Rob Drakeley's Blog

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Unfunded Mortgage Applications Come to $1 Trillion A lot of mortgage applications went unfunded last year. A whole lot. In fact, a full $1 trillion in apps went unfunded for a variety of reasons. Compared to the $1.6 trillion that did get funded, that's a big turndown rate of 38%.

More lenders are scrutinizing mortgage applications since the financial crisis fallout, which has triggered fears of borrowers who will default or walk-away from their mortgage or mortgage fraud.  Here are the triggers that may cause the most lender scrutiny of loan applications, according to a r...

The fastest easiest and most secure way to get documents signed   DocMagic's revolutionary eSign system allows you to click-to-sign any document, generic agreement or just about anything... electronically. The process is completely secure, amazingly simple, incredibly fast and best of all... it's...

In today's lending market, mortgage brokers who were known as sub prime lenders are no longer in the business. As a matter of fact, licensed mortgage brokers in CT have drastically dropped in numbers from over 35000 to almost 3500 licensed loan originators. Licensing requirements have only been a...

I was reading an article today and at the summary came across an amazing quote ... "The housing crisis created opportunity for a financial literacy revolution to start and spread beyond the mortgage market. It is one meaningful way how Wall Street will continue to meet Main Street" This was part ...

Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke can't go it alone when it comes to reviving the U.S. housing market. Fed policy makers, who start a two-day meeting today, are considering buying mortgage-backed securities to push down borrowing costs and help homeowners refinance their debt...

President Obama announced Monday a plan to ease eligibility rules for home owners who want to refinance to take advantage of ultra-low mortgage rates and lower their mortgage payments. The administration hopes that by broadening its requirements for the Home Affordable Program that about 1 millio...

The mortgage industry has gone through some drastic changes over the past months. Recently the government came out and made it mandatory for 3rd party lenders, or mortgage brokers to take and pass a federal exam, as well as a state specific exam, as well as continuing education requirements every...

A new collaboration between FICO and CoreLogic, two of the nation’s largest risk scoring data providers, plans to upgrade existing mortgage credit risk scoring models and consequently pave the way for broader access to multiscore rating benchmarks.