Ready Or Not, Here They Come: Changes To Freddie Mac Investor Reporting

In February 2017, Fannie Mae implemented changes to investor reporting requirements in accordance with new regulations set out by the Federal Housing Finance Agency (FHFA). FHFA’s goal was to increase efficiency for servicers and streamline the reporting process for investors, as well as prepare for the Single Security Initiative (SSI), which is a joint venture between Fannie Mae and Freddie Mac under the direction of FHFA. This initiative aims to develop a common mortgage-backed security to be issued by Fannie Mae and Freddie Mac.

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Now that mortgage servicers have had the opportunity to adequately acclimate to Fannie Mae’s reporting changes, it’s time to prepare for Freddie Mac’s changes. The GSE has been developing its own Investor Reporting Change Initiative (IRCI) with an implementation date of May 2019.  While these changes may still be a way off, the initiative has been in the making for quite some time now, with Freddie Mac beginning work on Phase 1 before Fannie Mae’s changes went into effect early last year.

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Any changes to regulatory standards will have a direct impact on servicers’ operations, requiring modifications to their processes and technologies. So, what do servicers need to know and do to comply with the new Freddie Mac IRCI?

What’s New

While there are many updates referenced in the new regulations, some of the most significant changes include:

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>>The implementation of a standardized industry investor reporting cycle beginning on the first day of the month, as well as a standardized remittance due date for both principal and interest payments across all loans;

>>The ability for servicers to report and adjust loan-level criteria on a daily basis; and

>>The automatic draft of remittance funds from the servicer on the specified remittance due date

Fortunately for today’s servicers, these changes are relatively similar to Fannie Mae’s Changes to Investor Reporting. While there are some similarities, Freddie Mac’s changes also differ in a few ways. Freddie Mac leveraged Fannie Mae’s valuable groundwork as a jumping off point to make it even simpler for servicers who report to both GSE’s to manage the new Freddie Mac changes.

In preparation for the May 2019 go-live date, Freddie Mac has designed numerous training webinars, testing scenarios and documentation to help prepare Freddie Mac servicers for the transition. Training meetings—conducted between a software vendor or service bureau, their customers and a dedicated Freddie Mac representative—also provide servicers with important updates and the opportunity to ask specific questions about the IRCI.

Key Benefits

Freddie Mac has developed its IRCI with the overarching goal of converting Single-Family investor reporting requirements to an industry standard. As a result, reporting will be both faster and easier for servicers and more accurate and streamlined for Freddie Mac. In addition, the IRCI will also support the joint Single Security Initiative with Fannie Mae. With the new ability to edit and report loan criteria on a daily basis, servicers can be more up-to-date and precise in their reporting, reducing potential errors. With the submission of loan data reduced to a single source, loan quality will be further bolstered. Since reporting is streamlined and centralized, servicers will also be able to gather investor feedback much more quickly than before.

Freddie Mac will also benefit from streamlined reporting. With loan submission on a fully standardized schedule and guidelines in place to support accuracy from the very beginning, Freddie Mac will be able to evaluate and accept loans much faster and ensure they meet the highest quality standards.

Training Sessions are Essential 

Servicers need to begin carving out the infrastructure to accommodate these changes before the May 2019 cut-over date. For Fannie Mae servicers who have already undergone a similar process, the transition to Freddie Mac’s IRCI will likely be much easier.

Leading up to the 2019 deadline, servicers should view their mortgage software vendor as a helpful ally in preparing for these new changes. To begin, servicers should contact their current vendors to see where they are in the process of updating their software to encompass the changes. Servicers should also take advantage of testing training and implementation support training offered by their vendor or Freddie Mac as it becomes available. 

The importance of attending these scheduled training sessions cannot be emphasized enough. These meetings provide servicers the invaluable opportunity to ask questions specific to their business and learn important information about the changes straight from the source. Armed with guidance from both their mortgage software vendors and Freddie Mac itself, servicers will be well prepared to tackle the changes head-on in May 2019.

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Divide And Conquer: How A Data-Supported Work Environment Saves Employees Time And Increases Productivity

We have experienced a fundamental shift in technology during the past two decades. In both our personal and our work lives, there is a whole new set of technologies available and companies are taking advantage of these technologies to gain advantages in their markets. In fact, individual and enterprise access to numerous new tech tools is the new normal.

