Just a few days ago, HousingWire asked the question, “Did non-QM just disappear from the market?” as many of the biggest lenders specializing in lending to borrowers outside the Qualified Mortgage lending box were pausing their activities due to uncertainty in the market.

The two main holdouts were Angel Oak Mortgage Solutions and Citadel Servicing, which both stated as recently as Friday that they were still in the non-QM lending business.

But now, those last two holdouts have bowed out, too.

Angel Oak, which has grown its non-QM business significantly in the last few years, said on Friday that it planned to continue lending, but with adjusted rates and guidelines. But that plan changed over the weekend.

On Monday morning, the company sent out a letter to clients stating that it plans to halt “all loan activity” for a period of two weeks.

“The pandemic has continued to cause turmoil in the worldwide economy,” Angel Oak said in its note to clients. “Due to the constant shifts and the inability to appropriately evaluate credit risk, we are pausing all loan activity for two weeks. This includes fundings and any new loan activity.”

It was also thought that Citadel Servicing, another big non-QM lender that was purchased by HPS Investment Partners in February, would be able to weather the storm as well since it now had the financial backing of HPS.

But that changed over the weekend as well.

Citadel Servicing sent out a note on Monday stating that it also planned to shut down its lending operations, but instead of shutting down for two weeks like Angel Oak, Citadel is shutting down for 30 days.

The reason for the action is twofold, according to the company. The company is based in California, which just issued a statewide “stay at home” order that requires all residents to stay at home other than for “essential needs.” Therefore, the company is issuing a work-from-home mandate for many of its employees.

That, combined with the market conditions, are causing Citadel to back away from non-QM lending as well.

“In light of the COVID-19 developments, the recent announcement of California’s Stay at Home Order, as well as rapidly changing conditions in the financial markets and to protect the health and safety of our employees, our customers, and to maintain Citadel Servicing Corporation’s position as the Non-QM market leader, we have decided to implement a 30-day stay-at-home policy for the employees of many of CSC’s departments, and we are temporarily pausing loan originations for the next thirty days,” Citadel said in a note to clients.

The company states that the decision to pause its lending activities is not a reflection of the health of its business.

“Importantly, CSC is not terminating or shutting its operations,” Citadel said. “We have a strong balance sheet and are not experiencing credit or liquidity issues. Instead, we are making this business decision out of an abundance of caution, in order to comply with California Governor Newsom’s Executive Order, and recognizing the in-person interactions at loan closings and in the origination process. Current conditions require reconsidering these interactions.”

The company also notes that in an effort to “limit the impact on consumers,” it plans “to fund purchase money loans intended for primary occupancy transactions currently in our Funding Department with issued Closing Documents.” The company also states that it plans to “extend and honor Conditional Loan Approvals for applicants who continue to qualify under our guidelines upon resuming operations.”

The company also states that its servicing department will continue to operate throughout this 30-day lending pause.

“We value our relationships and regret that this may be a burden in this difficult time for all of us,” the company said. “CSC plans to fully resume normal operations after thirty days or as conditions permit. We will be back, and with your continued support, stronger and better than ever.”



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It’s amazing how fast the business landscape can change. We’re seeing it right now, with the vindictive coronavirus wreaking havoc on our economy, our health and our real estate businesses. 

Many of us are scrambling just to maintain our business, let alone grow it while the market falls apart around us.

But as with any crisis, opportunities always emerge. In all the uncertainty, some will end up thriving and growing while most do not.

Dustin-Brohm
Dustin Brohm, Columnist

So which opportunities can the average real estate agent take advantage of in the middle of the coronavirus outbreak and economic collapse?

Making every $1 spent on real estate marketing and advertising goes much, much further than it would have even a month ago. 

Think about it. So many competitors are now sitting on the sidelines and playing defense! You literally have less competition for the attention of the consumer, at a time when those consumers are scrolling their news feeds much more than usual. Those real estate agents who decide to play offense, and do the right things, can really end up winning big and growing while most are moving backward or playing it safe.

So what exactly should you be spending your precious marketing dollars on right now? Facebook video ads retargeted to people who already know you.

Of course, you could always do what 98% of other Facebook advertisers do, and go right for the conversion or the sale. Almost all of your competitors use Facebook ads for nothing more than trying to capture leads from an audience who has never seen them before. They focus on capturing leads from a cold audience of people who don’t know anything about them. But that’s the hardest way to get leads and to get people to hire you!

It’s much easier to get someone to click a button, watch a video or do a certain thing when they already know who you are. When you are already familiar to them. The best way to stay in front of this “warm audience,” those who already know you, is through a tactic called retargeting. 

Every major online retailer does it. You’ve been retargeted before. Why do you think it is that when you look at a particular product on Amazon that it all of a sudden starts showing up in your news feed? Or when you visit a companies website and then start seeing ads for them everywhere? That is called retargeting, and we, as real estate agents, can use the same strategy to stay in front of our network.

Retargeting is when you show an ad, or a series of ads, to a group of people who have taken a certain action. For example, you show a video ad to only people on your email list. You could show ads to only people who have visited your website, engaged with one of your Facebook posts, or watched one of your previous videos. 

By spending money marketing to those who have already seen you before somehow, every dollar you spend will go so much further. That’s smart even in the best of times, but in this new world of coronavirus-led disruption, it’s absolutely imperative. Spending your money intelligently can mean the difference between maintaining your average level of business over the next six months, or being completely out of business in 6 months.  

You do retargeting Facebook ad campaigns through whats called “custom audiences,” which is like a box of people who have taken a certain action or meet some criteria that you specify, and then running an ad campaign targeted to just that custom audience (aka only the people in the box). There are countless videos out there, like this one, that can teach you how to do it. You just have to take the initiative to seek out the information, and then do it. 

I challenge you to figure out how you can spend more money on marketing right now, while your competition is less than it’s been in years. Make the investment of time and money to learn how to do these ad campaigns the right way.

Facebook ads are a tool, which can be used correctly and effectively, or when used ineffectively, can be completely useless. Hire a coach, take a course, but ultimately you need to have control over your ads. If you just outsource it to some other company, you have no control over the content of the ads, nor their effectiveness, not to mention you are paying much more than if you learned how to do them yourself.

