Spillane Consulting Associates, Inc.

03/14/2023

How can you be sure that your mortgage servicing team has the systems and processes in place to handle new product types in an efficient and compliant manner? SCA's Heather Papows walks you through the steps in this short video:

03/07/2023

In today’s world, most of us could not imagine living without the modern advances made by the use of technology and automation. It’s no different in the lending world; so many of our processes are reliant on automation- whether you realize it or not. Do you use an LOS to process loan applications? Automation. How about onboarding to the core? Automation. Even if you don’t use an interface, your core has automation by way of applying product defaults, generating daily reports, the posting of general ledger entries, and more. Initially, the use of automation was a way to remove the duplication of efforts and speed up a tired process. But now, we rely on it so much that often we forget to understand the mechanics of how it all works.

In a loan servicing operation, the process of managing an investor portfolio is a great example of this. The system advances and recovers funds, reports activity, sums your delinquent or prepaid totals, and calculates amounts to remit on your behalf. The core produces reports full of information and data to be used. All of this helps ensure a clean and balanced portfolio. But how much of those actions going on behind the scenes do we truly understand? Could we break this process down and replicate it manually if we had to? When something is wrong, do we know how to analyze pieces of it to find the missing link?

Continue reading on our blog:

By Heather Papows, Loan Servicing & Secondary Market Consultant In today’s world, most of us could not imagine living without the modern advances made by the use of technology and automation. It’s no different in the lending world; so many of our processes are reliant on automation- whether

03/02/2023

O.K. So you just hit the button and submitted your 2022’ HMDA LAR to the CFPB, March 1st to meet the deadline. Now what? You realize you are already two months behind in working on and reviewing your LAR data for 2023.’ Does it ever end?

Discover how you can simplify the HMDA reporting process by using SCA’s team of industry experts to integrate all aspects of the HMDA LAR. Let SCA reduce the stress and the process for your financial institution, making your LAR submission as worry-free as possible by:

-Identifying and correcting errors on multiple data records concurrently

-Performing either a full or partial HMDA scrub using SCA’s team of advisors to review and compare each HMDA data entry on your LAR to the loan documents viewed through “audit access” within your LOS system to improve data accuracy, thereby eliminating the probability of reporting errors prior to submission.

Perhaps you are looking for a partial scrub or review to be performed on your residential, commercial or home equity lines of credit., SCA can review and target specific fields such as loan purpose, or action taken and even focus attention on adverse action, withdrawal/declined loans providing a thorough third-party independent sampling (maybe just a 10% sampling to avoid any systemic issues) on either a monthly or quarterly basis, depending on your specific needs, to eliminate last minute surprises or guesswork.

You should also be aware that SCA’s HMDA consultants, with decades of lending experience realize that training is an integral part of the HMDA review and reporting process. Ask yourself the following question:

Does your current HMDA review process need a complete refresh based on prior HMDA results or exams, changes in personnel or just some updated training to your existing staff?

SCA’s HMDA team can help prepare your employees to “Get It Right” as the CFPB’s guide states by participating in our comprehensive HMDA training program, that includes both HMDA technical reporting, industry best practices, and/or customized training if required.

Let SCA’s HMDA team eliminate the stress and worry, as well as the excessive time devoted to identifying and reducing your data field errors, by providing a clean and accurate HMDA LAR ready for submission, allowing you to eliminate at least some stress in your life.

For more information regarding SCA’s HMDA LAR review services and other SCA consulting and loan services that we provide, contact Bill Dolan, Director at (617) 694-2617 or visit our website to learn more about SCA working with you.

by: Bill Dolan, CMB, AMP/ Anne Aalto O.K. So you just hit the button and submitted your 2022’ HMDA LAR to the CFPB, March 1st to meet the deadline. Now what? You realize you are already two months behind in working on and reviewing your LAR data for 2023.’ Does it ever end? Discover how you can ...

03/01/2023

With our wide array of customizable products and solutions spanning each mortgage lending area of specialization, we have just the right thing to keep your business thriving in 2023.

Loan Origination Solutions

Spillane Consulting Associates’ experts have hundreds of years of collective experience in managing origination operations of various sizes around the country and we are here to put our expertise to work for your organization. We will make sure that your staff, your systems and processes, and your technology are all optimized while ensuring that all compliance regulations are satisfied at every step of the process.

Loan Manufacturing Assessment: SCA's skilled team will work with you to review the process of loan manufacturing from initial customer contact to onboarding or investor funding. We perform a detailed review by working with your staff to document your current processes, technology, and compliance. We will them provide a roadmap to achieving your strategic goals.

Technology Consulting: Spillane Consulting Associates has a talented team composed of seasoned professionals, who can help you install, upgrade, or improve your residential lending technology platform. We have certified administrators with some of the most popular lending technology platforms on the market to keep your residential mortgage lending systems running smoothly.

Ongoing Support: SCA will work with you to monitor and maintain your systems and processes ensuring your operation continues working soundly and delivering results.

