Hope everyone is have a great Holiday Season and closing lots of loans. Just wanted to post a quick update regarding recent FTC regulation changes regarding website testimonials and how they affect your mortgage website. LeadPress Update to LeadPress Customers: One 12/1/09, the Federal Trade Commission enacted a new set of rules governing online endorsements [...]

Tags: FTC Mortgage, Mortgage Testimonials

It’s no secret that mortgage brokers, banks, net branches and anyone else in mortgage lending is struggling with the negative consequences and repercussions that affect borrowers and lenders as a consequence of HVCC or the Home Valuation Code of Conduct. One way lenders are countering the lack of control and negative outcomes due to poorly [...]

Tags: HVCC

Great news on the HVCC front. On June 25th, Representatives Childers (D-MS) and Miller (R-CA) introduced HR 3044, legislation that calls for an 18 month moratorium on HVCC. There has been significant fallout from the enactment of HVCC including, higher costs for consumers, devastating loss of income for independent appraisers and increased loan turn times [...]

Tags: HR 3044, HVCC

A year or so ago, I wrote a petition called “Request For Careful Reconsideration of HVCC” when the implications of HVCC became clear to me. Although HVCC has been looming for quite some time, many are just now hearing about it recently since it was implemented on May 1st. In the last couple of weeks [...]

Tags: Home Valuation Code of Conduct, HVCC, HVCC Petition

On March 26th, Rep. Bradley Miller [D-NC] introduced H.R. 1728, the Mortgage Reform and Anti-Predatory Lending Act, a bill that he is sponsoring. It has currently been referred to committee, the same committee of which will report on the act later. For those not familiar with the basic life cycle of a bill (from govtrack.us): [...]

Tags: HR 1728, mortgage legislation, mortgage reform act, yield spread premium, YSP