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According to a McKinsey study, more than 90% of enterprise companies will adopt intelligent process technologies to turbocharge their operations by 2020, creating an Intelligent Work Experience for employees that can significantly drive down costs and increase their productivity.Adopting new technology is the only way for mortgage companies to compete over the long term by shifting from people-powered business to a software-powered business. You’ll see solutions that will help close loans faster, at lower costs, while speeding up cycle times, and providing better experiences for customers and employees. Innovation in consumer portals have helped improve the online application process over the past several years, but the costs of originating a loan continue to skyrocket, and the length of time it takes to close is still not fast enough. 

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Big data and AI can provide significant advantages for mortgage companies that harness technology’s power to make employees more productive. Data is at the heart of getting a mortgage. The borrowers apply for a loan by providing information about income, credit, and assets. The lender then uses this collection of data to make a decision about the loan. When the loan closes, the lender sells or retains the loan in the portfolio. The loan data could subsequently be leveraged to drive repeat business at a later time.

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It is worth noting, however, that while “big data analytics” has suddenly become a go-to catchphrase for many in our industry, our own experience in the space suggests that the challenges associated with implementing and realizing value from big data are more subtle. 

For the past 14 years, we’ve been helping clients collect, validate, and leverage the data to drive workflow automation and improve productivity in the mortgage process. We have an intimate knowledge of the pain points in this process. There remains a series of key friction points that must be addressed for the mortgage process to truly be reinvented, and we’ve been innovating on our clients’ behalf to improve the end-to-end mortgage experience for every user who touches the loan.  

Creating an intelligent process leveraging data and AI helps mortgage companies get leaner, faster, and more profitable. As one of the most complex, largest financial transactions most people make in their lives, getting a mortgage requires the gathering of information, validation and coordination with multiple parties to make a decision, while also meeting multiple regulatory requirements. Many legacy systems are outdated and face several big challenges in the race to modernize. 

Those who succeed will master the harvesting and delivery of relevant data at the right time so every user in the loan process — borrowers, loan officers, underwriters, processors, closing specialists, and delivery — are provided with the tools they need to manage their workload easily and make decisions quickly. This will remove friction in the loan process that bogs most lenders down operationally. With an intelligent document and data management system that provides user-friendly tools to empower its employees, lenders can have confidence in their data quality and can operate with full transparency to accelerate decisions and dramatically increase productivity and lower costs — all without having to rip out existing infrastructure for rapid deployment.   

For example, using a combination of business process improvements and next-generation tools can remove repetitive, replicable, and routine tasks, creating workflow automation with high accuracy rates. Up to 80% of manual processes could be eliminated without replacing existing operating systems, driving significant improvements across nearly every function.

Data-driven technology that creates an intelligent work experience increases employee productivity with automation while helping lenders scale quickly and do more with the same number of employees. Moving from a labor-intensive human powered process to a software-powered model also lowers risks and costs, helping companies survive and thrive in the new era of technology. At the end of the day, the key to innovative technological innovation is about making things easier for our most valuable assets — humans.

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Develop A Team, Not A Shop

As the mortgage industry continues to evolve and lenders look to target new homebuyer markets, training and developing a healthy, diverse team of mortgage professionals has become all the more important. 

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Why is this though? Simply put, borrowers want to work with lenders who understand their individual needs and are focused on providing a high level of service, and not simply trying to make a sale. For example, when we recruit VA loan specialists, we look to hire veterans or like-minded individuals because they understand the unique needs of veteran borrowers and what specific traits they should look for in their mortgage. 

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Even more important however, is for lenders to instill the heart of a teacher in their employees. This means coaching staff on how to delicately guide borrowers through one of the most important events of their lives: purchasing a home.  It’s here where the memory, knowledge and experience of seasoned employees can play a significant role for those entering the industry and in need of that institutional wisdom. We often find that people don’t just want to know what they “can” do, but rather what they “should” do. This means focusing on advice and guidance, not just orders or commands.

Building a Better Path

But there’s a problem. Quite frankly, there is no traditional path into this business from the university system. As a result, most loan officers end up in the mortgage business by accident. My vision is to build a firm instead of a shop by borrowing the apprentice system used in the financial planning industry and other professions.

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I’ve always been surprised that the mortgage industry lacks a structured mentorship program with high levels of accountability, training and guidance.  Mortgage shops are notorious for having a sink-or-swim mentality, saying “Here’s your compensation plan. Now, go find clients and do loans!” Too often, new originators are tossed into the deep end after receiving little more than half-baked training programs.