I’m a firm believer that any real estate agent right now who invests some time and some money to master their own ability to generate leads and build awareness of their brand will look back six to 12 months from now – their businesses thriving and enduring – and they’ll only wish they had spent even more.

Think of this time right now as a digital land grab, so you can start dominating the precious news feed real estate of everyone in your sphere of influence. 



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The latest victim of the coronavirus might be non-QM lending. After seeing an increase in activity over the last two years, a number of wholesale lenders have suspended non-QM funding this week or they tightened their standards on acceptable FICO scores.

theLender is the latest company to announce that it is out of non-QM altogether, and put out this statement Friday afternoon on their website:

“With U.S. interest rates at historic lows, unprecedented Government stimulus, and the re-entry of the Fed into the agency and Government lending markets, we recognize that there is now not enough capacity in the agency markets to serve a hurting America. With our mission statement declaring that theLender is about ‘delivering customer-centric solutions to help clients realize their dreams,’ we have decided to put the full force of our platform behind the American people. To support the U.S. economy and be a beacon of hope during challenging times, theLender will be prioritizing QM loans for as long as America is in need.

“As of today, effective immediately, we are suspending all non-QM loans. That includes funding any further NonQm loans, locking or registering. We understand this is a burden for our broker clients and their customers but hope they understand this decision during this incredibly difficult time in America.”

Nations Direct Mortgage and Orion Lending are also shuttering their non-QM programs. Justin Simpers, a senior account executive at Orion, posted a video on the topic on Friday.

“Non-QM loans are gone,” Simpers said in the video. “It is sad, but it’s just the hard truth. Liquidity — no one has it. Just like the crash in ‘07-‘08, non-QM is gone.”  

AmWest sent a statement to brokers that they have repriced their portfolio products to market-clearing rates.

Angel Oak Mortgage Solutions is one of the lenders still offering non-QM but tightening standards. The company sent out this message on Friday:

“Angel Oak is financially stable with a strong balance sheet. In order to allocate those resources most efficiently, we have made changes to our rates and guidelines moving forward. If you have active loans in the pipeline with us, please coordinate with your account executive to work through them. For all loans going forward, your account executive stands ready to assist.
 
“I want to stress that this is not a credit issue – these are solid loans that are performing. Unfortunately, the pandemic has caused a state of flux in financial markets that is impacting the entire real estate industry. Angel Oak was formed to provide access to capital for those shut out of the agency market. That mission will continue.”

Also on Friday, Parkside Lending communicated to brokers that they will not be approving any loans with a qualifying credit score of under 660 for all loan products. Previously, the company had been at 580 for government loans and 620 for conventional. Parkside also communicated that they narrowing their jumbo product offering and not offering non-QM.

These companies joined others who shut down non-QM earlier in the week, including Mega Capital Funding, which sent out a message to brokers that stated: “Due to retractions in the financial markets as a response to the coronavirus pandemic, and the uncertainty in the non-Qm space, MCDI will suspend funding on any and all of our non-QM and non-QM related products. This includes registering, locking or pre-locking loans. Any loan with docs signed, we will fund. Any loan without signed docs will be suspended for the foreseeable future or until market stability returns.”

HomeXPress Mortgage Corp. sent a letter that explained they would be “pausing all loan activity in order to complete a proper assessment of market conditions and allow us to create programs suitable for all constituents in the home loan process.”

Meanwhile, Citadel Servicing, which was purchased by HPS Investment Partners in February, continues its non-QM program unabated. But the evaporation of numerous non-QM funding sources means borrowers outside the traditional credit box have fewer options than ever.

This is a developing story.



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The growing uncertainty in the housing market has claimed its first iBuyer victim.

Redfin announced Wednesday that it is hitting the pause button on its homebuying efforts, which it calls RedfinNow.

“On March 18, 2020, we announced that RedfinNow, our business that buys homes directly from homeowners and resells them to homebuyers, will temporarily pause making offers on homes,” the company disclosed Wednesday in a filing with the Securities and Exchange Commission.

In a statement, Redfin CEO Glenn Kelman said that the decision was made in response to the ambiguous nature of the housing business right now.

“From the beginning — repeatedly, insistently and despite growth pressure from all sides — Redfin has said that we aspire to be the most disciplined iBuyer,” Kelman said.

“In every earnings call and press interview about iBuying, we’ve said that we see iBuying as part of a portfolio of options we give homeowners, reserving for ourselves the flexibility to feature different options at different times,” Kelman continued.

“Nothing has changed about this position. We remain as committed as ever to giving homeowners the option of an instant offer, but only when we can know what a fair price for an offer would be,” Kelman added.

“With whole cities shutting down nearly all commerce, no one can say what a fair price is right now, so we’re not making any instant offers. We expect to be making instant offers again soon, but only when the market becomes more predictable,” Kelman concluded. “Our discipline today is the discipline we’ve always had, and that we’ve always said we would have.”

This is the second big change for Redfin this week. Earlier this week, Redfin said that it will no longer allow its agents to host open houses as part of an effort to limit the spread of the virus.

A new blog from Kelman also noted that the “coronavirus’s impact on housing is now nearly nationwide.”

According to Kelman, there’s been a decline in homebuying demand in recent days. And that’s a problem for Redfin’s homebuying efforts.

Redfin did not get into the homebuying business to become a landlord. Rather, the company seeks to resell the homes it buys back into the market. So, with less demand for homes, Redfin may be stuck holding onto homes it buys, which it doesn’t want to do.

Redfin launched its direct homebuying program in the first quarter of 2017, but did not make the program public until later in that same year.

RedfinNow began as an experiment, launching in the Inland Empire region of Southern California in January 2017 before expanding to San Diego in June 2017. Redfin later expanded the direct buying program to Orange County.

Then, in 2018, Redfin said that it was “deepening its investment” in the program and planned a “long-term” expansion of the program beyond those first few markets. The company later expanded its homebuying operations to Dallas and Denver.

