicated scenario. Just ask the bank robber who used a personal check as a robbery note (yes, they caught him almost immediately). But speed is essential to a successful mortgage operation. With that in mind, here are some ideas for safely speeding up your … [Read more...]

Understand which vendors need extreme vetting per CFPB

Which vendors require due diligence, written contracts, and all the rest?    CFPB-regulated institutions are required "to have an effective process for managing the risks of service provider relationships."  See CFPB Bulletin 2016-02.  I know, I know, you're thinking Cash me ousside, howbow dah? - but let's be reasonable.As we depend heavily on 3rd parties, it's important to understand who falls under this umbrella: settlement agents? LOS providers? call centers? VOE … [Read more...]

Dodging HMDA-applicability on pre-approvals under the new rules

  Dodging HMDA-applicability on pre-approvals under the new rules   It's nice to avoid HMDA reporting requirements when you can, for example by using pre-qualifications instead of full pre-approvals. But how exactly can you do this when the new rules take effect?          As my colleague Tom pointed out Monday morning, productivity for this week in New England suffered a blow on Sunday night. But … [Read more...]

Golf Tournaments Raises Funds and Awareness for the American Cancer Society

Rumford, Rhode Island; August 2015 – The Rhode Island Mortgage Bankers Association (RIMBA) annual golf tournament to raise funds and awareness for the American Cancer Society was a huge success for the 20th year in a row. Held at the picturesque Agawam Hunt private club which marked its official beginning in 1897, the golf tournament took place on August 18 and raised over $1,100 for the American Cancer Society in the name of Patti Slepkow. Patricia (Patti) K. Slepkow of Steamboat Springs … [Read more...]