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Seas of Change

Posted by DocMagic on 08/02/2012

How will Dodd-Frank's ability-to-repay rule change underwriting -- and originating?

By Laurie Spira, Chief Compliance Officer, DocMagic, Inc.

Underwriting processes vary from lender to lender, but it’s often said that four C’s are at the heart of every sound underwriting decision: credit, capacity, cash and collateral. Even in the wake of the financial crisis, a quick Internet search will reveal that the four C’s still are alive and well; they’re discussed on countless websites and blogs, and almost any mortgage bank or lender will be familiar with the nuances of each of these all-important C’s. Although much has changed in the mortgage industry, the core underwriting principles have remained the same — at least they have thus far.

Depending on whom you ask, the Dodd-Frank Wall Street Reform and Consumer Protection Act’s ability-to-repay rule may come to replace at least a few of the four C’s. Because underwriting is such a vital facet

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New eBook - Navigating the Regulatory Landscape

Posted by DocMagic on 08/01/2012

"In this marketplace, a commitment to mortgage lending is a commitment to compliance."

As a mortgage lending professional, your job is to make loans to qualified borrowers. Are compliance concerns cutting into your productivity?

DocMagic's mission is to keep you in compliance while carefully covering your individual closing needs. You can rest easy knowing you are in compliance with all State and Federal regulations.Compliance is monitored by in-house legal counsel, compliance professionals and investor specialists delivering tools and technology that keep you worry-free throughout the

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"Navigating the Regulatory Landscape" eBook is Coming Soon!

Posted by DocMagic on 06/06/2012

As a mortgage lending professional, your job is to make loans to qualified borrowers.
Are compliance concerns cutting into your productivity?

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