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HousingWire interviewed more than a dozen loan officers, mortgage executives, attorneys to shed light on the practice of LOs falsifying lead sources to gain a pricing edge on competitors.
After new FCC rules closing the "lead generator loophole," a marketing professional and an attorney offer thoughts on the mortgage impacts.
The CFPB takes action against alleged mortgage kickbacks, adding more confusion to the boundaries of RESPA. And many firms are unprepared for increased scrutiny.
There’s a definite shift going on in banks as continued layoff rumors in jumbo and portfolio divisions are rampant. At the other end of the job chain, people’s circumstances about how they entered our business are often fortuitous, or interesting. A good conversation topic at mortgage gatherings is how someone got into the business. Santa Rosa’s Brian Goulding, for example, has a solid accounting background which morphed into being a loan officer. I was a food science major. Another good conversation topic is how LOs use rent, and rent increases, to prompt buyers. Since 20...
Lawyers raised compliance questions regarding UWM's “Control your Price” initiative. Meanwhile, other lenders want to copy it.