But now, Redfin’s homebuying is on hold. For how long remains to be seen.



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Recently, I find myself reminiscing about the times of B.C. 

Not the era “Before Christ” of the Gregorian calendar, but those glorious days “Before Coronavirus,” when March Madness Basketball was around the corner, the weekly jobless claims were solid and purchase application data just showed its seventh-straight week of double-digit growth year over year at cycle highs in demand!  

Logan Mohtashami
Logan Mohtashami,
Columnist

Do you even remember what you were complaining about in the days of B.C.? 

Yes, we had some real problems in our society that needed our concentrated attention – and guess what? Those issues still exist. But no one is thinking about them now because we are all too busy hoarding toilet paper and hand sanitizer. 

Alas, the era A.D. (After Disease) is upon us, and to say the economic landscape has been chaotic is an understatement. This has been especially true of the mortgage market. 

On Monday, March 9, the 10-year Treasury bond yield hit a record low rate of 0.32%, went up 22 basis points by the end of the day, then went up another 28 basis points by the close on Wednesday. Following suit, mortgage rates jumped 0.5%-1%. 

This meant that a well-qualified buyer who was quoted a rate of 3% on Monday would be quoted a rate of 4% on Friday if they didn’t lock. I’ve heard from agents that some of their buyers are canceling escrow because they believe home prices may crash and some sellers are canceling their listings because they don’t want potentially infected people in their homes for an open house. 

This is all anecdotal, but it speaks to the chaotic atmosphere that we are currently in.

How COVID-19 is impacting housing professionals

What is not anecdotal is the near-meltdown of the entire mortgage market last week, due to the huge, albeit brief, dip in rates to historic lows. The fall in rates leads to a massive influx of borrowers able to refinance. This created two problems for the loan industry. 

First, this influx tested the capacity of the system to handle so many refinance requests.

After the initial fall in rates, we saw mortgage rates spike even though the 10-year yield remained well under 1%. In an attempt to titrate the number of loans coming into the system for refinancing, lenders increased the delta between mortgage rates and the 10-year yield — and this is why rates went up sharply, so quickly. 

The issue of capacity was the tip of the iceberg, however.  

Lenders needed to make this rapid adjustment in rates, not only to cure their capacity problem but to stem the flash flood of early pay-offs (EPOs). Some number of early-payoffs are expected and baked into the business model as a source of risk. But the velocity and magnitude of the change in rates meant the majority of loans in 2019 and 2020 could be at risk of an early payoff before the system could make adjustments to prevent this from happening. 

Earlier than expected payoffs are a problem for the industry because investors of mortgage securities expect a certain number of months or years of interest to be paid on the loan in order to recover the cost of the investment and generate a profit. 

Because prepayment penalties are no longer allowed, borrowers can refinance their loan as early and often as it makes financial sense for them.  

Needless to say, the system isn’t designed for such a rapid decline in rates. Should someone – or many someones – have anticipated the possibility that if yields fell to below 1%, this could lead to a flood of early pay-offs and a collapse of the value of mortgage securities?  Should a circuit breaker be in place to prevent this from happening? Or was the extreme nature of this virus just a one-off event that created the meltdown last week.

The Federal Reserve did another emergency rate cut down to zero and promised 700 billion to buy bonds and MBS, partly because they were horrified with the bond market and mortgage rate reaction last week. 

How COVID-19 will impact housing

Moving forward, there are two things I am going to keep an eye on to gauge how much this crisis will affect the housing market for the year:

1. Purchase contracts falling through

I will be watching for cancelations of purchase contracts for both new and existing homes. We can expect this to happen in the next 30 days if mortgage pricing does not improve. Not to mention that we are at the stage now that more and more of our traditional normal events are being closed. 

As of this week, we are going to major social distancing phase in which life in America is going to be very different for us. This was a concern I had just a few weeks ago regarding the housing market vs. COVID-19.

Having said that, when purchase application data adjusting to population hit an all-time low in 2014, we still have over 5,400,000 total home sales and new and existing homes. When rates were as high as 4.75%-5% we didn’t see a collapse in homes sales.

In fact, existing home sales only lost 170,000 in sales year over year. Today, we are in a much better place than in 2014 in terms of demographic demand and more people working. Rates, even at 4%, are still relatively low and purchase application data is at cycle highs with seven straight weeks of double-digit growth. 

However, if people are in fear, you have no idea how the public will act like. None of us foresaw that the hoarding of toilet paper was going to be a story in 2020. Even with low rates, we simply don’t know the scale of what home buyers or sellers will think with this historic horrific event in the short term.

 As always, I advise on keeping an eye on the weekly purchase application data, as seen below. 

MBAMar112020

2. Possible construction changes

The second thing I will be keeping an eye on is builder behavior. 

Will builders halt production on new homes to protect their workers or other reasons? Housing permits (as seen below) have been on fire since the early part of 2019, so this would be a drastic move. However, it is not unimaginable considering the climate. If March Madness can be shut down anything can happen.

feb-permits

For the economy in general, the first quarter of 2020’s GDP doesn’t have the full impact of the virus. The second quarter will capture the beginnings of the full effect of the virus,  which will show a dramatic shock to the economy. 

By the third quarter, I anticipate the numbers to improve, only from a low base indicating that the worst of it is over. I am a firm believer in my September 1, 2020 timeline. By that date, the headlines of the virus news will be much better and we will have started the process of getting back to “B.C.”

This means the fourth quarter should be working from a more stable situation. 

For the next three and a half months, however, we will be declaring war on this virus. All of us will come together as a nation to defeat it. We will do this by getting more tests done, social distancing and helping each other to stay healthy. 

Stay positive and stay healthy, my friends.



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Over the last several months, I’ve read many articles talking about the homeownership gap for black Americans. Each article fuels me to speak with more families to bring awareness to the importance of homeownership and how owning a home can have a positive generational impact on their households. 

Montell Watson,
Guest Author

Although the current gap is staggering, I believe we have an opportunity to change the systemic long-term trust issues black households have with financial institutions while empowering all potential homeowners to believe homeownership is for them.

