by: Ruth Lee
Last week, Sen. Barney Frank (D – Mass.) announced his plans to retire, and the good folks at MortgageOrb.com asked moi for my thoughts on this news. I, of course, took the opportunity to add some much needed snark and sass to the piece.
As I was saying earlier, “Outsourcing payroll and other human resource operations to textile manufacturers is a suitable metaphor for why many mortgage bankers and community bank mortgage benefit from outsourcing their mission critical, but non-core, areas of operation. Specifically, I am thinking about mortgage fulfillment operations, where detail orientation and scalability must co-exist.”
Guest Post by Ian Wright, Community Trust Bank
Last week I attended the MBA’s National Policy Conference – my favorite MBA event of the year.
Heading home, I tweeted about what a great event it was. Later that day I got an email from a friend asking me “What was the most interesting take away from the conference?” That got me thinking – the MBA had 4 specific talking points that made up a bulk of the agenda. That wasn’t my top take away. As I listened to the speakers and read over the literature, one theme kept coming back at me, Dodd-Frank.
We have been hearing about Dodd-Frank for months. How complicated it’s going to be to implement, the number of agencies affected by the rule changes, we’ve heard it all.
When the new Frank-Dodd law goes into effect, many of the companies structured around subverting licensing requirements will be revisiting their business model. And for the national banks – there is more to consider. The bill eliminates the OTS and merges it with the OCC – and severely restricts the OCC’s ability to establish preemption.
[for more Titan Lenders Corp insight on Frank-Dodd and other mortgage lending regulations and compliance hurdles, read the detail at: http://www.progressinlending.com]
Mary Kladde is the founder and CEO of Titan Lenders Corp, a Denver, CO based domestic provider of outsourced mortgage fulfillment services. Ms. Kladde has nearly 20 years of actual mortgage operations experience and exposure to all residential lending channels and processes from origination through point of sale, which has provided unique insight into the operational needs of lenders and investors
Ruth Lee is the VP of Sales at Titan, and also heads Titan's government communications and advocacy efforts. Ms. Lee actively serves and participates on national committees with the NAMB, CAMB and the TMBA. She is very much abreast of the changing regulatory requirements and challenges inundating the mortgage industry today, giving her a unique synergistic knowledge of mortgage compliance and real-world operational demands.
