Mortech Blog


Compliance and Lender Paid Mortgage Insurance

Posted by Brian Hall on Mar 5, 2014 11:13:00 AM

There was a time when many of the expenses involved in putting a mortgage loan together were of very little interest to the lender. After all, the lender didn’t set these fees, nor collect them, nor pay them. They were all passed on to the borrower and cleared up at the closing table, if not before. However, now that lenders must carefully document that they’re not exceeding the CFPB’s fee cap, they are taking renewed interest in the numbers. If the lender isn’t careful, this rule can seriously impede the firm’s ability to profit.


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Topics: mortgage pricing engine, QM, Lender Paid Mortgage Insurance, LPMI, CFPB

Countdown to QM Compliance

Posted by Jeff Schneider on Jan 8, 2014 10:29:00 AM

After more than a year of preparation for many companies in the mortgage industry, we are now just days away from the Consumer Financial Protection Bureau’s deadline for compliance with the new Qualified Mortgage rule. As I’m sure every reader of this blog knows, all loans started after January 10, must be sorted into one of the three new buckets. 


Back when I started in this business, we used Excel spreadsheets for much of the analytical work required to keep our business on track. Some executives out there now are probably still trying to put all the calculations into a handy worksheet. Some of you younger readers are laughing, but it can be very hard to let go of the safeguards that have protected us over the years. That’s part of the reason that we still use so much paper in a process that is, for the most part, already electronic.


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Topics: Mortgage Compliance, Compliance, QM