Unnecessary Flood Disclosures?

  Article by: Ben Giumarra, Spillane Consulting Associates, Inc Could you gain some efficiencies with how your making certain Flood disclosures? Let's discuss what's required (and not).  So today we continue our war against disclosure packages bogged down with unnecessary stuff. One page, sometimes one sentence, at a time. It might not seem like a lot - but #1) removing one disclosure might remove 2 hours of back-and-forth with a borrower getting an unnecessary signature, and … [Read more...]

Simplified HMDA Data When Applicant Declines to Report GMI

We in the regulation, I mean mortgage, industry are all teaching ourselves about the new HMDA requirements. One particular issue that may catch your attention is the more nuanced demographic information to be collected, and how to get that right - especially when based only on visual observation.  I'm guessing this will be a big training topic this year. So let's break it down! "Disaggregated" Data Soon HMDA will require us to collect "disaggregated" demographic information. … [Read more...]