Posts by ComplianceEase Marketing

7 Pillars of Success for New Compliance Officers

imaGuest Post Image with author's headshot, name and titlege-card_Roger-Fendelman3-01

Over the years, I’ve noticed that small lenders tend to grow their compliance function from within by staffing it with processors, underwriters, closers or other operations professionals with no compliance experience to speak of. While those individuals may have a mastery of their roles, they’re usually unprepared when it comes to understanding the interplay of…

Read More

Automating Lending Compliance

John Vong, an expert on automated lending compliance

ComplianceEase is a leading provider of intelligent business solutions to financial services institutions. The company was founded in 2001 by mortgage banking executives and technology professionals with a shared vision to develop innovative solutions and services to help the residential mortgage industry solve fundamental problems and minimize operational risks. The company’s commitment to deliver effective…

Read More

John Vong, CMB, CMT, on eExams and Lending Compliance

John Vong, an expert on automated lending compliance

John Vong, CMB, CMT, is president and co-founder of ComplianceEase, Burlingame, Calif., and a frequent contributor to MBA NewsLink. He can be reached at j.vong@complianceease.com. MBA NEWSLINK: Last fall, state and federal regulators took the unusual step of publicly calling on the real estate finance industry to integrate state-developed data standard with mortgage loan origination…

Read More

Maximizing VA Lending in Today’s Mortgage Environment

With mortgage origination volume expected to remain flat this year and the cost to originate reaching $8,611 per loan in Q4 2018, according to the Mortgage Bankers Association (MBA), many bankers are struggling to compete in today’s environment and cannot afford to turn away any opportunities. Even though they only represent approximately 10 percent of…

Read More

Home Equity Lending: the Good, the Bad and the Compliance Challenges

If the home equity lending market were a character in a western movie, it might be called “The Comeback Kid.” In 2007, lenders had $2.03 trillion in home equity lines of credit and closed-end second mortgages on their books, according to analysis from Inside Mortgage Finance. But then the crisis came and that number steadily…

Read More

A Little Less Regulation From the CFPB, a Little More Action From the States

California’s Department of Business Oversight recently put nonbank mortgage lenders and servicers on notice about complying with the state’s Residential Mortgage Lending Act. The CRMLA requires licensees to submit to the commissioner of Business Oversight, an annual report that contains the following data: loans originated, loans brokered, loans serviced, foreclosures and adjustable rate and other non-traditional mortgage…

Read More

Just When We Got The Hang Of It, QM Might Be Changing

It took the better part of four years, but our industry seems to have finally come to grips with the Qualified Mortgage rule and, more recently, what it takes to originate and securitize non-QM loans. But, as they said in a certain summer blockbuster movie, “just when you thought it was safe to go back…

Read More

More Is More: A Look at the Growing Role of State Regulators

Recently, New Jersey Attorney General Gurbir Grewal and Governor Phil Murphy announced that the state would create a “state-level CFPB” to “fill the void left by the Trump Administration’s pullback of the Consumer Financial Protection Bureau.” And the Garden State is not alone. Shortly after Office of Management and Budget Director Mick Mulvaney was appointed…

Read More