On the heels of a recent HUD audit on flood insurance, regulators put lenders on notice. They found 31,500 federally backed loans in flood zones without flood insurance, exposing lenders to more than $4.5 billion in risk. This news is a wake-up call to lenders to take...
As a lender, you are under increasing scrutiny by regulators to comply with federal flood insurance requirements. To avoid the risk of non-compliant loans and financial penalties, you need to understand four main areas before closing a loan in a FEMA-designated flood...
HUD audit reveals $4.5 billion risk to lenders from flood insurance gaps In 2020, loan servicers were exposed to $4.5 billion in risk due to lack of proper flood insurance. This, according to a HUD’s Office of Inspector General’s (OIG’s) audit of FHA-insured...
The pandemic created the largest game of musical chairs the job market has ever seen. Millions left their jobs during this Great Resignation. Pandemic stress, lifestyle changes, and the availability of remote work empowered professionals to reconsider their employment...
Two years ago, the idea of working remotely was the stuff of employee fantasy and seemed to be reserved for West Coast startups and tech giant worker bees. When the COVID lockdown hit, companies scrambled to keep things moving with an off-site workforce. To the...
After a long and stressful 2020, workers are stressed out and burned out—and they want new opportunities. And they’re no longer willing to settle. Companies are struggling in a huge way to fill positions, and candidates are few and far between. Pandemic Burnout....
This is the last of three articles in Newbold’s Fifteenth Anniversary Series by the company’s founding partners. As you might have read in Dan’s blog, Newbold was started opportunistically and long-term sustainability wasn’t a big concern of ours because we were...
Pictured above: Newbold partners Terry Couto, Robert Simpson, Tim Gaven, Dan Reiman, and Michael Wade This is the second of three articles in Newbold’s Fifteenth Anniversary Series by the company’s founding partners. Newbold had two objectives from Day One:...
This is the first of three articles in Newbold’s Fifteenth Anniversary Series by the company’s founding partners pictured above (l to r) Tim Gaven, Terry Couto and Dan Reiman. “Calling your baby ugly,” in consulting terms, means telling you that something you...
Online banking apps and the 21st-centery technology that fuels them are now a part of our everyday lives. The pandemic has even pushed those financial services stalwarts who relied on brick-and-mortar banking to begin using their bank’s online and app-based...
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