During a recent password audit, it was found that a blonde was using the following password: MickeyMinniePlutoHueyLouieDeweyDonaldGoofy. When asked why such a big password, she said that it had to be at least eight characters long.
The use of passwords and computers has certainly become an integral part of the mortgage business, and the flow of information. Lenders are especially following the 1/1 RESPA changes which include the Good Faith Estimate, the HUD-1 and the HUD 1-A. Many Ops employees are going directly to HUD for information and you don’t even need to create a new password:
RESPA Rule” http://www.hud.gov/offices/hsg/ramh/res/finalrule.pdf
RESPA FAQs: http://www.hud.gov/offices/hsg/ramh/res/resparulefaqs.pdf
Sample GFE: http://www.hud.gov/offices/hsg/ramh/res/gfestimate.pdf
Sample HUD-1: http://www.hud.gov/offices/hsg/ramh/res/hud1.pdf
Lend America, after being fined by HUD and asked to stop doing government loans, closed their doors yesterday. One look at their website says it all: http://www.lendamerica.com/ The FHA accused them of submitting false documents and making loans that did not meet requirements, among other things. Kids, don’t try this at home!