New “URLA” (Loan Application) & Why It Matters; Compliance, Salability & Delays

Agents and brokers alike have been asking me about the new Uniform Residential Loan Application or “URLA” and how it might affect them and their clients. This surprised me b/c I didn’t think agents paid that much attention to the mortgage side of the equation, but they should b/c these things definitely affect everyone. In […]Read More

“1% Closing Cost Credit Referral” How’s It Work? Compliant? No Free Lunch

One of America’s largest mortgage banks is offering a “1% closing cost credit referral” to real estate agents. The below paragraph was copied directly from an email that the lender sent to an agent we know: “I’ve attached your exclusive 1% closing cost credit referral. In order to reserve that for your new buyers you […]Read More

Why Mortgage Compliance is So Important?

Why is Mortgage Compliance So Important? The term “compliance” is thrown around constantly in the mortgage industry for a good reason. The mortgage industry is regulated by the CFPB, HUD, Cal BRE, and the Fed, among other entities. These organizations impose myriad rules and regulations that every company must comply with. As a result, companies […]Read More