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Evaluating Your Accounting Department
As we all know, the one constant in the mortgage business is change. This past year has been no different, with volumes pushing operations to the limit. How has your accounting department been impacted? The need for accurate financials has always been important, but if management is waiting 30+ days to evaluate the performance of the company from the prior month, you need to recalibrate. For accounting information to be valuable, it needs to be both accurate and timely. To achieve this, you will need to invest in your accounting department and make sure it is prepared to scale when volumes are up and adjust when volumes are down. We are often asked at CWDL, …
Evaluating Your Accounting Department
As we all know, the one constant in the mortgage business is change. This past year has been no different, with volumes pushing operations to …
Economic Implications of 2020 and the Consolidated Appropriations Act (CAA)
At the end of December, we typically give a general update to clients for year-end planning. The standard practice is to review realized gains, ordinary …
Royal United Embraces Loan Vision, Gains Deeper Insight into Financials
Back in 2016, when Nolan and I began discussions concerning Royal United’s finance department, he had only been in his position as CFO for a …
Four Tips For Communicating More Effectively with Your Branches
It’s no secret that most branch managers were (and may still be) high performing loan officers and because of this, the vast majority naturally tend …
Open Mortgage Leverages Loan Vision to Automate Processes and Provide Granular Financial Information
When we began discussions with Open Mortgage’s accounting department, they had been straining under heavy workloads, doing all they could to get a glimpse into …
Your Company Received a PPP Loan. Now What?
Whether your company elected the 24-week (168 day) period or the 8-week (56 day) period now is the time to be thinking and preparing for …
Coronavirus Tax Relief Under the Stafford Act
The President issued an emergency declaration in response to the coronavirus pandemic under the Stafford Act and subsequently approved major disaster declaration requests under Sec. …
Expediting the Mortgage Bankers’ Financial Reporting Form
As you may already be well aware, every quarter, independent mortgage banks who do business with GSEs must submit a completed Mortgage Bankers’ Financial Reporting …
4 Reasons an FHA Lender may have to file a Notice of Material Event
Within the myriad of rules and regulations FHA lenders must follow is notifying the FHA of a change to the information provided at approval, or …
