Today is Relaxation Day. For those of us in the mortgage industry, this day is coming at a good time. As summer winds down, business will too. The focus now turns to back to school and settling in.
Today is a good day to start thinking—leisurely of course—about what you’re going to do professionally as business begins to slow down for the season.
Is this your “spring cleaning” season—the time you spend organizing your files or maybe evaluating your business tools and look for ways to become more efficient? It could be.
As we head into the slower home-buying season, now is the best time to make sure you’re prepared for the next round of compliance mandates. The Ability-to-Repay/QM rule goes into effect on January 10th. You’re going to want to make sure your processes are in place to consistently produce Qualified Loans.
We gave Point clients the opportunity to test current files with the QM button in Point 9.0’s release on August 8. The QM button gives you a comprehensive findings report in seconds. Run it as many times as necessary to ensure compliance throughout the loan process.
So today, while you’re relaxing or surfing the web, visit our What’s New page to see a sample QM findings report. Not having to worry about QM in January will give you a whole new perspective on Relaxation Day! Enjoy!