TOPIC: Products and Services

Bringing Mortgages in house

Manager at a credit_union ($141MUSA)
We previously used a 3rd party originator/underwriter for our Mortgage program and I am in the process of bringing it in house.  Was hoping that someone would be willing to share their mortgage origination process/procedures and also a job description for a Mortgage Originator/Underwriter. Also if anyone has insight on a starting salary for an originator that would be helpful.   Basically am building it from scratch so anything is helpful.

    GAP and Warranty Insurance

    VP at a bank ($152MUSA)
    We are going to begin offering GAP and Warranty insurance.  Neither will be a requirement, but we will retain a portion of the fee.  For the ones of you selling these products and retaining a portion of the fee, do you consider the portion of the fee retained as a prepaid finance charge?  Thank you.

      Byte Users

      SVP at a bank ($153MUSA)
      Are there any Byte users on here that could help me with a question on Cure calculations for Taxes and Other Government Fees?  It seems that their LOS system is not using the 10% aggregate for this so it always shows a larger cure than what we calculate. Have any of you using Byte run into this? You are welcome to direct message me if you would rather.

        Loan Workouts | Product Demo

        Loan Workouts Product Demonstration - Thursday, May 21 | 3 p.m. ET
        Save your seat

        In our recent industry survey, over 70% of respondents mentioned COVID-19-related loan workouts were a concern. 

        Lenders in many markets will face a wave of negotiations and restructures as they seek to stabilize those borrowers who can recover from the events of early 2020, and protect the lenders’ interests in cases where no recovery is likely.  Join this conversation with product experts and implementation consultants at Abrigo to see how the tools you already have in place can make this process more efficient.  In this sixty minute webinar, we will discuss how the Abrigo software offerings address the following important considerations:
        • Establishing and applying consistent criteria for decision-making
        • Triage and prioritization for stabilizing troubled customers
        • Present-value modeling for terms of restructured agreements
        • Efficient communication for (likely understaffed) special assets teams
        • Integrated processes for secure, distributed decision-making
        Register here 

          Foreign Transaction Fees

          Manager at a bank ($83MUSA)

          We're in the middle of a vendor conversion and have decided to allow foreign debit card transactions to customers while traveling. Does anyone know where to find the fee guidelines under Mastercard? We need to re-disclose before enabling the service but can't find anything around fee thresholds. Any guidance is much appreciated!