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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 to be hyper-focused on production goals when it comes to performance review time. However, despite its undoubted importance production is not the be-all, end-all performance measurement metric. Working and speaking

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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 loan-level data for years. Lacking the information the company craved, we found that their combination of Quickbooks, a proprietary sub-ledger, and multiple Excel files just wasn’t cutting it anymore. Not

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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 the loan accounting and subsequent forgiveness reporting. PPP Loan Accounting By now most Companies should have recorded the loans on their financial statements. What’s next? In June 2020, the AICPA

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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. 401(a) of the Stafford Act for all 50 states. Jurisdiction for the state of emergency, which took effect January 20, 2020, provides relief and assistance to businesses – including tax

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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 Form (MBFRF) via the online webMB portal. Failure to report on time doesn’t just lock a lender out of their webMB account, it could potentially mean suspension or disqualification of

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Three Questions to Ask if You are Considering Migrating to the Cloud in 2020

The past few weeks have certainly been interesting to say the least. Every department within a mortgage bank has been stretched like never before as lenders look to convert swollen pipelines, and deal with mounting forbearance requests all while shifting entire office bound workforces to remote. Before Covid-19 approached these shores, cloud migration was a

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COVID-19 Federal Tax Update and the CARES Act

We were originally asked to write about the tax changes to employee business expenses under the Tax Cuts and Jobs Act of 2017 but we would be remiss to not provide an update on the tax law changes and the CARES Act due to the impact of COVID 19. With the growing uncertainty we are

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