Below I’ll outline three ways major stakeholders can work together to improve homeownership for black Americans. 

Let’s talk about the numbers

Today, the homeownership gap for black households stands at 44%. This rate has ticked up from a recent staggering 50-year low that traces back to the passing of the Fair Housing Act. This gain is positive, but we have a long way to go. 

Homeownership is still one of the best ways to grow wealth and low homeownership rates in black communities has a direct correlation to net worth. This results in a lack of opportunity for home equity growth and a natural built-in savings account earned by making mortgage payments vs. a rental payment. According to “The Road to Zero Wealth” report by Prosperity Now, the median wealth of black Americans will fall to zero within 23 years if current trends continue. This is daunting. 

How did we get here? 

Recently, I’ve had the privilege to speak with many people within the black community: high school students, college students and adults who aren’t aware of the Fair Housing Act and what it granted for people of color.

This was eye-opening for me.

Many people are unaware of our country’s history with housing and redlining and how it relates to people of color. Compound our country’s history of redlining with the fact that black households were hit the hardest during the housing crisis in 2008 (due to having a disproportionately larger number of subprime mortgages compared to their counterparts), and you have a perfect storm which lands us to where we are today.

Those factors forced many black homeowners out of their homes and into renting. This wiped out any home equity gains for those who took advantage of the momentum of the Fair Housing Act.

This lasting effect is still seen in large metropolitans’ areas such as Philadelphia where there are rows of vacant properties that are disproportionately racially divided. The city of Philadelphia has more than 40,000 vacant properties in the city and is trying outside-the-box strategies to help revitalize neighborhoods that were hit hard during the financial crisis.

Affordability is also a major hurdle for black households to live out the dream of homeownership.

Due to a high unemployment rate for black workers and growing home prices, having the available funds for a down-payment seems insurmountable. There are millions of Americans who can’t afford a $250,000 home.

Rising costs for builders continue to push builders into building higher-priced homes to capture margin. Combine rising builder cost, rising costs of rent putting a strain on savings and this is yet another constraint for black households trying to afford a home purchase. 

What can be done: 

Here are three ways we can work together to improve homeownership for black Americans. 

1) Outreach and Education:

Lenders can continue to improve their outreach and education specifically concerning down payment requirements and programs.

As lenders, we should take the time to educate the 1.7 million black Millennials who are mortgage ready but don’t own. We need to teach these individuals about the misconceptions of down payments and why it’s important to own a home to create generational wealth.

There is also an opportunity to streamline and improve accessibility to down payment assistance programs. Urban Institute states there are more than 2,500+ down payment assistance programs across the country with several of the program’s funds not being utilized. This is because of a lack of awareness and understanding about availability of the programs.

2) Improving Loan Officer Diversity/Inclusion:

Enhancing diversity within the industry also offers a great opportunity to help build trust with borrowers of color who have lost confidence in financial institutions from past experiences.

Today, loan officers continue to successfully build great trust and relationships within their local communities. With minorities expected to be the majority by 2025, lenders have an opportunity to understand how they can better serve the changing demographic through having a more inclusive loan officer population

3) Supply and Demand:

Lastly, attacking affordability requires collaboration from many stakeholders.

Alana Mccargo from the Urban Institute says “Acknowledging the problem, some cities have taken bold actions to reform zoning and land-use regulations. Factory-built housing production, like manufactured and modular housing, could also increase homeownership affordability and supply.”

“Contrary to common perception, recent research highlights that some manufactured homes appreciate at similar rates as site-built homes,” Mccargo continues. “Manufactured housing has evolved and could be an affordable solution for helping black families get on the path to homeownership.” Mccargo’s five-point plan to improve black homeownership has more details.  

I’ve highlighted only a few of the many reasons the black homeownership rate is where it is today.

Although many stakeholders are taking action to help eliminate this alarming gap, no one has a silver bullet to solve the issue. One thing that I know is true is that if we don’t act, the net worth inequality gap will continue to increase, and the homeownership gap will continue to get worse.

We don’t have to have all the answers, but we must act. 



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As the mortgage and real estate finance markets continue to digitize, the focus has shifted from origination, lead generation and POS optimization (data aggregation) to focusing on inefficiencies within risk, operations, client retention and closing processes. 

FundingShield is a leading provider of risk management, fraud prevention and regulatory compliance technology solutions protecting the mortgage, real estate finance, title and legal industries during the closing and settlement process.

FundingShield’s award-winning fintech solutions deliver the highest level of control and risk mitigation against wire fraud, settlement risk, title fraud, third-party vendors and cyber fraud while improving the bottom line.

The firm’s proprietary database of title and settlement parties is the largest in the industry with real-time, verified and vetted data and no static databases that are ineffective against cyber-fraud, wire-fraud or title fraud that exist at a transaction level.

“We are a unique and one-of-its-kind company in the country that provides real-time data to prevent wire fraud and manage risk and compliance in the mortgage closing/settlement process,” shared Ike Suri, chairman and CEO of FundingShield.

Suri draws on his 25 years of rich experience in private equity, technology and human capital management arenas to lead FundingShield to enable seamless and secure execution of the closing process and transfer of funds at the end of a mortgage loan transaction.

“The mortgage closing/settlement process is the most painful part of the whole journey; this is where we come in. We create a more secure closing experience for all parties involved in a loan, from the borrower to the investor and all the service providers in-between,” Suri said.

The solutions operate like a trading exchange, where at the time of closing, rapid processing is carried out electronically through the company’s highly-efficient and time-saving algorithms and software solutions, while also ensuring that the right information, documents and funds reach the right person.

That’s not all; FundingShield goes a step further to provide clients with up to $2million to $5 million per transaction coverage to support and protect the transaction.

From a consumer’s perspective, FundingShield has also delivered a product for the B2B2C market, working in close collaboration with lenders to protect consumer down payments and provide lenders with the option to have buyers confirm the destination of their down payment funds prior to closing, thus preventing wire fraud and other issues.

The company is currently collaborating with renowned names in the industry to deliver its B2C product — launched with premiere names in the mortgage and real estate markets — that will cater to the sellers’ needs as fraud has been picking up on those payments from escrow, settlement firms and attorneys.

“Prior to FundingShield, companies had been dealing with closing agent and title vendor data that was static and they had to manually analyze and maintain it, generally once every year or two if they had any process at all,” said Adam Chaudhary, president of FundingShield.

“However, this method has since become obsolete and cost-inefficient in a world where lenders and investors have less control of closing and title agents, data and communication trust is an issue due to hacking, phishing, business email compromise and other types of cyber-fraud are of growing concern.

“Further, many federal and state-level regulators are demanding to see an effective compliance and risk management program in place owing to the local regulations and laws and closing conventions that exist in every state and county that market participants must abide by,” Chaudhary said.

“Our solutions have eliminated the vulnerabilities that the mortgage closing process is exposed to from a compliance, fraud and cyber security perspective, and placed closings through real-time processing to confirm representations and data for the transaction and the counter-parties involved are accurate and carry backing from insurers to de-risk and improve asset quality as well.”

FundingShield’s APIs and LOS integrated services allow lenders, investors, homebuyers and title companies to confirm wired funds are going to intended recipients and transactions are free of impact from cyber and wire fraud, phishing, business email compromise or title fraud.

FundingShield, which is the only MISMO Certified Wire Fraud Prevention tool, was named a HousingWire Tech100 winner for 2019 and is also an IBM API Partner, among other industry initiatives and recognition.

FundingShield has identified and prevented wire and title fraud on over $560 billion in U.S. real estate and mortgage closings where the firm investigated, corrected and protected clients before any losses were incurred. 

FundingShield saves time and money with ROI over 200% by reducing time spent by compliance, vendor management, operations and closing teams while adding additional coverage of $2 million per residential transaction and $5 million per commercial transaction.

What is the risk? A sample of FundingShield’s Proprietary market analytics for the 2019 full year (Transaction means residential or commercial real estate investment or mortgage closing):

26.8 % of transactions were non-compliant

During 2019, approximately 26.8% of all loans were unique residential or commercial transactions that were not compliant with regulations or valid with insurers, due to at least one problem with closing document, licensing, transaction data or title vendor representation / compliance. This is a 34% increase from the last reported date of 20% during the same period the year before.

1 of 3 transactions had multiple issues

Upon further analysis, the number of non-compliant loans that had multiple defects was almost one-third of the 26.8% of loans. 

Increase cost of single loss + related recovery

Costs associated to wire fraud related losses, losses due to defalcations and the costs to inspect and update workflows / systems, recover funds and reinstate insurance policies after external consultants perform system and process analysis can reach up to $850,000.

Recent breaches due to fraud schemes and hacks – increased fines and reputational damage:

Fines from regulatory bodies, eroded shareholder value and customer trust.  Equifax recently paid $700 million and Facebook $5 billion. The Capital One breach has changed how many banks are interfacing with third parties altogether – evidence of how financial institutions are highly exposed to reputational risk.

www.fundingshield.com



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Кредити онлайн без відмови: гарний вибір безвідмовних кредитів онлайн

Укладений договір — повноцінний документ, на підставі якого діють кредитор і позичальник. У ньому прописані процентні ставки і умови мікрофінансування. Адреса: Проспект Степана Бандери, 13в, Київ, Україна. Без входу до особистого кабінету. З другого відозва і далі заявки розглядаються швидше: в середньому по 15 хвилин. Уважно перевіряти ваші документи нам вже не знадобиться, адже вони є в базі – тому постійні клієнти отримують відповідь набагато швидше. Деньги перечисляются на карту любого украинского банка. Без указания контактов родственников и коллег. Якість і хуткість обслуговування супер. Бажаю успіхів компанії на фінансовому ринку. Онлайн займ на карту без відмови має переваги і недоліки. До плюсів фінансових послуг від мікрокредитних компаній відноситьсякредит онлайн без відмови видають навіть тим людям, у яких погана кредитна історія кошти зараховуються майже моментально мінімум вимог (наявність у клієнта громадянства і вік від 21 року) гроші переводять на картку будь-якого банку немає потреби надавати заставу або шукати поручителів безпеку (якщо порівнювати з послугами приватних кредиторів) змога отримати позику в будь-який час доби і в святкові дні необхідність надати мінімальний пакет документів. Треті звертаються до зовсім недавно вийшли на фінансовий ринок молодих кредиторів, так званих МФО і МФК.      Їхні пропозиції суттєво відрізняються від пропозицій звичайних позикодавців. У цьому випадку необхідно надатидовідку, що підтверджує працевлаштування інформацію про сімейний стан дані про реєстрацію за місцем проживання документи, що підтверджують володіння нерухомістю. Що робити, якщо компанія відмовила. Сучасна техніка, гаджети, програмне забезпечення та вільний доступ в Інтернет ще кілька років тому могли здатися людям чимось фантастичним. Сьогодні ж вони сприймаються цілком природньо. Кредит з поганою кредитною історією. Онлайн позика на картку без відмови цілодобово – Отримайте гроші без відмов прямо зараз. Процес оформлення цілодобових кредитів максимально простий і зручний. Вказати в кредитному калькуляторі суму і період кредитування. Детальніше про позики з поганою кредитною історієюhttps://lady-groshi. Ua/kredit-z-poganoyu-kreditnoyu-istorieyu. Оформити кредит і отримати спішно гроші на карту онлайн. Вам не доведеться самостійно шукати організації, що надають послуги в вашому регіоні, обдзвонювати їх або читати сайт. Погасити отриману позику можна кількома способами.       За допомогою особистого кабінету на сайті МФО. Отримати позику можна після заповнення анкети позичальника, також потрібно вказати свої контактні дані. Заповнити анкету та подати заявку на кредитування можна через Інтернет за допомогою комп’ютера, ноутбука, планшета або смартфона.

Коли можна взяти кредити онлайн без відмови?

