Browse articles from all of our Newsletters related to Technology.
February 17, 2017 - IMFnews
Late last decade Altisource was spun-off from Ocwen, a once large servicer that in years past had been sanctioned by regulators for some of its servicing practices.
February 16, 2017 - IMFnews
Short Takes: What Does Bruce Berkowitz Think? / Freddie Exploring SFR Market / BB&T Building New Servicing Center / CoreLogic CEO on Medical Leave / loanDepot Executive Jumps Ship for Wisconsin Lender
While most banks are running away from the business of servicing home mortgages, BB&T appears to like the space...
February 10, 2017 - Inside Mortgage Trends
Industry technology vendor DocuSign has tapped into some of the technological capabilities of Google the G Suite collection of electronic tools, in particular as part of a strategic initiative to digitize the mortgage closing process and sharply reduce the time it takes to close on a loan. The broader idea for DocuSign and Google Suite plays into this as well as the things that were doing with our lead to close strategy is wanting to take away any of the friction from completing ...
February 10, 2017 - Inside Mortgage Trends
Staying on top of the multitude of documents involved in the process of originating a mortgage can help lenders avoid regulatory issues and increase returns, according to an analysis by Nationwide Title Clearing. The mortgage research and document-processing service provider detailed a number of issues with the so-called trailing-document process in a recent update to a white paper initially published in 2014. NTC said the white paper on document tracking and organization ...
February 10, 2017 - Inside MBS & ABS
The proposal by the Office of the Comptroller of the Currency to create a special-purpose national bank charter for financial technology companies, including marketplace lenders, stirred up significantly different views during a panel discussion sponsored this week by the Brookings Institute. The fact that this charter will be designed as one not to support innovation, but to support the biggest and most well-funded players, ends up being bad for consumers because it tilts the market against the true innovators, said Margaret Liu, senior vice president and deputy general counsel for the Conference of State Bank Supervisors. But, Richard Neiman, head of regulatory and government affairs for Lending Club and former New York state banking commissioner, said...
February 9, 2017 - Inside Mortgage Finance
Six weeks into the new year and it appears that merger-and-acquisition activity in the mortgage industry is finally picking up big time. Over the past 10 days, several mostly asset related deals have come to light, with the action being driven by private-equity money thats backing nonbank lenders. Wall Street giant The Blackstone Group, which has a PE division, is involved as well. So far, the only depository that appears to be playing in the M&A surge is...
February 8, 2017 - IMFnews
HUD officials said the agency has been focused on establishing an infrastructure to improve its cost estimating practices.
February 2, 2017 - IMFnews
Short Takes: A Bank in the Hunt for Mortgage M&A / PRMI Has Record Year / Citadel Passes the $1 Billion Mark / SFIG Starts Grassroots Effort / SoFi Buys Zenbanx / Why Didnt You Go With Me? Was it Something We Did?
The "Lost Sales Analysis" product licensed from its developer, Equifax helps originators determine if applicants closed a mortgage with a competitor.
January 30, 2017 - Inside the CFPB
The CFPB Office of Inspector General recently initiated an evaluation of the bureaus use of vendors to support its analysis of fair lending compliance, the OIG indicated in its latest work plan. The OIG begins by noting, among other responsibilities, the CFPB is charged with providing oversight and enforcement of federal laws intended to ensure the fair, equitable and nondiscriminatory access to credit. But what may surprise many in the industry is to learn that the agency relies on external vendors to help fulfill this responsibility. Our objective is to assess whether the CFPB effectively mitigates the risk associated with the use of vendors to support fair lending analysis, particularly with respect to potential conflicts of interest, said the OIG ...
January 30, 2017 - IMFnews
On the extreme end, 30 percent expressed dissatisfaction with their current LOS but did not say whether they were ready to toss it overboard
January 27, 2017 - Inside Mortgage Trends
A survey gauging lender satisfaction with their loan origination systems (LOS) has shown mixed, if not downright depressing, results, according to the Stratmor Group. Only 28 percent of the more than 250 lenders that responded to the 2016 survey reported they were very satisfied with their current LOS and have no plans to replace them. They were commenting on commercial off-the-shelf and proprietary loan origination systems, the scope of their functions and their track record of ...
January 27, 2017 - IMFnews
The mortgage division will employ loan advisors, providing them with incentives that reward service, not just sales...
January 17, 2017 - IMFnews
Some M&A advisors believe 2017 could be a banner year for mortgage company sales. Then again, thats what they predicted early last year...
January 17, 2017 - IMFnews
Wesley Winter, a senior modeler at Black Knight, said a traditional credit score may not be the best predictor of mortgage default.
January 13, 2017 - Inside Mortgage Trends
The New York Department of Financial Services made some concessions to industry participants by revising proposed cybersecurity standards. Some mortgage-industry officials were happy with the revisions while reiterating concerns about the proposed standards. The NYDFS first proposed cybersecurity standards in September. The proposal was the first of its kind from a state regulator and more prescriptive than guidance from the Federal Financial Institutions Examination ...
January 9, 2017 - IMFnews
AMC acquired Stewarts residential due diligence and servicing functions, including credit, compliance, origination and servicing quality control reviews.
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- Top Players 3Q16
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- Mortgage Profitability 3Q16
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- Short Takes: What Does Bruce Berkowitz Think? / Freddie Exploring SFR Market / BB&T Building New Servicing Center / CoreLogic CEO on Medical Leave / loanDepot Executive Jumps Ship for Wisconsin Lender
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