Entries by Progress In Lending

Video Insights: Charting A Path To Success

*Charting A Path To Success*
**Industry Insiders Speak Out**

***In this edition of the PROGRESS in Lending Association Video Newscast, it’s all about helping lenders grow their business. First, Straight Talkers Roger Gudobba and Kelly Purcell chat about how lenders can take a page from Steve Jobs to ensure success. Following that, Brian Bates at Wilson & Muir Bank & Trust Co. discusses how his company has grown their online channel and increased pullthrough using a new LOS. Also, Michael Hammond of NexLevel details how you can develop the most compelling call to action through using the Internet and e-mail to the fullest. Watch all this and more.

Understanding The News: Avoid Risk, Know The Subject Property Better

*Avoid Risk, Know The Property Better*
**Partnership Makes Property Visibility Easier**

***One leg of making a good decision about a loan is knowing everything there is to know about the property. So, how do you do that? It just got easier. CoreLogic, a provider of information, analytics and business services, and California Regional MLS (CRMLS), the nation’s largest multiple listing service (MLS) provider, today announced that CRMLS has joined Partner InfoNet by CoreLogic. The companies also announced that CRMLS has agreed to a multi-year extension of its Matrix MLS system contract.

Understanding The News: The CFPB Concerns Most Lenders

*The CFPB Concerns Most Lenders*
*Research Reveals Compliance Woes**

***The Consumer Financial Protection Bureau has made designing a new disclosure form that combines the Truth in Lending Disclosure (TIL) and Good Faith Estimate (GFE) a top priority in 2012. The pending reform also ranks as lenders’ greatest compliance concern according to QuestSoft’s fourth annual compliance survey. What else are lenders concerned about? Here’s the full details:

Understanding The News: Can You Calculate How Much Your LOS Saves You?

*Can You Calculate How Much Money Your LOS Saves You?*
**A New Report Quantified LOS ROI**

****Lenders never seem to be happy with their loan origination systems. And they’re right to be upset. Many LOS systems on the market are based on old technology and hinder the lender from truly advancing. Lenders become hostages to their LOS. Nonetheless, lenders need an LOS. So, how do you quantify the true return on investment? Origination vendor Blueberry Systems LLC released the independent findings of a MarketWise Advisors’ detailed ROI Analysis of the implementation of its RELAY loan origination system at Plano, TX based Starkey Mortgage. Here’s what the report found:

On The Move: Hiring Mind Share And Market Share

*Hiring Mind Share And Market Share*
**Strategic Hires Dominate The News**

***Many may see this as a time to retrench. But that won’t prepare your company for the future. Companies like Equator get that message. “From government modification and refinance programs to shadow inventory, the servicing segment is facing challenges it couldn’t have imagined five years ago,” said Chris Saitta, CEO of Equator. “There is a great opportunity for us here and we are confident that Anna and Chuck will play a big role in helping us further our growth and expansion.” As a result, here’s the scoop on the new hires at Equator and a top lender:

Understanding The News: New Website Builds On Clayton’s Reach

*New Website Expands Clayton’s Reach*
**The Power Of The Web Continues**

***Clayton Holdings LLC, a provider of due diligence, underwriting, surveillance and default servicing to the residential and commercial mortgage and fixed-income industries, announced today that it launched its redesigned website. The company said that it designed the new site to better align it with the services that Clayton is currently providing to mortgage servicers, originators, commercial banks, investors, hedge funds and credit unions. Here’s the full story:

Understanding The News: Good News On Delinquencies

*Good News On Delinquencies*
**New Data Shows Improvement**

***According to Equifax’s March National Consumer Credit Trends Report and Creditforest.com, a joint product of Equifax and Moody’s Analytics, total delinquent first mortgage balances are under $500 billion in March 2012, the lowest since Jan. 2009. As of March 2012 there were a total of 49.5 million outstanding first mortgages, nearly an 11% decrease from the peak of more than 55 million in March 2008. The decline is caused by high foreclosures and loan payoffs and low homebuyer demand. Of delinquencies within existing home equity credit lines, an overwhelming 79% come from loans originated from 2005 to 2007. The number of revolving home equity loans is at a five-year low, with 11.6 million outstanding as of March 2012. Credit levels are also continuing to drop, falling 25% from the peak of $1.3 trillion in 2008. Other highlights of the data include:

Understanding The News: Research Shows That Fraud Concerns Are Mounting

*Research Shows That Fraud Concerns Are Mounting*
**Industry Sees Fraud Rising**

***Ernst Publishing Company, a specialist in land recording requirements for almost two decades and processing more than 120,000,000 transactions annually, recently released the results of a title industry survey, revealing thoughts and perceptions held by industry insiders regarding mortgage fraud. The survey touched about 9,000 industry participants, many of whom provided detailed answers. And what they had to say about the state of mortgage fraud was not encouraging. Here’s the scoop:

Technology Spotlight: Tech Equals Higher Customer Satisfaction

*Tech Equals Higher Customer Satisfaction*
**Mortgage Network Profiled**

***Mortgage Network, Inc., an independent mortgage lender, has released the results of their March 2012 Customer Satisfaction Survey showing that over 99% of March’s borrowers would use Mortgage Network again. It also concluded that over 99% would recommend a friend, a standard that Mortgage Network, Inc. states is even harder to meet. In addition, March was an all-time record for retail fundings for the company. Here’s why: