Debbie Hoffman and Rose Bogan on Regulatory Exams: Preparation Is More Than Half The Battle

Debbie Hoffman and Rose Bogan on Regulatory Exams: Preparation Is More Than Half The Battle

Law360

Digital Risk’s Chief Legal Officer Debbie Hoffman and SVP, Governance Risk & Compliance Rose Bogan have been published in Law360 regarding the steps lenders should take to prepare for a regulatory exam. Their co-authored article, titled “Regulatory Exams: Preparation Is More Than Half The Battle” explains that regardless of whether a regulatory exam is planned or not, most of the preparation for an exam should be completed well before the actual exam is scheduled to occur. The go on to share that pre-planning ideally includes a framework which incorporates governance, risk and compliance management and oversight. So what does this framework look like?

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Kimberly Lanham Authors HousingWire Blog on Women and Disruption

Kimberly Lanham Authors HousingWire Blog on Women and Disruption

HousingWire REwired

Digital Risk’s SVP, Client Relations & Marketing Kimberly Lanham has been published in HousingWire Magazine’s REwired Blog regarding how women can help propel the mortgage industry forward. In her article, “Want to disrupt the mortgage industry? Ask the decision makers,” Kim shares insights and data that were presented at Digital Risk’s Second Annual “Break the Glass” Executive Women’s Summit. Specifically, Kim touches on why women are now considered to be one of the largest drivers of the economy, as well as how these important purchase decision makers can help lenders better serve their customers.

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Debbie Hoffman on General Counsels: Building the Team From Within

Digital Risk’s Chief Legal Officer Debbie Hoffman shares how General Counsels – and other leaders in the legal field – can build their teams and nourish talent within their companies.

In this Legal Ink Magazine article, titled “General Counsels: Building the Team From Within,” she explains that as skilled lawyers, General Counsel generally have intuition regarding people, which allows them to identify skills in others and form strong teams around them. More likely than not, a GC has spent time working and learning within the hierarchy of a law firm and will leverage that experience to bring that same efficiency to their department.” Since these leaders have worked with a variety of clients and in various corporate structures, they are suited to understand the legal needs of a company and build a department that best meets those needs.

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Leo Loomie Quoted on High-speed Mortgages

Leo Loomie Quoted on High-speed Mortgages

Bank Administration Institute (BAI.org)

With the mortgage industry heading toward speedier loan approvals – and perhaps even a world where a loan could be approved in 30 seconds via smartphone – new FinTech players such as SoFi, Sindeo and Clara are not only entering the market, but disrupting it by using technology.

A majority of SoFi’s consumers are millennials, but aren’t they a higher risk? Maybe not. Mortgages are granted to them based on a buyer’s ability to repay rather than credit score. Sindeo identified the gap in customer satisfaction index in the mortgage industry and acted as a marketplace offering loans from 45 lenders, thus making it possible for people to “come to us and shop their rates.” In addition, Sindeo provides an Expert Guide and technology to help customers navigate the quote through to the end of the process via a smooth platform.

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Janice Minchenberg Quoted on Closing Disclosures

Janice Minchenberg Quoted on Closing Disclosures

Scotsman Guide

Constant issuing of second or third Closing Disclosures (CDs) to borrowers because of fee adjustments, thus causing delays in closing and higher cost to the lenders is on a rise.

The Scotsman Guide quotes Digital Risk’s Director of Implementation Management Janice Minchenberg’s views concerning the Cause & Cure on getting the timing just right on Closing Disclosures.

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Jeffrey Taylor quoted on Jumbo Loan Market on The Wall Street Journal

Jeffrey Taylor quoted on Jumbo Loan Market

The Wall Street Journal

Jumbo lending picks up as underwriting rules loosen, especially for income requirements, which has enabled more people to qualify for credit. The evident spike in the jumbo-loan originations and the monthly income figures is clearly reflective of the scope of Jumbo Lending in the Mortgage future.

The Wall Street Journal quotes Digital Risk’s Co-Founder & Managing Director Jeffrey Taylor’s views concerning the effect of loosened underwriting on the jumbo loan market.

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What’s Unanswered in CFPB’s Proposed TRID Changes

What’s Unanswered in CFPB’s Proposed TRID Changes

Secondary Marketing Executive

 

Digital Risk Compliance Attorney Meaghan James explains which areas of concern were either addressed or left untouched in the Consumer Financial Protection Bureau’s (CFPB) proposed rule, “Amendments to Federal Mortgage Disclosure Requirements under the Truth in Lending Act (Regulation Z).”

Meaghan shares that while the proposed rule addresses most of the operational challenges that originating lenders and their third-party vendors have been facing since the rule was first introduced in October of 2015, most of the questions posed by many investors and secondary market participants were not answered. Unfortunately, the CFPB has refused to address one of the main issues that is challenging secondary market players, cures.

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Fed Rate Hike: Jeffrey Taylor on When and How Much It Will Cost You

Fed Rate Hike: Jeffrey Taylor on When and How Much It Will Cost You

NerdWallet – Fed Rate Hike

In a NerdWallet article regarding anticipations surrounding the Federal Reserve rate hike, Jeffrey Taylor was quoted on how the fed rate hike would affect the mortgage industry.

Most experts predict the Fed will raise interest rates by a quarter point. While a majority of those working on Wall Street expect a rate hike to occur later than sooner, at the FOMC December meeting rather than the upcoming September meeting, many industry leaders are already forecasting the rate hike’s effect on consumers.
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Leo Loomie on How a Rate Hike Would Affect Mortgage

Leo Loomie on How a Rate Hike Would Affect Mortgage

The MReport

In this MReport article, Digital Risk’s Leo Loomie, VP, Client Services was quoted on how the purchase and refinance markets would be impacted by a potential interest rate hike.

The article, “How Would a Fed Rate Hike Affect the Mortgage Industry?” describes how expectations for a rate hike in September are dwindling due to a disappointing August 2016 Employment Situation report by the Bureau of Labor Statistics. Analysts are now predicting December will be the month that the Federal Reserve finally increases interest rates.

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