The NMP Blog
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News From NAMB: August 4, 2017Submitted by John Councilman on August 04, 2017Top Story: Freddie Kills 1% Down Program
Without giving a reason, Freddie Mac suddenly announced it was discontinuing its Home Possible Advantage program that allowed borrowers to have as little as a 1% down payment. Lenders were allowed to fund... Read More |
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Every Leader Needs a ProcessSubmitted by David Lykken on August 02, 2017In my consulting business, I spend the majority of my team working with mortgage industry leaders and their teams on refining their business processes. In my experience, there is simply no more effective way to achieve organizational success than by placing... Read More |
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News From NAMB: July 27, 2017Submitted by John Councilman on July 27, 2017Top Story: Only 36 Comments On 3% Originator Cap
It is amazing that only 36 people have commented on the Ability to Pay Rule so far. The CFPB is assessing the Ability to Repay rule, also known as the Qualified Mortgage (QM) rule. Under the rule,... Read More |
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The Power of Process Improvement in Time ManagementSubmitted by David Lykken on July 25, 2017You've heard it before: We all have the same 24 hours in a day; it's how we choose to use that precious time that makes all the difference. The same thing can be said of the work day. What we accomplish while we're in the office is less a function of how... Read More |
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News From NAMB: July 20, 2017Submitted by John Councilman on July 20, 2017Top Story: CFPB Loses Another RESPA Case
The CFPB has taken a very expanded view of the Section 8 prohibition on kickbacks. They sued PHH and lost. Now, the agency has lost another RESPA case. The CFPB brought suit against a law firm that was... Read More |
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Why You Need More "Thinkers" on Your TeamSubmitted by David Lykken on July 19, 2017When you're bringing people onto your team, you may be thinking primarily in terms of how they'll fit in with your organizational culture. That's definitely an important thing to keep in mind. However, when you're interviewing candidates, you may come... Read More |
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Why You Want Extroverts on Your TeamSubmitted by David Lykken on July 14, 2017Finding the right people is an important step in creating a successful organization. It doesn't matter how great your processes or products are if you don't have people whom you can trust to handle them correctly. So, what kind of people do you want on your... Read More |
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News From NAMB: July 14, 2017Submitted by John Councilman on July 14, 2017Top Story: CFPB Revises TRID
Starting about a year ago, the CFPB decided to put in writing what they had been advising those who contact them with TRID questions. One should not look at this as changes but formal guidance on a few issues. One... Read More |
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News From NAMB: July 6, 2017Submitted by John Councilman on July 06, 2017Top Story: Budget Cuts Could Hamstring CFPB
In Washington, much of what cannot be passed in stand-alone bills can be accomplished in the budgeting process. Since the Choice Act that passed in the House does not appear to be passable in the... Read More |
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Why the Best Leaders DelegateSubmitted by David Lykken on July 05, 2017The best leaders in the mortgage industry have an entrepreneurial spirit. Whether or not you've started your company, you've no doubt had the spirit of a starter to get to where you are as a leader. People becoming leaders by taking initiative, getting... Read More |