My business partner Rick Mount and I are beginning to develop some entry-level professionals on the California team at Churchill. This program is currently in its beta-test phase, but I can already tell that these new employees will be future leaders in the mortgage business. To find these future leaders, I look for five things — or the Five C’s: 

  1. Character (first and foremost)
  2. Competence 
  3. Care Factor 
  4. Consistency 
  5. Coachable 

This is my litmus test, which not only helps us find strong candidates, but with those five aspects firmly in place throughout the team, build a good, healthy staff of mortgage professionals. After finding the right recruits, we provide guidance personally and professionally, and also pair them with mentors — home-loan specialists who have done things very well for a long time. This way, our new, inexperienced recruits can learn mortgage best practices under the wing of a veteran pro before we launch them into their own position with their own client base.

Instilling Healthy Boundaries

That’s not the end of the process, however. One of my personal missions is to help my people find and put into place healthy boundaries that will protect them from themselves in the long term. Too often, I have seen bright-minded mortgage professionals come into the business with a passion for helping people become homeowners, only to have the business slowly take them over, like a tide, and push them to a place where they become slaves to the business.

To combat that unhealthy trend, we teach our people the importance of maintaining a healthy mindset by taking the time to plan out each week. We try to instill a mantra of 10 percent planning, 80 percent massive execution and 10 percent course correction, adjustment and wise counsel. This way, our people can attack each week with intention instead of spinning their wheels every day.We encourage and model daily discipline physically, mentally and with healthy family relationships in addition to building a successful mortgage business.

Establishing boundaries between work and life helps create healthier, happier mortgage professionals. Look, in this business, we often work with people who are experiencing one of the top-five emotional moments in their life. Buying a new home is right up there with getting married and landing that first job. It is a high-impact moment.

As mortgage professionals, one of the best gifts we can offer our clients is the space to be able to enjoy and fully experience the magic of that moment. But if we, as a group, are not at a healthy point in our own lives, both personally and professionally, we can miss the window of opportunity into that high-impact moment.

The path to creating a firm of healthy professionals instead of just leading a shop of drones who churn out loans is to ensure that everyone on the team is at the top of their game and are mentally, physically and spiritually healthy. My goal is always to be healthier on the inside than I am on the outside — and to make sure that this attitude permeates throughout the team as well.

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Make Realtors Your Greatest Allies

Everyone in the business knows that real estate professionals and lenders need to work together to capture, retain, and grow their repeat customer base. Because there are approximately 2 million actively licensed real estate professionals in today’s digital-centric borrower market, they often have a more extensive network of valuable connections needing loan services. 

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No question, referral partners are essential to your ongoing success.  Although you work hard to build relationships with the Realtors in your area, so does your competition. Sometimes, no matter how good you are, it’s hard to stand out.

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Now, imagine walking into your Realtors’ offices and making an immediate impression by showing them an easy-to-use app you have co-branded to include their contact info and custom links. When your Realtors see the features and how the app can connect them to their buyers—and with you—they’ll be hooked. If they have a prospect in the office, you’ll probably get an introduction; which, no doubt, will be the first of many referrals to come.

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Lenders tell us that using this type of app tripledtheir Realtor referrals. By giving your real estate partners a free tool that places them front and center, you add a compelling incentive to working together. They’ll be impressed how easy the app is to co-brand with their photo, their logo, their home search and buyer reviews. The reasons to work with you as a preferred lender don’t end there. SimpleNexus automatically keeps Realtors and borrowers informed through push notifications when loans hit important milestones. The notifications not only ease anxiety but also save time the loan officer would normally have to spend sending emails or returning calls regarding loan status. The end result is a shorter time to close and a transparent process for the Realtor and their buyers.

What Realtor wouldn’t want to work with a loan officer that can bring these types of benefits to the partnership? SimpleNexus makes collaboration between originators and real estate partners easy and efficient. This streamlined collaboration becomes key to delivering on the digital mortgage experience.This type collaboration results in:


With easy-to-share features, a loan officer can quickly get the app into the hands of new Realtor partners by simply texting or emailing them a download link. Realtors can in turn share the co-branded app with new  borrowers in a matter of seconds. Your ability to capture more business increases with each new share of the app. Loan officers receive notifications when each potential customer downloads the app allowing you to make contact early to lend your support.


