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August 24, 2020

It has been a long hot summer for the mortgage industry and the COVID-19 requirements are keeping us sizzling.Radiating from all agencies and investors, there have been multiple updates offering continuing origination guidance issued by the Government-Sponsored Enterpr...

June 29, 2020

The U.S. Department of Housing and Urban Development (HUD) issued FHA INFO #20-44 on June 22nd.  Of the numerous updates, including Mortgagee Letters, issued as guidance under the Federal Housing Administration (FHA) Single Family Housing area, the underlying policy wa...

May 12, 2020

With escalating unemployment, furloughs, wage reduction and an overall lack of certainty in respect to the U.S. job market, income and employment risk is at the height of volatility. What began as the absence of 4506-Ts for income verification, has evolved into the tem...

April 21, 2020

Quality Mortgage Services (QMS) continues to focus on helping our clients and prospects stay on top of the rapidly changing flexibility in guidelines offered as a part of COVID-19 relief. Building on the QC requirements that were highlighted in our previous COVID-19 bl...

April 2, 2020

In our initial COVID-19 blog we touched on process triage, as well as preliminary origination and servicing guideline changes and relief options.  More updates are occurring at a rapid pace as both the industry and government agencies strive to stay in front of the pro...

October 16, 2019

As the expiration of the GSE patch, also referred to as the QM patch, grows closer, the potential impact becomes a more frequent topic around the industry.  Having helped deliver the mortgage industry through the financial crisis by allowing the government-sponsored en...

August 22, 2019

Earlier this month Fannie Mae released new updates to the Lender Quality Control section of the Selling Guide.  Lenders have the option to incorporate changes immediately; however, at a minimum requirement updates pertaining to QC independence and statistical sampling...

January 21, 2019

What does the government shutdown mean for quality control in the longer term? The government has now been partially shutdown for , the longest in our history, with more than 800,000 federal workers affected. Despite efforts on the part of the industry to address multi...

September 28, 2018

The most recent CoreLogic Mortgage Fraud Report once again indicated that fraud risk is on the rise.The report cited a 12.4 percent year-over-year rise in their mortgage application fraud risk index, with income fraud risk reported up 22.1 percent as the highest increa...

September 20, 2018

The post-financial crisis environment has supported the mortgage industry’s adoption of the digital era. With the advancement of the Mortgage Industry Standards Maintenance Organization (MISMO) and the Uniform Mortgage Data Program (UMDP), industry stakeholders have ga...

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August 24, 2020