For more information on how SCA can assist with transforming the way you operate and develop your go-forward strategies, please contact Bill Dolan, Director, at [email protected] or by phone at (617) 694-2617.

With our wide array of customizable products and solutions spanning each mortgage lending area of specialization, we have just the right thing to keep your business thriving in 2023. Loan Origination Solutions Spillane Consulting Associates’ experts have hundreds of years of collective experien

02/17/2023

Several Pool Offerings Available for Sale!
Improve Your Portfolio Performance in 1st Quarter 2023.

Pitchers and catchers began spring training practice this past week and before you know it, the spring market will be right around the corner. Will your institution be prepared to increase your commercial real estate or residential loan volume for your balance sheet this spring or, do you need an alternative due to the current lack of loan origination volume and low housing inventory? If so, the SCA Mortgage Exchange, a mortgage banking advisory group has several pools of loans available for bid, to fill that niche.

The SCA Exchange is currently offering a Commercial real estate pool comprised of 25 loans in the amount of $66.7M. The pool may be purchased at 100% or negotiated as a participated split with the Seller. The WAC =6.1%, DTI = 2.32, FICO = 718, LTV= 82.53.

The second pool for sale is comprised of 475 Fixed and Adjustable Rate mortgages with an Unpaid Principal Balance of $236.0M. This pool may be purchased in whole or split in $5M minimum increments. The WAC =4.318%, LTV =74.61, DTI =36.21, FICO =750.

The Exchange was notified that a Community Bank is looking to sell both Fixed and Adjustable-Rate Jumbo mortgages. Bids are based on the asset sale only and the mortgage servicing rights will be retained by the Seller. The Seller has a pool of Fixed Rate Jumbo mortgages totaling $5M.

Bids on the first two pools are due no later than 5:00PM on Thursday, March 9, 2023.

If you are looking to enhance your balance sheet with mortgage assets and require additional information on this package or other upcoming offerings (Purchase/Sell) that you may be interested in through the SCA Mortgage Exchange, please contact Bill Dolan, Director at (617) 694-2617 or email at: [email protected]

Improve Your Portfolio Performance in 1st Quarter 2023 Pitchers and catchers began spring training practice this past week and before you know it, the spring market will be right around the corner. Will your institution be prepared to increase your commercial real estate or residential loan volume

01/31/2023

Thank you to all of our clients for another successful and productive year of growth. Here are some of the engagements that we completed in 2022. Call us today for a free consultation to see how SCA can help you reach your residential lending goals in 2023.

01/24/2023

A redlining violation could never happen to you right?
Better take a second look!

For those of you who have not been following SCA’s blogs or newsletters for the past few weeks, much of our attention has focused on CRA, Fair Lending and HMDA.

Just last week, SCA posted an article highlighting a California Bank penalized by the Dept. of Justice (DOJ) to the tune of $31M for refusing to underwrite loans to predominately Black and Latino communities, the largest redlining settlement in department’s history.

This could never happen to you, right? If not, why not? Ask yourself the following questions:

Does your lending team really know what redlining is?

Has your CRA assessment area been drawn that excludes areas with relatively high concentrations of minority residents?

Who is reviewing your HMDA data on a regularly scheduled basis (President and Senior Management, Compliance Officer, Auditing, Lending) in the areas of number of applications received, withdrawn, approved not accepted, and closed for incompleteness in your market that has relatively high concentration of minority group residents compared to low concentrations of minority residents?

Fair Lending and CRA compliance are so deeply interrelated that regulators are using the HMDA data to demonstrate whether your institution is under-penetrating your market. It is therefore critical that you familiarize your organization with any/all apparent anomalies in your reported HMDA data within your assessment area.

You need to review prior CRA and Fair Lending performance evaluations to ensure that you are conducting advanced analysis regarding the following:

Institution’s geographic distribution of loans

Concentration of loans made within your assessment area

Customer complaint data

Economic and demographic data about your local communities

If you are unsure how to get started, look no further. If you have an upcoming CRA /Fair Lending exam or your staff is unsure as to how to read the data found on your HMDA LAR, SCA can provide your organization with a Compliance Audit and Data Analysis Review to address these specific areas. SCA’s Compliance Consultants are subject matter experts whose deep knowledge and work experience in this field spans over 25 years.

This settlement by the DOJ should send a very strong message to the financial industry that the regulators and examiners expect lenders to serve all members of your community and that you will be held accountable when you fail to do so.

Get started by contacting Bill Dolan, Director at (617) 694-2617 and also visit our website at scapartnering.com to learn more about SCA’s services we provide our industry each and every day.

https://www.scapartnering.com/blog/better-take-a-second-look

By: Bill Dolan, CMB, AMP For those of you who have not been following SCA’s blogs or newsletters for the past few weeks, much of our attention has focused on CRA, Fair Lending and HMDA. Just last week, SCA posted an article highlighting a California Bank penalized by the Dept. of Justice (DOJ) to

01/03/2023

Start 2023’ Off on the Right Foot by Increasing Your Balance Sheet

$224MM Pool of Fixed & Adjustable-Rate Mortgage Loans Available for Sale

Details on our website below:

Start 2023’ Off on the Right Foot by Increasing Your Balance Sheet The SCA Mortgage Exchange, a mortgage banking advisory group is pleased to present an offering of $224MM of residential mortgage loans consisting of 450 Fixed-Rate and Adjustable-Rate mortgages. The breakdown of this pool is as fol...