Because the platform is white-labeled, your Realtors can co-brand the app with you. They can also add their own custom links, customer reviews, and property search features for a seamless mortgage process.


With your shared app, Realtors have the extra insight they need to better understand their customers with visibility into loan status, calculation history, number of shares, and home search history. Your real estate partners say informed and you remain ready to lend your assistance and begin the financing process.


The platforms’ features work together to improve the borrower experience, which means better reviews and more referrals for you and your Realtor partners.

Originators, borrowers, and real estate partners all get real-time loan visibility, proactive communication capabilities, and transparent transactions all while knowing everything is CFPB compliant and AICPA secure.

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Keep Your Brand Top Of Mind

A lot of companies back off their communications activities during the summer, according to Ray Hennessey. It’s hot out, people are on vacation and it’s hard to grab attention. However, Labor Day is in the rear-view mirror, so if you’ve continued to kick back on your communications efforts this past week, it’s time to get it back in gear.

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In his article entitled “8 Branding Tips To Close Out 2018” he talks about how to keep your brand out there.Here are some lessons he shares on how to put a bow on your year:

1. Everything is a brand.

At one time, brand building was solely the purview of advertising firms or pure-play marketers and referred only to a product or the company behind it. Now brand representatives include the company CEO and everyone who ever comes in contact with a customer or the general public.

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As a result, communications executives are now also stewards of the brand and ensure that the media not only gets the quote right, but that they understand what a brand believes.

2. Authenticity matters.

Authenticity is still the best differentiator for a person or a brand. The number one reason people don’t want to hear your story is that they don’t believe you. Audiences are very discerning, and they don’t want to waste what’s left of their attention spans consuming lies.

3. You must stand for something.

What you do is just part of the equation. What you believe—coupled with what you do—makes up your brand. Increasingly, people make decisions on products and services based on how brands align with their own values. Understanding those values, and evangelizing, makes for the most effective marketing.

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4. There’s digital media—and then there’s everything else.

Sure, newspapers are still printed daily. News is broadcast on television and radio all day, every day. However, all of those media channels rely on digital promotion for audience growth. Some people love to hold a newspaper or magazine in their hands, but most people love consuming information on phones. Digital platforms have become the confluence of all media types.

5. Social posts rule.

Financial companies in particular shy away from social media for compliance reasons—but that has to change. The discussions on social media reflect what’s important to clients and should influence decisions, whether that be a service to buy or a vote to cast. Social media is now the mainstream media. Use it wisely.

6. Show; don’t tell.

A visual element, whether video, infographic, art or a combination of them all, tells the story so much more effectively than plain words on a page. Video production is key to effective PR.

7. Good is better than plenty.

Just because you are getting a lot of media hits doesn’t mean you’re converting to customers. As measurement has improved, we’ve learned that being targeted and getting in front of the right audiences is always preferable to broad exposure.

8. Metrics matter.

In old days, PR was just about raw media hits—but the impact of those opportunities was difficult to measure. Even today, some PR firms continue to avoid real metrics to measure success. You can’t manage what you can’t measure, and success today is driven by data.

Now think about this: What tips would you add to this list, PR Dailyreaders? How are you looking to finish your 2018 campaigns?

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How To Increase Margins By Reducing Origination Costs

We can all agree that the cost to originate mortgages continues to climb throughout 2018 and is forcing lenders to deal with margin compression.

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As stated in an article from Kelsey Ramirez of Housing Wire, “The cost of originating a mortgage hit all-time highs back in 2013 and 2014, but now, those costs are up once again and much like before, hitting all-new highs, according to the last Quarterly Mortgage Bankers Performance report from the Mortgage Bankers Association.”

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In the article she mentions a new study from Deloitte Center for Financial Services and LendIt Fintech that shows nonbank online lenders are also struggling with the cost of funding a loan.

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The survey shows a full 77% of respondents listed the cost of funding among their top three concerns, and 38% said it was their top concern. This is compared to just 39% who listed any other issue among their top three concerns.

Today’s mortgage market challenges you and your staff more than ever before. It starts with heightened pressure to reduce loan production costs and the areas that cause those costs to rise:  constantly changing rules and regulations, lack of effective internal controls; communication break downs, poor loan visibility; and getting bog down doing manual rudimentary tasks are all significant factors forcing lenders to rethink their lending operations. 

