Day: October 21, 2020

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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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 a change that affects the lender’s FHA-approval status. One way they can do this is with a Notice of Material Event, which is submitted via LEAP. In our 30 years …

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FBC Mortgage Smooths Out Accounting Processes and Gains Invaluable Financial Insight with Loan Vision

The accounting department at FBC Mortgage, LLC (“FBC”) was trying to keep up with the rest of the company’s growth, however they had outgrown the legacy system that was implemented in 2011. Dissatisfaction came to a head when a system upgrade ended up shutting their department down for days. Even after the system was fixed, …

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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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Triple-Bottom Line: How to be a more sustainable business in 2020

When you look at the word “sustainable”, the first thing that may come to mind is your impact on the environment. But how does that definition change when you think about business sustainability? Many in today’s society would say that it is still rooted in the idea of leaving a better planet than the one …

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