Mortgage Software Solutions Blog

What image comes to mind when someone mentions archives? Dusty file cabinets in a basement or buried and mislabeled folders on your desktop are two common ideas of what archiving is. There is much more involved with archiving than meets the eye. First of all, an archive is more than a backup. It has to meet three requirements to do its job:

When faced with a regulatory examination, many mortgage businesses simply freeze up and ignore what’s coming, often because they’re not sure what to do. But a regulatory compliance audit is not the time to bury your head in the sand. Rather, it’s an opportunity to demonstrate your mortgage business’s commitment to its customers and to regulatory compliance as a whole.

Understanding the Home Mortgage Disclosure Act (HMDA) is crucial for mortgage loan officers because the data required by the law helps the Federal Financial Institutions Examination Council (FFIEC) determine whether lending institutions meet the housing/credit needs of U.S. communities. The data helps uncover discriminatory lending practices and direct community development block grants to specific communities, in order to encourage private investment. FFIEC collects data indicators on race and income distribution of borrowers, denial rates by race and income, and subprime loans/lenders by race.

As a passionate mortgage professional, you are constantly striving to improve your job performance and gain new, innovative knowledge about your field. This is necessary, considering the competitive nature of the mortgage industry. But what are some tactics and tips available to enable this continuous growth and development? How can you separate yourself from the pack to become a truly superior mortgage loan officer, one that excels in productivity and leaves every customer satisfied?

Developing and maintaining a high level of workforce productivity is imperative to the long-term success of your mortgage business. However, in order to achieve this, your loan officers need access to the right technological tools.

In order to apply for a mortgage, borrowers must turn over some very personal information. So it comes as no surprise that many borrowers are concerned with the security of their mortgage lenders’ networks.

Documents aren't really safe unless their transfer is secure from end to end. A mortgage company may store and manage its information with the highest standards, but there is still significant risk if the borrower or seller submits their documents through unsecure channels.

By now, you may have heard the hype surrounding the new assessment tool from the Federal Financial Institutions Examination Council (FFIEC). This powerful new tool is critically important to mortgage businesses of all sizes, enabling them to better evaluate the health and maturity of their cybersecurity systems. We’ve provided a comprehensive guide of the most important things you should know about the new FFIEC Cybersecurity Assessment Tool.