To survive, brokers, loan officers, and lenders now require an intelligent loan manufacturing solution from a provider that truly understands mortgage banking and its constantly shifting mortgage process. The right digital mortgage platform helps you drastically reduce the chaos in your daily lending processes while improving communication to help you close more loans faster and in a more cost effective manner.  

So where should lenders begin?  If lenders truly want to reduce the cost to originate it starts with automating manual tasks and all of the communication breakdowns between all parties to the mortgage transaction. Each one of those breakdowns delays the time to close and increases the time and resources needed to originate the loan.

When we talk about all the parties to the transaction it is not just the fulfillment staff and borrowers, but realtors, title agents, financial planners, and all other interested parties that need to be accounted for. Keeping all parties in the loop is one thing, but automating that communication in a way to significantly reduce friction points while lowering costs.

To more efficiently manufacture a loan, system-driven processes need to unfold, so that lenders can reduce and/or eliminate manual rudimentary tasks. This way, your production team doesn’t need to think about what needs to be done, when it needs to be done, and by whom it needs to be done. 

For lenders that want to truly drive down the cost to originate, they must realize the importance of automating the entire mortgage process.  Lenders that put forth the energy and resources to automate the entire lending process will be able to cut costs while gaining a competitive advantage over other less efficient originators.

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Evaluating An OCR Solution for Mortgage Documents

Today there are many OCR technology options available to assist in the automation of mortgage loan processing.  Some solutions are well marketed and low cost with great claims of vast libraries of rules and an ability to provide tremendous results. Unfortunately, the reality is that OCR technology users and prospects are often disappointed in the results of current and past OCR evaluations and initiatives.  So, they’re understandably cautious and untrusting. To overcome much of the confusion and disappointment, a better evaluation process in many cases may go a long way towards greatly minimizing the risks involved in choosing an OCR technology vendor.

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In order to quickly understand an OCR technology and its capabilities, a blind test with several sample files should be considered the gold standard for an evaluation.  This is especially true when it comes to the challenges presented with the many and varying document types and quality levels of document images found in the mortgage industry.  Asking vendors if they are willing to perform a test on a never before seen sample set of typical loan files on siteand in sightof your evaluation team, is a good first step in shortening your list of viable vendors for your project.

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The test is often conducted on-site, rather than at a vendor’s facilities, due in part to the typically confidential nature of the content, but to also minimize concerns about the possible skewing of any results behind the scenes.  Look for a pre-built mortgage OCR library which can offer clients a short evaluation and implementation timeline rather than a requirement to develop processes and rules from the ground up.  Ideally, an evaluation should be setup as a One-Day Blind Test.  This kind of test is intended to demonstrate the validity of vendor claims so that prospects can be assured that they are considering a proven, robust and scalable solution ready to deliver productivity improvements in weeks rather than months or years.

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In the course of a One-Day Blind Test, provided loan files should be indexed by document type and 50-100 data fields should be extracted from various key documents like the Note, Deed of Trust, Closing Disclosure, and Appraisal.  Output results should be provided along with statistical reporting describing automation and processing times.

Unfortunately, many companies base their buying decision primarily on price, only to be disappointed with the lack of true out-of-the box mortgage-specific functionality offered by the product.  In other cases, great claims are made regarding OCR automation, with the reality being something less impressive.  

For qualified opportunities, Paradatec has been performing this process which enables prospective clients to quickly understand the overall levels of automation and speed improvements they will be able to achieve with their technology.  Paradatec calls their evaluation the One-Day Blind Test Challenge.  

Paradatec’s Advanced OCR solutions offer significant efficiencies for classifying large quantities of differing document types and extracting key data elements from those documents.  In the mortgage market, these capabilities allow for the quick and accurate identification of over 500 unique documents in the typical mortgage file, along with capturing nearly any data element from those documents that an organization requires.  For more information, please visit

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Lenders Could Be At Financial Risk Despite Protection With Home Flood Insurance

As flooding across the U.S. continues to be a serious issue, the effect of loss or damage to homes has dramatically increased. And because most properties are financed, that home serves as collateral to lenders. This in turn means that lenders have a greater financial stake when properties are damaged by flood waters. What makes this situation worse is when the homeowner abandons the home and/or stops making mortgage payments.