Кредит з поганою кредитною історією. Що робити, якщо до зарплати залишилася всього пара днів, а грошей в гаманці більше немає. Кредити онлайн без довідки про доходи без застави і довідки про доходи. Героїв Севастополя, 48 видача кредитів цілодобово, без вихідних. Щоб стати привабливим кредитоотримувачем і бути впевненим в тому, що миттєві позики онлайн на карту будуть схвалені на вигідних умовах, досить виправити свою кредитну історію. Зробити це можна за допомогою МФО. Без довідок, застави та поручителів. Рішення про видачу кредиту – за 8 секунд після заповнення онлайн заявки. Погасити займ найзручніше з банківської карти. Для цього пройдіть авторизацію на сайті МФО і проведіть платіж. Я повністю задоволена, беру кредит не перший раз. Завжди повертаю вчасно, тому мені дають знижену відсоткову ставку. В середньому вона становить близько 1% в день. Згідно законодавства України, мікрофінансова організація зобов’язана повідомити позичальника не тільки про добову ставку, а й про річну — APR (annual percentage rate. Щоб було деотримати кредит онлайн на картку без відмови , не витрачаючи на процес оформлення масу часу і сил. Моментальный кредит на карту от Miloan. Детальніше про позики з поганою кредитною історієюhttps://lady-groshi. Ua/kredit-z-poganoyu-kreditnoyu-istorieyu. Позика на карту миттєво цілодобово без відмови.      Люди завжди ділилися на тих, кому конче були потрібні гроші, і тих, хто ці гроші міг позичити. Можливість взяти кредит онлайн на карту. Таку послугу надають майже усі кредитори, адже це зручно та швидко. Без офіційного працевлаштування. Без офіційного працевлаштування. Відсотки за 1 день = 1000,00 грн * 0,01 / 100 = 0,10 грн. Відсотки за 10 днів = 0,10 грн х 10 днів = 1,00 грн. Оформити кредит і отримати спішно гроші на карту онлайн. Вам не доведеться самостійно шукати організації, що надають послуги в вашому регіоні, обдзвонювати їх або читати сайт. Навіть якщо у вашій історії були прострочення і невиплачені борги – у вас є високі шанси отримати позику. Ми – за чесні та прозорі стосунки між позичальником і позикодавцем.

Умови і строки оформлення цілодобового кредиту

Кінцеві умови уточнюйте при прямому спілкуванні з кредиторами. Что делать, если плохая кредитная история. Без офіційного працевлаштування. Без офіційного працевлаштування. По-друге, для того, щоб отримати позику на карту онлайн, доконечний мінімальний пакет документів. Як правило, для того, щоб отримати терміново займ на карту онлайн, необхідно тільки слушно оформити онлайн-заявку, уважно заповнюючи всі пункти, не допускаючи помилок або помилок. При цьому вони гарантують безпеку та конфіденційність усім своїм позичальникам. Завдяки сучасним можливостям заявники не стоять у чергах, не чекають годинами на рішення, не витрачають час на підписання договору. Цілодобова онлайн – сприяння для всіх позик та клієнтів. Постійна система кредитування на рівні нульового відсотка для всіх нових клієнтів. Тут важливо слушно відповідати на питання і нічого не вимудровувати. В іншому випадку, є ймовірність отримати відмову. Якість і хуткість обслуговування супер. Бажаю успіхів компанії на фінансовому ринку. Невиконання умов договору загрожує сплатою 0,1% від суми прострочення на день. Обидва пункти залежать від компанії, обраної з наведеної вище таблиці. Банкомат, Безготівковий розрахунок, Інтернет-банк, Каса банку, Платіжні термінали IBox/EasyPay, Платіжні термінали ПриватБанк. Безготівковий розрахунок, Платіжні термінали IBox/EasyPay, Платіжні термінали ПриватБанк. Кредити з поганою кредитною історією. Кредит готівкою без довідки про доходи. Тут важливо слушно відповідати на питання і нічого не вимудровувати. В іншому випадку, є ймовірність отримати відмову. Це організації, де можна отримати кредит онлайн на карту спішно и без відказу. Причому для цього не потрібно багато часу і зусиль. На карту, На банковский счет, В офисе. Без офіційного працевлаштування. Ви можете користуватися свої гроші на будь-які цілі. Для цього й існують мікрофінансові компанії, що б видати позику онлайн на карту цілодобово, а ви вирішити свої фінансові проблеми. Цілодобово отримати онлайн кредит на карту можна тільки в мікрофінансових організаціях. Ці фінансові установи надають цілодобовий кредит онлайн на карту.

Отримайте гроші

Багато МФО готові видати першу або акційну мікропозику під 0 відсотків на найвигідніших умовах. Однак важливо звернутися в надійну компанію і уважно прочитати договір, щоб бути впевненим у відсутності переплат. Саме ризикове рішення — звернутися до приватного кредитора. Зазвичай такі фінансові взаємини нічим не регулюються. Кредити видаються в автоматичному режимі. МФО не передзвонює і нічого не уточнює. На виниклі питання миттєво відповідає зичливий менеджер. Відсутність вимог до претендентів. Скористайтеся сучасною послугою онлайн-кредитування і отримайте позитивне рішення від. Всі умови для отримання кредиту в нашій Компанії прозорі, тому фактична сума погашення відразу ж відображається в онлайн-калькуляторі, що дозволяє самостійно підібрати зручний розмір кредиту. Тому особисті дані позичальника докладно вивчаються. Розглядається і кредитна історія, хоча вирішальну роль вона не відіграє. Кредит онлайн на картку без перевірки кредитної історії. Мікрозайм цілодобово на картку без відмови. Для цього не потрібні довідки та виписки з трудової книжки. Не потрібно їхати до відділення компанії — ви можете подати заявку навіть вночі, скориставшись онлайн-сервісами мікрофінансових організацій. Тут важливо слушно відповідати на питання і нічого не вимудровувати. В іншому випадку, є ймовірність отримати відмову. Якщо перший – це паспорт, то другим можуть бути, наприклад, водійські права або стратегічний квиток. Повний перелік документів, які можуть пред’являтися, краще уточнити у оператора або подивитися на офіційному сайті кредитної організації. Кредит без справок о доходах от CreditPlus. Без указания контактов родственников и коллегдо 6000 грн под 0,01% для новых пользователей.

