Beginning March 9, the Webinar will be held bi-monthly on Tuesdays at 1:00 pm EST (subsequent webinars are scheduled for March 23, April 6 and April 20). Titan’s RESPA compliance training has been developed from the operations perspective, providing both factual and practical information for working with GFE and HUD-1 borrower disclosures.

Training Summary

• New RESPA terminology
• When to re-disclose
• Understanding “Changed Circumstances”
• Understanding Tolerance Measurements
• Understanding “Important Dates”
• Inside columns, outside columns, what do they mean?

This class is designed for anyone who works directly with GFE’s and/or HUD’s, including loan originators, processors, underwriters, closers and post closers.

Sign up or find more information atwww.TitanLendersCorp.com/GFE-HUD-training-webinars.htm.

I found this question on an industry networking site.  This question was posited by an assistant vice president for an international (BPO) business process outsourcing firm… I assume looking to penetrate mortgage market outsourcing.  The reason it is notable – it highlights the reality that we work in an industry that requires specific knowledge, with process management that cannot be addressed in a few questions or in a couple of weeks of “mortgage boot camp.”  Our industry vocabulary is contextual…  Therefore, this question doesn’t make any sense… I know what he is asking…but as stated – it has to be interpreted….Refinances can be first mortgages and a refinance, by definition, is a new loan.  I believe he is asking purchase/refinance – but that isn’t what he asked.

“Please explain the key similarities and differences in the process between First Mortgage Originations(new loans) and refinance loans.”

“Bankers: Officials getting in way:
Panel members say examiners making lending difficult”

Read the article here: “Small-Biz Loan Guidance Close“

Read the article here: “Surge in Loans Is Unlikely From Small-Business Plan“

Does anyone else hear the “let them eat cake” facet of this placebo.  Seriously, a whole $30B?  Even with leverage – that lending commitment will pale in comparison with just the AIG bailout… for the entire national small business community?Gee….thanks.

The problem is that community banks WILL NOT lend.  The regulatory environment is hugely unstable… community banks are expected to pay for the sins of Wall Street.  Which I find so ironic…considering that Wall Street doesn’t even have to pay for its own sins.   Those banks that are TARP recipients aren’t using capital to lend – they are using it to shore up the unreasonable and fickle demands of their regulators – and use any extra as a hedge against an uncertain future review.  But the notion that this goes to help TARP community banks lend?  I guess the government ran out of pox infested blankets?

Oh, and by the way, if you have the language – mortgage, finance, lending in your name… you are automatically disqualified from participation with SBA.

I say let the SBA lend directly… they review it all… they approve it  all… so why not lend directly?

“It’s just mass confusion,” said Mary Kladde, the chief executive of Titan Lenders Corp., a Denver back-office fulfillment provider. “There just wasn’t enough thought that went into the regulations before they were put into place.”

“Under the Real Estate Settlement Procedures Act rule, certain fees cannot be more than 10% higher in the settlement statement (known as the HUD-1) presented to the borrower at the closing table than they were in the good-faith estimate; otherwise the lender has to eat the difference.

“Lenders and third-party settlement providers acknowledge they are listing the highest fees possible to avoid being penalized.”

Access the full article at AmericanBanker.com!

We have launched a webinar series specific to community banks considering the advantages of transitioning from mortgage lending as a broker to mortgage banker.  Our next webinar is February 2, 2010 at 1:00pm EST. Additional sessions will follow every other Tuesday.

Sign up here!

“There truly has never been a more ideal time for community banks to improve their balance sheets and competitive position by becoming mortgage bankers.” - Bill Null, Titan Lenders Corp. Director of Business Development

WAREHOUSE LENDING - Infusing New Life (And Money) Into Warehouse Lending: Industry experts are aiming for increased activity from existing warehouse lenders and new participation from community banks

Learn more about Titan’s warehouse lending approach and services here!

“Titan Lenders Corp is honored to provide its services and expertise for Flagstar’s progressive broker-to banker initiatives,” said Titan Lenders Corp founder and chief executive Mary Kladde.  “Flagstar continues to demonstrate industry leadership by offering quality brokers the opportunity to become correspondent lenders with the benefit of a warehouse line facility and a professional mortgage fulfillment operation that is familiar with the electronic closings and notes for quick turn time on the lines.”

“Flagstar’s broker-to-banker programs attract high quality, prolific mortgage businesses that want to serve borrowers as correspondent mortgage bankers, with the many advantages that entails,” said Greg Lutin, executive vice president, national sales manager for Flagstar Bank. “Selecting Titan as a mortgage fulfillment services provider for these programs will help ensure the consistent delivery of quality closed electronic loan files by Flagstar’s new correspondent lenders.”

Read the full release here!