Mortgage Banking


mortgagebankingIn order to cater to the increasing needs for regulatory compliance, mortgage banks must adopt a wide-ranging method to compliance risk management (interfacing regulatory analysis, determining contesting regulations, incorporating operational process controls, managing data quality, and planning documents management).

Mortgage banking stakeholders comprehend the challenges, while adhering to transforming regulations and requirements from government regulators, government-sponsored enterprises (GSEs) and investors. Regulatory compliances impact the complete life cycle of originating and servicing a mortgage loan. The emphasis is on data quality related to decision-making, calculations, and analytics.

An organization cannot be looked upon as being compliant with a procedure unless it delivers proof of the functions, procedures and data represented by the rule. In order to prove “evidence of compliance”, an organization must record the connection between compliance rules, calculations conducted, and data derived.

There exist five critical components of managing a compliance program that delivers evidence needed to reduce compliance risk:

Regulatory Interpretation

Compliance is related to a comprehensive documentation of regulatory, investor, state and corporate needs. It is directly connected to the operational processes, data, and reports impacted by a distinct requirement. The process is handled by a team of stakeholders to bridge the gap between business and technology. The stakeholders collaborate with business, legal, IT and compliance personnel to interpret and record regulatory needs.

Regulatory Controls

It facilitates the interpretation of regulations being translated into related business processes. It needs a comprehensive process design, control, and management. Efficient process controls also need a robust elucidation of the process, an effective understanding of the key points of control and proper reporting that particularly addresses the key control points.

Exception Management

An effective process control and monitoring system would result in business process exceptions being reduced.

Data Integrity

 The effective execution of the previous three components would have a major impact on data quality. It is structured to facilitate the veracity and flexibility of data across the life cycle. The data quality is validated by the integrity of the source.

Event Data

 At the time of origination, servicing and default management, a loan transits via multiple stages and critical processing outcomes. It is vital for the data to be documented at the same time as the occurrence of the event to ensure compliance afterward. For instance, during the origination process, a distinct fee is modified in excess of an elucidated ceiling, the modified values along with the event are managed and used in compliance reporting.

Data Transfer

 Identify the perfect source system for specific elements and effectively transfer the data elements to a centralized repository. The lack of accuracy during the data transfer process is a vital reason for bad data quality. It needs inefficient initiatives to integrate the data later on.

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Moody’s Downgrades The UK’s Credit Rating


downloadThe prominent global credit rating agency, Moody’s has cut the UK’s credit rating outlook to “negative” after the nation voted to leave the EU. The outcome is expected to herald an extended period of concern.

The rating agency said the result of the referendum would have significant negative inferences for the nation’s medium-term growth position. It also reduced the UK’s long-term issuer and debt ratings to “negative” from “stable”.

The agency stated that the negative impact from lesser economic growth would offset the fiscal savings from the UK since the nation need not contribute to the EU budget in the future. It added that the nation had one of the biggest budget deficits among developed nations.

Experts believe that in the long term the UK’s credit rating may have an impact on the nation’s households.

Traditionally, the borrowing rate of the government is the standard for the other interest rates pertaining to the economy to be established.

Usually, a lower rating would typically match to higher borrowing costs. Under such a scenario, the impact would be felt by various sections in the longer term – the government, firms, and households.

The financial assessment came after the historic referendum in the UK on June 23rd, 2016. In essence, credit rating agencies, rate a nation on the basis of its economic strength.

More precisely, they rate governments, large firms on how likely they would pay back their debt. In other words, the greater a credit rating, the less expensive it is for a nation to borrow money in the global markets.

Therefore, theoretically, when a government wishes to secure money, a high credit rating would indicate a lower interest rate (and vice versa).

Globally, there are three key rating agencies – Moody’s, S&P and Fitch. S&P and Fitch have not yet issued a statement on the UK post-referendum.

Credit rating agencies also provide every nation a precise credit rating score. With regard to Moody’s and the UK, presently it scores the UK at “Aa1”.

In Moody’s rating scale, it is the second highest rating. It indicates “high grade”, under “AAA” which is “prime”.

By altering its position to “negative”, Moody’s has cautioned that the UK’s “Aa1” rating could be at risk of being reduced.

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Brexit Could Lead to A Global Recession


World crisis. Europe view.A verdict by the UK to leave the EU would mostly trigger a massive sell-off in the pound, a sharp reduction in household income and a global recession, according to several experts. Analysts believe that the decision by the UK would have far-reaching consequences.