12/15/2022

Meet the SCA Team: Donna L. Thaxter

Donna joined SCA in 2022, bringing with her over 35 years of mortgage banking experience. Before joining the SCA Team, Donna was the SVP of Mortgage Operations at Envision Bank in Massachusetts.

Throughout her career, Donna has focused on talent development and training as a key driver of success in the mortgage banking industry. In 2000 Donna co-founded PeopleSmart, a training and development company that specializes in mortgage and retail banking. PeopleSmart partnered with clients to design and facilitate training courses that addressed critical skills and knowledge acquisition. Topics included Compliance (HMDA, Flood Disaster Protection, Fair Lending, TRID), Sales Training for MLOs, Service Excellence and Management & Coaching.

Donna is now available with out-of-the-box and custom-tailored solutions to help your organization refine its workforce and better meet it’s mortgage banking goals.

In this series we will highlight some of the folks that keep the SCA machine moving forward and continually improving year over year to best meet our clients needs. This week, we’d like to introduce a new addition to the team:

12/13/2022

Small Lenders No More?
CFPB Issues HMDA Technical Amendment

For those of you not aware of the recent technical amendment to the HMDA rule issued by the Consumer Finance Protection Bureau (CFPB), this technical amendment updates Reg C to reflect the closed-end mortgage loan threshold, pursuant to a recent court decision.

On September 23, 2022, the U.S. District Court for the District of Columbia vacated the increased loan-volume reporting threshold for closed-end mortgage loans that was in the 2020 HMDA Rule.

As a result of this new order on September 23, 2022, the closed-end mortgage loan reporting threshold is now 25 loans or more in each of the two preceding calendar years – this was the threshold that was established by the 2015 HMDA Rule.

Continue reading on our blog:

CFPB Issues HMDA Technical Amendment By Bill Dolan, CMB, AMP For those of you not aware of the recent technical amendment to the HMDA rule issued by the Consumer Finance Protection Bureau (CFPB), this technical amendment updates Reg C to reflect the closed-end mortgage loan threshold, pursuant to

11/02/2022

Flow Loan Deliveries!

Effective January, 2023’, the advisory group at the SCA Mortgage Exchange can help you manage your asset balance sheet and increase your liquidity on a regular monthly or quarterly flow loan basis.

We at the exchange are excited to partner with several Sellers who are ready to deliver residential mortgage loan products in a timely and accurate manner.

Our years of experience allows all flow delivery services to be customized to meet your bank or credit union’s needs. We are seasoned with delivering all types of loan products including fixed rate conforming, super conforming, ARMs, or Jumbo loans.

Using the advisors at the SCA Mortgage Exchange to deliver flow loan sale transactions will allow you to expand your secondary market sales, retain assets within your loan portfolio and manage your direct expenses.

For more information or a free consultation, contact Bill Dolan, Director at (617) 694-2617 or visit our website at SCAPartnering.com and click on the SCA Mortgage Exchange and complete your loan package detail requirements.

www.scapartnering.com/blog/flow-loan-deliveries

Effective January, 2023’, the advisory group at the SCA Mortgage Exchange can help you manage your asset balance sheet and increase your liquidity on a regular monthly or quarterly flow loan basis. We at the exchange are excited to partner with several Sellers who are ready to deliver residential ...

10/20/2022

Increase Assets on Your Balance Sheet Before Year-End!



The SCA Mortgage Exchange, a mortgage banking advisory group is pleased to present an offering of $137MM of residential mortgage loan assets consisting of 274 fixed-rate and ARM loans. The breakdown of the pool is as follows:

The WAC is 4.041% with a remaining term (WAM) of 355 months along with an LTV of 73.90% and a DTI Ratio of 34.15. The average FICO Score is 751.

Please note that 98% of this pool is originated and located within the New England area.

The pool may be divided up, if interested. Servicing of this package will continue to be retained by the Seller. All bids based on the Pass-Thru Rate of 3.791 for this pool are due by 5:00PM on Tuesday, November 9, 2022.

If you are looking to enhance your balance sheet with mortgage assets and require additional information on this package or other upcoming offerings (Purchase/Sell) that you may be interested in through the SCA Mortgage Exchange, please contact Bill Dolan, Director at (617) 694-2617 or email at: [email protected]

View this listing on our website below:

Increase Assets on Your Balance Sheet Before Year-End!           The SCA Mortgage Exchange , a mortgage banking advisory group is pleased to present an offering of $137MM of residential mortgage loan assets