Archive for January, 2010
Twitter Weekly Updates for 2010-01-31
Jan 31st
- The most creative wedding "SAVE THE DATE" ever created…Congrats Jeff & Erin http://bit.ly/70VIgD #
- Obama wants to shrink banks, but bankers can take dividends hostage, Jon Stewart points out http://bit.ly/9YeyP7 #in #
Powered by Twitter Tools.
Twitter Weekly Updates for 2010-01-24
Jan 24th
- Pres Obama wants tougher regulations on Banks: "If these folks want a fight, it's a fight I'm ready to have." http://bit.ly/4qk6Sl #in #
- Are we rebounding, or preparing for more downturn? RT @FoxBusiness: Xerox To Cut Workforce By About 4% http://bit.ly/761VCZ #
- If GM fails to pay back TARP, should they emerge from bankruptcy as one company? Weigh in: http://bit.ly/938dJg #in #
- MISMO trimester meeting Jan 25-28: Jacksonville, we'll be there. Register here: http://bit.ly/6hkkEn #in #
- From our reader:"Hello! http://bit.ly/Proclose is 1 of the most excellent informationl websites of its kind.I take advntg of reading daily" #
Powered by Twitter Tools.
Twitter Weekly Updates for 2010-01-17
Jan 17th
- @techglance Don't we already see the world in 3D?
What we need is ROSE colored glasses! in reply to techglance # - 10 way to use Linked In: http://bit.ly/6k5wc5 #in #
- #IN FREE RESPA WEBINAR to a preferred audience. NOT TO BE MISSED! http://bit.ly/5v3eIR #
- FREE RESPA WEBINAR to a preferred audience. Not to be missed this Thursday 2pm EST #in http://bit.ly/5v3eIR #
- @msnbc_tech My company wants to help – is the best way through the Red Cross? in reply to msnbc_tech #
- It's not to late to register for the HUD1 HOW TO. It's free for preferred ProClose users and followers http://bit.ly/5sECUG COME ON DOWN! #
- We're in the middle of a FANTASTIC HUD-1 seminar. If you missed it, visit us for details: http://www.proclose.com #
- The changes in the GFE and HUD rule is as revolutionary as Y2K. Be sure to watch for our next seminar. http://www.proclose.com #
Powered by Twitter Tools.
Twitter Weekly Updates for 2010-01-10
Jan 10th
- Learn more about new GFE and HUD1 in ProClose. http://bit.ly/4Ue2ST #
- Does "Restrained Enforcement" of the new RESPA rules mean we have to use the new GFE & HUD on applications after January 1, 2010? YES! #
- NOTE: HUD Mortgagee letter stating new GFE and HUD required on all loans CLOSING on/after Jan 1st, 2010 was reposted to say on all loan APPS #
- I guess if you owe taxes, it reflects a good thing – you MADE money. Like enduring traffic…at least I have a job to go to! #
- The economy is so bad that I got a pre-declined credit card in the mail #
- @labalicious my cousin is a smart one in reply to labalicious #
- A industry man's up close and personal view of the bits and bytes of mortgage doc prep http://bit.ly/7suSG3 #
- An industry man's up close and personal encounter with the bits and bytes of doc prep http://bit.ly/7suSG3 #
- Great list of mortgage terms you need to know: http://bit.ly/6DUCsv #
Powered by Twitter Tools.
The Bits and Bytes of Doc Prep
Jan 7th
After more than 20 years as a processor, originator and mortgage compliance trainer, I thought I knew mortgage compliance broadly and deeply. But when I joined the industry’s leading provider of closing documents and had to make sure the documents matched existing and forthcoming regulations, I was humbled. I quickly came to realize how much more I had to learn.
As a compliance specialist for Mortgage Banking Systems’ ProClose.com I am now deeply involved – on a so-called “granular” level – with all of the industry’s many laws and regulations, both federal and state. ProClose warrants that the forms it provides its clients comply with laws and regulations. We can’t be close – we have to hit the bulls-eye every time. The pressure is definitely on.
For instance, in our discussions with MISMO on implementing the new GFE and HUD-1, examining the various data elements and how they functioned, we found that there is no place on the proposed GFE for services not required by the lender, such as a home inspection, nor could we find a place to disclose HUD line 904 charges – the payment of property taxes. As an originator and trainer I had reviewed the form for months and hadn’t found those problems. Our longtime compliance expert Betsy Payne identified them in minutes.
As a compliance specialist I now get into the bits, bytes and crosshairs of the forms and regulations and take a line-by-line look at how they interact both in the background and the foreground, testing the results of the forms we create and determining if the results are expected or unexpected. These things have to be programmed from the ground up in order to keep our clients safe from a compliance breach.
Other companies do compliance well. Others are great programmers. And others create great loan origination systems. We work with them all. Our unique niche is closing documents. Our clients and their employees rely on us to get it right, down to the smallest detail, the shortest line, the most obscure reference.
Christopher Cruise
After more than 20 years as a processor, originator and mortgage compliance trainer, I thought I knew mortgage compliance broadly and deeply. But when I joined the industry’s leading provider of closing documents and had to make sure the documents matched existing and forthcoming regulations, I was humbled. I quickly came to realize how much more I had to learn.
As a compliance specialist for Mortgage Banking Systems’ ProClose.com I am now deeply involved – on a so-called “granular” level – with all of the industry’s many laws and regulations, both federal and state. ProClose warrants that the forms it provides its clients comply with laws and regulations. We can’t be close – we have to hit the bulls-eye every time. The pressure is definitely on.
For instance, in our discussions with MISMO on implementing the new GFE and HUD-1, examining the various data elements and how they functioned, we found that there is no place on the proposed GFE for services not required by the lender, such as a home inspection, nor could we find a place to disclose HUD line 904 charges – the payment of property taxes. As an originator and trainer I had reviewed the form for months and hadn’t found those problems. Our longtime compliance expert Betsy Payne identified them in minutes.
As a compliance specialist I now get into the bits, bytes and crosshairs of the forms and regulations and take a line-by-line look at how they interact both in the background and the foreground, testing the results of the forms we create and determining if the results are expected or unexpected. These things have to be programmed from the ground up in order to keep our clients safe from a compliance breach.
Other companies do compliance well. Others are great programmers. And others create great loan origination systems. We work with them all. Our unique niche is closing documents. Our clients and their employees rely on us to get it right, down to the smallest detail, the shortest line, the most obscure reference.