It would also have an instant and dramatic effect on global markets, investment, prices and employment.

According to George Soros (business magnate, investor), “Too many believe that a vote to leave the EU will have no effect on their personal financial position. This is wishful thinking.”

If there is a crash in real estate prices and unemployment after Brexit, as is likely, it would not be possible for a monetary policy to stimulate the economy and counter the resulting loss of demand.

As per assessments by various authorities, including the Bank of England and the International Monetary Fund, the average income loss per household because of a decreasing British currency would be around £3,000 to £5,000 yearly ($4,400 to $7,335).

Experts who monitor currency fluctuations predict that a Brexit could result in a 15 to 20% drop in the currency.

In 1992, the British currency had dropped, but it assisted the nation in the long-term by reducing the interest rates and boosting economic growth.

However, a devaluation would not be good for the economy this time because of three main reasons:

  • The Bank of England cannot reduce rates from the existing low levels compatible with the strength of banks in the UK.
  • The UK has a huge current account deficit and most probably would not witness another cash inflow.
  • The loss of currency value would not assist exports because of uncertainty in trading environments that would be triggered due to the Brexit.

A Brexit would result in a Black Friday for the financial markets. There are huge amounts of short positions against the pound. They would moderate any currency decline post-Brexit.

At present, speculators would be waiting to exploit any opportunity. It would seriously impact the economic well-being of most people.

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Internet of Things


internet-of-thingsInternet of Things is a hot subject these days. Like every new concept, people are not too familiar with this subject. So, what exactly is Internet of Things? It refers to a virtual internet connection from people, objects, processes, and almost everything that we see around. It is a proposed expansion of the Internet in which daily things have network connectivity, making them send and receive data. It also defines a state where everything is made capable of communicating automatically with each other without any human-to-machine or inter-human interaction. It is an innovative discovery and is extremely beneficial in easing our lives in many ways.

There are many benefits of linking Internet of Things (IoT) into our lives, which can help people, industries, and society on a regular basis. For people, this new discovery can come in many forms such as finance, social, health, safety, and everyday planning. It can function as a tool that can help people save their money within their households. For example, if the home appliances start communicating, they can function in an energy efficient manner. Industries can also gain many benefits from the IoT. It can be useful in many various categories like inventory control, security, asset tracking, shipping and location, energy conservation, etc.

The incorporation of IoT into the healthcare sector could prove to be extremely useful for both people and society. For instance, a chip could be inserted into each individual, allowing for doctors to monitor the vital signs of the patient’s illness.

Another benefit it gives is the capability to monitor trades, clients and targeting them based on the data provided by the devices. In a way, it gives a more modified system that could potentially grow sales and increases demographic. Moreover, with the increased amount of machines connected to the Internet the smart grid increases, saving more energy. Machines can make choices and adapt without human interruption to reduce the energy usage.

These are just a few benefits of IoT. It is proved that it opens a varied range of opportunities to improve the quality of life in all aspects. It has many advantages to people, the environment, society, and businesses. But, it is important that we tap on the right spots to make this amazing discovery work the best for us.

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Wearable Technology in Healthcare Industry


insurance-and-wearable-techWearable technology is consisting of technology gadgets that can be worn by a person and mostly include tracking data related to health and fitness. One in five American’s now wears a wearable technology gadget. The emphasis of this technology is on for both the health care providers as well as the consumers.

Today, wearable technology has changed the face of the healthcare services sector. According to Dr. Vahid Sahiholnasab, a clinical instructor at the University of British Columbia – the use of wearable technology is good for people’s health as integrating new devices into health treatments can be easier than convincing people to exercise each day.

The most famous wearable gizmos in the market are smart watches and fitness bands. Other useful devices include, a pair of high-tech eyeglasses to save children from developing bad body posture while reading or playing with devices like tablets. This device sends a warning to children when they bent too much. This helps in preventing the children from neck and back pain. Not only children, around 45% of adults also admitted that wearable technology helped them lose weight by tracking their fitness level.

At present, these gadgets help increase people’s engagement and track physical fitness. But there is so much more potential that can be done using this technology. Wearable programs are being designed in such a way that they are even more benefited to insurers, companies and other healthcare stakeholders, rather than only to consumers.

