Entries by Progress In Lending

Understanding The News: Many Lenders Miss The Boat When It Comes To Quality Control

*Many Lenders Miss The Boat When It Comes To Quality Control*
**New Research Reveals Critical Flaws**

***The flight to quality is a big concern in the mortgage industry. Especially with all the increased scrutiny from investors and regulators, lenders have to do everything possible to originate quality loans. New data that PROGRESS in Lending got from Interthinx shows that existing quality control programs may not be going far enough. Interthinx has identified two major defects in the outsourced Quality Control programs of lenders that affected residential mortgage loan files in 2011 and may pose significant risk in 2012. Here’s the scoop on their findings:

Understanding The News: Integration Aims To Stop Fraud

*Integration Aims To Stop Fraud*
**A New Alliance Forms**

***ProLender Solutions, Inc., a paperless mortgage lending software, has launched a new interface with the DataVerify DRIVE risk mitigation system. The interface will allow ProLender users to access the DRIVE platform to verify borrower and property information to aid in detecting possible loan fraud. Because the two systems work together seamlessly, ProLender users will save time and avoid possible data entry mistakes.

Video Insights: Talking Loan Quality

*Talking Loan Quality*

***Everyone talks about the importance of loan quality, but what does it mean? Over 125 mortgage executives gathered at PROGRESS in Lending’s ENGAGE 2011 industry event. They talked about real issues and solutions. A panel composed of distinguished technology vendors, service providers and lenders discussed how you can truly produce better quality loans today. Here’s what they said:

Understanding The News: Putting Together A Fraud Detection Think Tank

*Putting Together A fraud Think Tank*
**Solving Real Issues**

***CoreLogic, a provider of information, analytics and business services, today announced its Winter 2012 Mortgage Fraud Consortium Members’ Meeting beginning January 23, 2012. The three-day meeting is a unique, member-driven forum that invites lenders responsible for more than 80 percent of U.S. mortgage originations to discuss emerging mortgage fraud trends, interact with industry experts and share best practices. The Consortium is a cooperative initiative of the industry’s top mortgage lenders formed for the purpose of jointly understanding, detecting, and preventing mortgage fraud more effectively than each lender can individually.

Magazine Column

*Your Voice: Heightened Foreclosure Levels* **By Joseph Badalamenti** ***In response to heightened levels of foreclosures, leading field service providers are strengthening their service offerings along multiple fronts. Though many are seeing increases in base business, long-term success will increasingly favor those with the infrastructure, innovative technology and broad-base expertise needed to deliver comprehensive, end-to-end solutions. […]

Magazine Column

*Recovery Tips: Changing Origination* **By Jeff Wirsing** ***“If we don’t change direction soon, we’ll end up where we’re going!” That quote is attributed to 97 year old comedian “Professor” Irwin Corey who bills himself as “The World’s Foremost Authority!” ****As we step back and look at the economic climate of the U.S. in 2011 those […]

Magazine Cover Story

*Get More Business Online* **Executive Interview** ***The Mortgage Bankers Association expects to see mortgage originations fall from an estimated $1.2 trillion in 2011 to $900 billion in 2012. The drop will be driven by a significant decline in refinance originations, while purchase originations will increase only slightly. The economy will see another year of anemic […]

Magazine Feature Story

*Life in the Cloud* **By Martin Williams** ***Many people in the mortgage industry today are hearing and reading about cloud technology without having a clear understanding of what it is and what it means for their business. All they know is that “the cloud” is where they need to be. ****Those of us with some […]

Magazine Feature Story

*Putting Faith Back in Mortgage* **By Cathy Blaszyk** ***The industry is tasked with improving disclosures to consumers to ensure they have all information needed to make informed decisions. The key is to prevent further complicating the process. ****Let’s examine the decision to combine the information represented on the mortgage disclosures. Under the Dodd-Frank Act, the […]

Magazine Feature Story

*Innovators And Entrepreneurs* **By Barbara Perino and Rebecca Walzak** ***In today’s world of mortgage lending, one must find a way to survive. While some lenders dig in and wait for the worst to pass, with the regulations to be issued and the lawsuits to be settled, there are others that look forward to where the […]