Заповніть анкету

Отримати кредит онлайн на картку без відмови просто — головне підібрати найбільш підходящі умови. Слід ретельно вивчати всі умови надання послуг з кредитування. Нужны были срочно деньги, а друзьям пока дозвонишься и о встрече договоришься. Спасибо вам за такую скорость и удобство в пользовании. Онлайн займ на карту без відмови має переваги і недоліки. До плюсів фінансових послуг від мікрокредитних компаній відноситьсякредит онлайн без відмови видають навіть тим людям, у яких погана кредитна історія кошти зараховуються майже моментально мінімум вимог (наявність у клієнта громадянства і вік від 21 року) гроші переводять на картку будь-якого банку немає потреби надавати заставу або шукати поручителів безпеку (якщо порівнювати з послугами приватних кредиторів) змога отримати позику в будь-який час доби і в святкові дні необхідність надати мінімальний пакет документів. Моментальный кредит на карту от Miloan. Без указания контактов родственников и коллег. Кредити з поганою кредитною історією. Кредит готівкою без довідки про доходи. Незалежність від часу доби робить наш сервіс мобільних, оперативним і швидким у використанні. Тепер, незалежно від статусу і матеріального становища людини, цілодобовий кредит отримати дуже просто. Розпорядження Нацкомфінпослуг: № 803 від 07. Розпорядження Нацкомфінпослуг: № 1226 від 09. Щоб уникнути подібних ситуацій впроваджена система високих відсотків, яка покриває ризики. Ще один стоп-кран на шляху неблагонадійних клієнтів — це невисока сума першої позики. Позика онлай на картку без відмови в Україні. Наш сервіс дозволяє порівняти онлайн позики, обрати мікропозики і оформити позику на карту цілодобово 24/7: швидке схвалення, без довідок і відмов. Системи видачі мікропозик на банківську карту без відмови цілодобово аналізують анкети позичальників за багатьма параметрами. І якась нестиковка в анкеті, а також свідомо помилкова інформація здатна перешкодити схваленню.

Бугай Ірина

Це реальний шанс оформити кредит онлайн на карту срочно і без відказу в Україні для студентів, пенсіонерів, а також громадян, які працюють неофіційно. Спробувати щастя в МФО можуть і ті, кому відмовляють в банках із-за поганої кредитної історії. Порівняй умови кредитів в Україні. кредит онлайн на карту срочно і без відказу 2019 Kredit House All Rights Reservedkredit. Їх основна відмінний від фізичних осіб, які теж пропонують подібні послуги — це наявність відповідної ліцензії на здійснення фінансової діяльності, що гарантує їх права та захищає від недобросовісних кредиторів. Відозва в МФО дозволяє уникнути шахрайства, афер і інших ризиків. Підтвердити це може поява на даному ринку такої новинки як цілодобовий кредит онлайн, який можна оформити через Інтернет, такі кредити часто називають щемікрокредитами (мікропозиками) кредитами до зарплати. У сучасному світі оформленням кредиту в якійсь банківській установі здивувати кого-небудь важко. Саксаганського 133-А : ТОВ “ВЕЛЛФІН. Розпорядження Нацкомфінпослуг: № 2606 від 27. Крім великого асортименту фінансових продуктів, є ще один плюс: всі операції на сайті KreditOk виконуються безкоштовно. Сайт не виступає посередником, не стягує з клієнтів плату за ужиток ресурсу. Обставини змусили спішно знайти гроші, сума невелика, але все ж потрібно було терміново і пізно вночі. Подала заявку в “Качай Гроші”, відповідь і кошти надійшли дуже швидко, оформляла на довгий термін, фактично віддала через 5 днів. Щоб уникнути відмови в позиці, постарайтеся чесно заповнити всі необхідні поля анкети. Плюси онлайн кредитів в Україні. Доступність 24/7 – більшість кредитних організацій надають безвідсоткові позики незалежно від часу доби і дня тижня, працюючи без вихідних. Тому якщо ви потрапили в будь-яку непередбачену ситуацію, завжди є змога оформити позику: вночі, рано вранці або в розпал будь-якого свята. Цілодобово отримати онлайн кредит на карту можна тільки в мікрофінансових організаціях. Ці фінансові установи надають цілодобовий кредит онлайн на карту.

Топ рейтинг онлайн казино Украины

Приветственные бездепозитные бонусы за регистрацию начисляются один раз на IP-адрес/аккаунт/домашний адрес/номер телефона/компьютер и т. Игорные операторы всячески пресекают попытки мультиаккаунтинга. Com и остановившийся в забронированном объекте размещения. Благодаря этому правилу мы точно знаем, что все наши отзывы написаны настоящими гостями. Наибольшей популярностью онлайн казино на биткоины пользуются среди стран, где закон либо частично, либо полностью ограничивает игровую деятельность. Например, это отличное решение проблемы для большинства игроков стран СНГ, которые испытывали различные сложности в поисках подходящего казино и игры на игровых сайтах уже начиная с 2014 из-за законных оснований. Com отражают мнения наших гостей и партнеров, и мы с уважением к ним относимся. Мы будем как можно быстрее публиковать каждый отзыв целиком, независимо от того, негативный он или позитивный, при условии, что он прошел проверку на соответствие правилам Booking. В этом разделе речь пойдет о наиболее распространенных типах бонусов, предлагаемых казино онлайн. Com сгруппировали для Вас лучшие бонусы казино, получить которые Вы можете прямо сейчас. Audited and guaranteed fair by TSThttps://www. Software: Real Time Gaming (RTG. Тоттенхэм (MeLToSiK) – Арсенал Лондон (sane4ek8. Реал Мадрид (Kray) – Барселона (mooneycb.

