The Future Of Mortgage Lending

This is not a fundraising site.  There are no special interests or hidden agendas.  This site was created only to communicate a shared message to policy makers with real world factual examples on behalf of consumers and small business. 

am a mortgage professional and small business owner that understands the analytics and facts about what my employer, the consumer, faces when obtaining or shopping for a mortgage loan in the primary mortgage market.  While most are influenced by special interests or self-serving desires, I will continue to share these facts about our industry and right vs. wrong when it comes to consumer choice and access to credit proposed by new regulations.  I witnessed what happened and I’ve been through it all over the last 12 years.  I believe everyone should support all channels of loan origination (if run properly and ethically), but defend wholesale lending and the “NEW” Mortgage Broker as I’ve seen and experienced the positive things we’re able to do for our clients and consumers in the United States.  We want to support and not prohibit competition and choice for the consumers we serve.

I personally agree with the compensation reform changes and improvements the CFPB made to the Fed's recent change, anti-steering accountability, and existing changes that positively impact consumer’s choices and protect their interests even with some of the unfortunate unintended consequences that are inevitable.  My concerns are simply with the most recent final ruling under QM and what is defined to be included in the 3% cap on points and fees (see GFE comparisons).  This is the first major change that significantly impacts consumers and small business in a negative manner and it needs to be corrected and better understood before January 10, 2014.

Andy W. Harris, CRMS  |  President

 Vantage Mortgage Group, Inc.

Andy Harris NMLS# 124161
Harris Consulting, Inc. DBA Vantage Mortgage Group, Inc. OR & WA State Licensed - NMLS#  35986
Equal Housing Lender.