Technology

Browse articles from all of our Newsletters related to Technology.

November 29, 2016 - IMFnews

Short Takes: Trump Names HUD 'Landing Team' / Another Day and No Word from Doc Carson on the HUD Job / Trump ‘Landing Team’ Hits the Beach at the CFPB / Gather Intel and Advise / Resume Polishing Since Election Night? / Freddie Publishes eMortgage Vendor List

Moreover, anyone close to Richard Cordray has likely been working on their resume since Tuesday night, Nov. 8…


November 23, 2016 - Inside Mortgage Trends

Big Data Can Boost LO Productivity

Mortgage lenders are beginning to harness the power of big data to improve the increasingly expensive and often inefficient loan origination process, according to experts speaking on a panel at the recent Mortgage Bankers Association annual convention. Loan officer productivity has declined overall and varies greatly, according to Garth Graham, senior partner at the Stratmor Group. The top 40 percent of LOs generate 78 percent of mortgage originations, according to ...


November 23, 2016 - Inside Mortgage Trends

FICO Official Disputes Rival’s Mortgage Claims

A recent white paper from VantageScore Solutions claiming that millions of potential mortgage borrowers have been restricted from receiving loans due to “conventional” credit scoring models has prompted a strong response from officials at Fair Isaac. Joanne Gaskin, a senior director in Fair Isaac’s scores and analytics group, published a “truth squad” post on a FICO-related website addressing VantageScore’s claims. “Scoring sparse and old data may give more ...


November 23, 2016 - Inside Mortgage Trends

Infrastructure Key to Retaining Productive LOs

When deciding which lender to work for, high-performing loan originators put an emphasis on companies that have the infrastructure to help originate mortgages, according to a survey of LOs by Floify. The company, which provides a communication portal for lenders, borrowers and others involved in the origination process, recently surveyed LOs on recruitment and retention issues. The findings focused on LOs with at least $21.0 million in annual origination volume ...


November 21, 2016 - IMFnews

Ellie Mae Dominant Among Providers of Loan Origination Systems

There were 159,523 active users of Ellie Mae's Encompass loan origination system in the third quarter, up 18.0 percent from a year ago.


November 17, 2016 - Inside Mortgage Finance

Current Appraisal Regulations Outdated, Industry Needs Standardization, Modernization

Returning appraisal regulations back to the individual states would be counterproductive, according to James Park, executive director of the Appraisal Subcommittee of the Federal Financial Institutions Examination Council. Park and other experts spoke about the need for standardization and modernization at a hearing in the House Financial Services Committee this week. “Replacing the federal system with a state-based system would confuse, not streamline,” he said, noting that the “cornucopia” of statutes and guidelines are confusing and burdensome for everyone. Bill Garber, director of government and external relations at the Appraisal Institute, agreed...


November 16, 2016 - IMFnews

Mortgage Tech Vendors Fear TRID 2.0 Will Bring a Whole New Basket of Trouble

In addition, each programming change would need to be tested…


November 15, 2016 - IMFnews

Mortgage Loan Officers Need to Adopt to Social Media

Americans spend an average of 6 hours per day on social and mobile media, which has taken over television viewing.


November 14, 2016 - Inside the CFPB

TRID 2.0 Poses Software Implementation Challenges

Implementing the changes that the CFPB is proposing to its TRID rule will involve the deployment of a considerable amount of resources, time and energy, software vendors told the bureau recently. In a comment letter sent to the bureau, DocMagic said that many of the agency’s proposed changes would require a substantial amount of reprogramming by not only technology vendors but also by creditors, investors and settlement agents. “In addition, each programming change would need to be tested to ensure the software integrations among the thousands of companies in the industry work properly,” the company said. DocMagic also pointed out that it operates SmartCLOSE, which is a collaborative closing portal that allows creditors and settlement agents to collaborate to complete ...


November 11, 2016 - Inside Mortgage Trends

Tech Opportunities and Regulatory Challenges

Balancing technological advances in the mortgage space with safety and soundness can be challenging, but it should be considered a priority, according to industry experts on a recent panel in Washington, DC, sponsored by the Urban Institute and CoreLogic. Quicken Loans launched its Rocket Mortgage early this year at a time when an avalanche of new regulations had the industry back on its heels. “While many in the industry were playing a lot of defense, and rightfully so ...


November 11, 2016 - Inside Mortgage Trends

Loan Officers Need to Adopt Social Media

Social media and mobile-digital communications have already reshaped a number of industries, and mortgage banking isn’t going to be any different, according to a leading guru in the field. Many of today’s loan officers are going to become obsolete unless they adapt to rapidly shifting consumer expectations, said Clara Shih, CEO and founder of Hearsay Social, during a session at the recent annual convention of the Mortgage Bankers Association. Although there are some ...


November 4, 2016 - IMFnews

GSEs Concede Industry’s Point on UCD Reporting Burden, Postpone Requirement for One Year

Fannie and Freddie are encouraging lenders to include seller information in their UCD files if available...


November 2, 2016 - IMFnews

Tech Vendors Tell CFPB: We Need At Least a Year to Implement TRID Amendments

TRID rule changes mean mortgage technology vendors will need to retro-fit software into multiple versions, which further stretches the resources…


November 1, 2016 - IMFnews

Appraisal Trade Group to FHFA: Freddie Mac is Making a Big Mistake on Appraisals

In an interview with IMFnews, Freddie CEO Don Layton defended the GSE’s move toward automated appraisals…


November 1, 2016 - IMFnews

Short Takes: Freddie’s Multifamily Segment Had Better Income than SF / Shrinkage not Exit / Analysts Turn Negative on Altisource / Some Good News for the Vendor / Boomers Have Home Equity, but…

The research firm also cites what it calls a “lack of transparency regarding fundamental business and accounting drivers”…


October 28, 2016 - Inside Mortgage Trends

TRID 2.0 Software Implementation a Concern

Some leading mortgage technology vendors told the Consumer Financial Protection Bureau they are concerned about the resources that will be required to implement the changes the bureau wants to make to its integrated disclosure rule known as TRID. In a comment letter to the CFPB regarding its proposed rule to clarify a number of aspects of the TRID regulation, the Mortgage Vendor Regulatory Work Group raised concerns about software implementation resources, including ...


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In 2016, what have you been paying your retail residential loan officers, on average, as a commission?

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51 to 75 bps
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