The future of wearable technology is wide. The devices can be proved helpful in tracking health recovery of a patient. They can be sent home with wearable gizmos that track level of pain, heart rate, range of motion, and much. Using these devices along with patient’s medical reports will provide doctors with more information on what treatments need to be given for faster recovery.

However, there are many unmet expectations that come with this technology. Abandonment is one of them. Consumers after a certain period of time start using the gadget less or not at all. Another big problem for people is confidentiality, privacy issues and security breaches that come with wearable technology.

But, despite many issues, such as privacy, pricing and ease of use, the market for wearable devices is expected to grow at a fast rate. The future of this technology, especially in the healthcare sector looks promising.

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Business Videos Conquer the Internet



Words narrate the story. The pictures explain it. And video gives life to it. Video, a new online marketing strategy has brought a significant rise in driving relevant audience to a website and helps in generating customer interest in the campaigns. More and more businesses across the world are advertising online. However, the promotion was usually in the form of text and images. But today, businesses are finding that advertising through video platforms brings more profits and higher success. Video advertising is a better way to get your message spread than by just using a plain text or a basic image.

The main reason businesses are using video marketing to promote their brand to the customers, is its easy reach. It is estimated that almost 80% of social media users prefer to watch a video than look at an image or read a piece of writing. Moreover, showcasing your products/services through this channel makes it much easier for a customer to understand your nature of business. Especially, if your business requires a demonstration, video marketing is the only effective way.

Video marketing can benefit a business in a number of ways. It not only allows you to develop inbound links which increase your SEO ratings on search engines, it also helps you to increase brand recognition, generate more customers, takes advantage of new technologies and mobile devices, increase your online existence, build a niche channel, and most significantly, connect with a larger audience.

In addition, once opened, video embedded in social media networks make the user to click at almost twice the normal clicking rate. According to some web market analysts, people who watch videos online spend more time on browsing a website and are more likely to purchase a product or service.

In conclusion, video marketing is an important part of your online strategy. Also, the likes of Pinterest and Instagram now allow people to share pictures as well as videos. This is a step in the right direction and the future of this marketing strategy seems to be wider. It will help you reach exponentially more prospective customers as compared to any other means of marketing.

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What is Exposure in Photography?


In photography, “exposure” implies the measure of light that falls onto the sensor of your advanced camera. In current cameras, the presentation is typically set to programme as a matter of course and, more often than not, it can be left there and will deliver excellent pictures. There are times, however, when the camera disappoints us or we need to deliver a specific impact and it is pleasant to comprehend what is happening ‘in the engine’.


Getting a “right” introduction implies recording however much of the important data in the scene as could be expected. In the shot on the privilege, the essential data is the flying creature. The sky has gone totally white as it was much, much brighter than the flying creature. On the off chance that I had given the meter a chance to uncover for the sky, the winged creature would have been rendered as a dark outline.

Notwithstanding when the camera introduction is “right” the issue with all cameras is that they can’t record the whole scope of complexity (dark to white) that the eye can see. Particularly when you consider that the eye is always changing in accordance with adapt to high difference. On a sunny day on the off chance that you investigate the shadows of a scene then into the splendid ranges, the iris in your eye will rapidly modify so you can see detail in both.

Confronted with the undertaking of recording however much data as could reasonably be expected, the camera will attempt to normal out all the light levels and uncover in like manner. As wore out highlights are typically viewed as uglier than dark shadows, the camera, left to it’s own particular gadgets, will ordinarily fail on the dim side. Which is no great on the off chance that you are shooting against a splendid foundation. It’s the subject you need to see, and you don’t generally mind if the foundation is white.

Auto Exposure Modes

The camera makers have thought of a wide range of keen metering frameworks to attempt to help, there are presently multi-mode metering frameworks, which give you a decision of ‘focus weighting’, ‘spot metering’ or ‘multi spot metering’ on a large number of the better cameras, however none can ensure to give you what you need unfailingly.

Tip – utilizing auto exposure for your benefit.

In the event that you have a cutting-edge camera, the odds are that the default metering framework is ‘focus weighted normal’, which implies that, in spite of the fact that it takes a normal perusing of the entire scene, it takes more notice of what is amidst the edge. Which is uplifting news for us. The other uplifting news is that it requires this perusing at the investment when you take ‘first weight’ on the catch to take your photo.

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