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Volume 2017 - Number 38

October 5, 2017

The Equifax Data Breach Affected 140 Million U.S. Consumers, Impact on Lenders May Be Ahead

Mortgage lenders havenít yet experienced any operating headaches from the Equifax data breach this summer Ė but the ramifications might come slowly and not be immediately discernable. One nonbank CEO told Inside Mortgage Finance that heís angry about the breach for two rea-sons: his personal information was stolen and it could cause business problems because warehouse banks, state licensing agencies, investors and housing authorities pull Equifax reports to check on him ...

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%