Technology

Browse articles from all of our Newsletters related to Technology.

February 17, 2017 - IMFnews

CFPB Weighing Enforcement Action Against Altisource Over Services Provided to Ocwen

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

DocuSign Taps G Suite in Broader Digitization Push

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 we’re doing with our ‘lead to close’ strategy – is wanting to take away any of the friction from completing ...


February 10, 2017 - Inside Mortgage Trends

Benefits for Lenders With Organized Documents

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

Fintech Panel Navigates the Pros and Cons Of OCC Charter, Marketplace Lending

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

The Mortgage M&A Game Is On. In the Hunt: Blackstone, Caliber, Flagstar, RPM and Others

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 that’s 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

GAO Slams HUD for Weaknesses in Cost Estimates Related to FHA Modernization

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 Didn’t 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

OIG Audits CFPB Use of Vendors to Analyze Fair Lending Compliance

The CFPB Office of Inspector General recently initiated an evaluation of the bureau’s 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

Fewer Originators Satisfied with their LOS Systems

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

Survey: Fewer Lenders Satisfied with Their LOS

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

Realty Firm Redfin Enters the Mortgage Space with a ‘Digital’ Product

The mortgage division will employ loan advisors, providing them with incentives that reward service, not just sales...


January 17, 2017 - IMFnews

Short Takes: PE Firm Eyes Three Mortgage Acquisitions / One Lender That’s Definitely Looking… / LOS Vendor Hires New President / Another Court Victory for PHH

Some M&A advisors believe 2017 could be a banner year for mortgage company sales. Then again, that’s what they predicted early last year...


January 17, 2017 - IMFnews

Black Knight Developing Mortgage 'Specific' Credit Score

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

NYDFS Gives Ground on Cybersecurity Proposal

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 Acquires Origination and Servicing QC Services from Stewart

AMC acquired Stewart’s residential due diligence and servicing functions, including credit, compliance, origination and servicing quality control reviews.


Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

vote to see results