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Homes and businesses in high-risk floodareas with mortgages from federallyregulated or insuredlenders are required to have flood insurance. While flood insuranceis not federally requiredfor homes in a moderate- to low-risk floodarea, lenders may still requireflood insurance. Flood insurance is the only way lenders can protect an investment in case of a loss. Lenders need to be aware that properties in their portfolios can move into a covered flood area, which means it would need flood insurance to cover potential loss.  

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Federal Emergency Management Agency (FEMA) applies precise standards and the most accurate hazard information to develop Flood Insurance Rate Maps (FIRM) that show flood zones. However, limitations in the scale or topographic details of the source maps used to prepare a FIRM may result in small elevated areas to be included in a SFHA. Because of this, lenders could face a significant loss if the property is flooded and does not have flood insurance due to Letter of Map Conversion. 

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In order to change the flood hazard designation for properties in these areas, FEMA has set up a process called the Letter of Map Amendment (LOMA) for properties on naturally high ground, Letter of Map Revision (LOMR), a modification to FIRM or flood boundary and floodway map (FBFM) and the Letter of Map Revision Based on Fill (LOMR-F) for properties elevated by placement of fill. These determinations officially amend an effective FIRM. Lenders need to be aware of a property that no longer requires flood insurance as they need to provide a refund to owners if they continue to pay it. 

If LOMA, LOMR, or LOMR-F prove the property is correctly shown outside the SFHA, the mandatory federal flood insurance requirement is no longer applied. Again, lenders can require flood insurance as a condition of the loan, but premiums are lowered for structures outside the SFHA. And if lenders remove the flood insurance requirement altogether, a refund of the premium paid could be issued or the policy canceled.

FEMA does not charge a fee to review a LOMA request, but requesters are responsible for providing the required mapping and survey information specific to their property. For FEMA to remove a structure from the SFHA through the LOMA process, federal regulations require the lowest ground touching the structure, or Lowest Adjacent Grade (LAG) elevation, to be at or above the Base Flood Elevation (BFE).  Lenders can send homeowners who want to file a request for conditional and final map revisions to the FEMA LOMC Clearinghouse.FEMA does recommend flood insurance coverage even if it’s not required by law or a lender. Mortgaged homeowners are eligible to pay much less for the flood insurance if their property is removed from the SFHA through this LOMA, LOMR or LOMR-F. Lenders need to be aware of the flood zone status of the properties in their portfolios and know where to send borrowers who want to challenge those designations. 

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Be A Hero, Outmaneuver, Outperform, Outlast

One of the most common concerns weighing on loan officers across the country is the rising cost of lead acquisition in the face of a steady decline in mortgage applications. An increase in home prices across the market is taking its toll on the number of consumers actively applying for a mortgage. According to reports released by the Mortgage Bankers Association, mortgage applications have fallen a staggering 17 percent from only a year ago, and experts surmise that the rising purchase prices are playing a major role. To compound the problem, refinancing applications have also continued to trend downward, and are the lowest they’ve been since the end of 2000. When you combine these statistics with the ever-increasing cost of origination, it paints a bleak picture for lenders and loan officers. 

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The question has now become, “how can lenders weather these arduous trends to outmaneuver, outperform, and outlast the competition?” Because the number of applications is down, overall, one of the best available solutions is forming of strategic partnerships that will allow lenders to wring all possible value out of those leads that are available by increasing the rate and percentage of conversion. I know this sounds much easier said than done, but if lenders are able to step back to gain some perspective regarding why their leads are failing to transition into successful applications, the problem becomes much easier to solve. 

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Subpar credit scores are one of the leading hindrances to being approved for a mortgage. According to a 2016 study published by the Federal Reserve Bank of New York, more than one-third of Americans have a credit score below 620. Even more alarming, the CFPB published a study in 2015 that found in addition to those with poor credit, there are another 45 million adults who are either un-scoreable or who do not have a credit score. Because the number of applications is down, in general, its is now more important than ever to find creative ways to overcome a low credit score for those applicants who would otherwise qualify for a loan.

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We are beginning to see the emergence of non-profits that specialize in credit remediation and rehabilitation. Those third-party rehabilitation companies provide services to consumers at no cost to the lenders. This allows those lenders to steer their potential clients toward the assistance that they need to qualify without expending any additional resources, rather than the alternative of simply rejecting potential business. Those lenders who are able to stretch their dollar the furthest by making the most of the leads that they do receive, are the ones who will enjoy the most success in this market and live to see the day when it starts trending in a more favorable direction.

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