Lykken On Lending

In response to the CFPB’s Policy Guidance concerning mini-correspondent lending, the law firm Gregg & Valby, has written a series of articles providing Policy Guidance to the mortgage industry.  On today's broadcast, we will be discussing the content of these Policy Guidance, which can be divided into the following four groups of questions: Questions relating to the majority of the mortgage loan origination activities performed by a lender in originating a covered transaction;Questions designed to ascertain whether the warehouse line of credit is bona fide;Questions pertaining to the true relationship between the originating lender and the investor of the covered transaction in question; andQuestions concerning the operational plans, steps, measures, and actions made and/or taken to effect the successful transition from broker to correspondent lender.  Created BY mortgage professional FOR mortgage professionals, Lykken on Lending is a weekly 60-minute radio program hosted by mortgage veteran, David Lykken