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Com отражают мнения наших гостей и партнеров, и мы с уважением к ним относимся. Мы будем как можно быстрее публиковать каждый отзыв целиком, независимо от того, негативный он или позитивный, при условии, что он прошел проверку на соответствие правилам Booking. Com отражают мнения наших гостей и партнеров, и мы с уважением к ним относимся. Мы будем как можно быстрее публиковать каждый отзыв целиком, независимо от того, негативный он или позитивный, при условии, что он прошел проверку на соответствие правилам Booking. Comp Очки это деньги William Hill. Бездепозитный бонус 1000 UAH SlotoKing. Введите номер вашего бронирования. Отзыв может оставить только гость, забронировавший проживание через Booking. Курорты Для Отдыха С Детьми в Эсто-Садке. Отели с балконами в Эсто-Садке. Использовать можно в любых слотах азартного клуба. Начисляются сразу же при активации промокода promovulkan и пополнения депа по условиям акции.

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Шахта приехала вторым составом думая обыграть одной левой Ворсклу считая её говном. Но после первого тайм поняли что ошиблись дальше по накатанной плюс настрой Ворсклы. Com отражают мнения наших гостей и партнеров, и мы с уважением к ним относимся. Мы будем как можно быстрее публиковать каждый отзыв целиком, независимо от того, негативный он или позитивный, при условии, что он прошел проверку на соответствие правилам Booking. Бездепозитный бонус / Бонус на первый депозит / Пакет бонусов. Приветственный бонус 100% / Фриспины / CashBack. Сайты, перечисленные в начале страницы, наверняка подойдут вам. Но в том маловероятном случае, если эти сайты вам не подойдут, ознакомьтесь с нашим списком лучших универсальных сайтов для азартных игр. При создании личной страницы введите в казино Royal Spinz регистрационный код от JohnnyBet и эксклюзивно получите. Бесплатные спины, предоставленные RoyalSpinz, можно отыграть в любом понравившемся слоте. Ставлю уже 2 года и ни разу не возникло никаких проблем. Большое спасибо за отзыв, приятной игры. Такими деньгами можно смело рисковать. Играть всегда и везде помогает мобильное приложение, устанавливаемое на мобильный телефон или планшет. Итак, это наиболее важные моменты, опираясь на которые мы составили топ-лист самых лучших интернет-казино 2020 с хорошей отдачей. Все заведения ведут не более как честную игру и выполняют свои обязательства перед игроками в полном объеме. А вот так никто не узнает об этих нюансах до тех пор, пока не захочет вывести якобы “честно выигранные” деньги после нового пополнения. Вот такая вот каббала, дорогие товарищи игроманы.

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As the mortgage business continues to try to deal with the repercussions of interest rates hitting an all-time low last week, it appears that some lenders are inflating their advertised mortgage rates to try to stem the tidal wave of mortgage applications they’re receiving.

A review of the top mortgage rate comparison sites (LendingTree, Bankrate, Zillow, Credit Karma and several others) shows lenders advertising rates well above the all-time low that rates fell to just last week.

On several sites, there appear to be far fewer quotes from lenders than there typically are. Beyond that, the rate quotes that do appear are, in some cases, more than a full percentage point above the record low of 3.29%.

So, why are the rates so high? Last week, HousingWire spoke to numerous lenders, mortgage brokers and other mortgage professionals who hinted that some lenders may be keeping their mortgage rates above where they could be in an effort to control the demand for mortgages.

Put simply, many lenders are so busy right now trying to process the loan applications they’ve already received that they’re pushing their interest rates well above the prevailing market rate so they can actually deliver on the loans they already have in their pipeline.

HousingWire searched many of these mortgage comparison sites on Tuesday, using identical financial information to try to ascertain an apples-to-apples comparison of the different sites.

On Bankrate, for example, the advertised rates that showed up when HousingWire searched Tuesday ranged from 4.75% all the way up to 6% for a refinance. Even Bankrate itself is acknowledging that those rates are well beyond the expected level.

After searching for a mortgage rate, the following message appears in a pop-up on the site:

You may find that advertised mortgage rates are higher than expected right now. Market factors have caused a surge in applications, which has exceeded lenders’ capacity levels and therefore impacted displayed rates.

Mortgage rate searchers are then encouraged to sign up for an email update when the displayed rates are “back to market levels.”

Bankrate mortgage rate update for borrowers

It’s much the same on Zillow, where interest rates for a 30-year refi varied from 4.75% to 5.375%. And it was the same on Trulia, which pulls its mortgage data from the same place Zillow does.

Zillow rate comparison as of March 10

The story was the same on Credit Karma, where only two lenders appeared. The advertised interest rate from those lenders: 4.75% and 5.25%.

Credit Karma rate comparison as of March 10

On Nerdwallet, meanwhile, a search only returned one lender: Rocket Mortgage by Quicken Loans. The quoted interest rate? 4.536%.

Nerdwallet’s site also noted that the prevailing interest rates rose by nearly 20 basis points (0.19%, to be exact) in the last 24 hours.

A similar jump is also shown at LendingTree, where its rate trend graph shows an increase from 3.35% on Thursday to 3.68% on Saturday. The advertised interest rates on LendingTree were a little closer to expected, with three lenders all below 3.375%.

LendingTree rate comparison as of March 10

The situation was far more dire on Redfin, where literally zero lenders appeared in a search for a 30-year refi. The page featured the following disclaimer at the top: “Quotes missing or too high? Our lenders are over capacity right now due to the latest interest rate cuts. We recommend checking back later.”

Over on Realtor.com, the mortgage search returned rates at big banks like Citibank, HSBC, and Bank of America that were at 3.3% or below. Credit.com showed no lenders when HousingWire attempted to search its site for mortgage options, while Smartasset only showed one lender advertiser, which did not display an advertised rate.

Wallethub showed a number of mortgage options, with an available interest rate of 3% for 30-year refi, but all of the larger lenders, including Citi, Wells Fargo, and JPMorgan Chase showed rates well above the presumptive market rate. Chase was more than a full percentage point above the record low of last week, displaying an advertised rate of 4.375%.

While it appears that some lenders are marking up their rates to try to deal with their capacity issues, the next question is how long will this phenomenon last? Will lenders move rates back down once they return to a manageable workload? Or will it end up that the record lows in interest rates were just a fleeting moment? We’ll see soon enough.



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