Browse articles from all of our Newsletters related to Technology.

August 28, 2015 - Inside Mortgage Trends

Report: Mortgage Finance Ripe for Disruption

The Collingwood Group says disruption may come to the mortgage finance industry because the current business model is too challenging, inefficient, costly and unresponsive to customer and business needs. “With no fundamental changes to origination processes in decades, lost efficiency, growing regulatory hurdles, high costs and low profits, there is little doubt the mortgage industry is ripe for disruption,” the firm said in a recent paper. Marketplace lenders and crowdfunders ...

August 21, 2015 - Inside FHA/VA Lending

HUD Publishes Latest Updates to FHA Single Family Policy Handbook

The FHA will not issue a new case number for any FHA-to-FHA refinance if the current mortgage has a repair or rehabilitation escrow account in FHA Connection. The change, which is one of several updates to FHA Single Family Policy Handbook 4000.1, applies only to FHA streamline refis. It aims to ensure that escrow funds of the mortgage being refinanced are properly applied as well as conform to system requirements. The updated sections become effective on Sept. 14, 2015. Another change clarifies that the payoff statement for the mortgage being refinanced is the only document required when calculating the maximum mortgage amount for simple refi transactions. In addition, guidance for loan-to-value limits for cash-out refis has been updated to clarify that the 85 percent LTV restriction applies only to cash-out refis. HUD also noted that appraisers have flexibility in regards to when inspections should ...

August 14, 2015 - Inside Mortgage Trends

Study: Mortgage Finance Ripe for Disruption

A new research paper analyzing the risks and opportunities for disruption in the housing finance system notes that new business models and services make the entire mortgage industry ripe for change. Although the paper by the Collingwood Group notes that disruption is inevitable in any industry, it said it is most predictable in an industry faced with conditions where the current model is too challenging, inefficient, costly and unresponsive to customer and business needs. “With no fundamental changes to origination processes in decades, lost efficiency, growing regulatory hurdles, high costs and low profits, there is...

August 14, 2015 - Inside Mortgage Trends

eClosing Pilot Reveals Limits of Tech, Speed Bumps

Emerging eClosing technology may make borrowers a little smarter, according to the Consumer Financial Protection Bureau, but it isn’t easy for lenders to implement. A CFPB report on the agency’s eClosing project found that borrowers who participated in the pilot scored slightly higher in a quiz on the closing process than did those who relied on good-old paper. The eClosers were...

August 13, 2015 - IMFnews

Short Takes: Neighborhood Watch Program Goes Down Without Explanation / Compass Point Repeats ‘Sell’ Rating on Walter / DeMarco Stresses Data Standardization / Houlihan Lokey Prepares IPO / Wolters Gets Ready for HMDA Changes / Carrington Hires PennyMac Executive

HUD's Neighborhood Watch system is down, but this cabinet level agency has no explanations for the press or public

August 10, 2015 - Inside the CFPB

eClosings Result in More Informed Borrowers, CFPB Pilot Project Finds

Borrower participants in the CFPB’s eClosing pilot project scored noticeably higher on three key metrics – efficiency, empowerment and understanding – the bureau announced during a public forum on the project last week. The CFPB surveyed consumers about their perceptions of how efficient the overall process was. This included their perceptions about delays, errors in the documents, and the time between important steps. The study found a 17 percent positive difference in scores for borrowers using eClosings compared to borrowers using paper documents. The CFPB also asked consumers how empowered they felt after the process. The survey asked consumers to respond to statements such as, “I felt I had control over the closing process” or “I felt empowered to play an active ...

August 6, 2015 - Inside Mortgage Finance

CFPB eClosing Pilot Reveals Need for Greater Coordination Among Closing Process Participants

Among the findings of the eClosing pilot project run by the Consumer Financial Protection Bureau is the need for greater coordination and cooperation between lenders, technology vendors and settlement agents, pilot participants revealed this week. Speaking at a CFPB forum to announce the results of the bureau’s recently concluded eClosing initiative, Jim Connell, chief information officer for Sierra Pacific Mortgage, said one of the biggest lessons his company learned was the importance of coordinating with the settlement agents. “We had already passed...

August 5, 2015 - IMFnews

Short Takes: JPM Goes Down the Credit Spectrum on Jumbos / PHH Wins One Against ‘The Man’ / No Comment From the CFPB / A Big Chunk of Change / Ellie Mae Hires Security Chief

One analyst familiar with the case noted that $109.2 million “is a big chunk” for PHH, adding that the case shows “the CFPB is crazy and doesn’t want to be questioned or challenged…”

July 31, 2015 - Inside Mortgage Trends

User Authentication Critical to E-Signature Success

With the Consumer Financial Protection Bureau bringing its considerable weight to bear on e-mortgages as part of a broader push to reinvent the origination process, mortgage lenders and the technology vendors and consultants that serve them have been paying more attention to reconstituting existing processes to support a more digital format. E-signatures play a key role, and perhaps the single most critical component of e-signature technology is user authentication ...

July 31, 2015 - Inside Mortgage Trends

The Millennial Secret: Look Like Them, Hire Them

The conversation about the “millennial” generation and its effect on the housing and mortgage markets just isn’t going away. Although some mortgage professionals confess to being sick and tired of hearing about the millennials, they can’t argue that, at 82 million strong, those born between 1980 and 1999 are a home-buying force to be reckoned with. But selling loans to them isn’t always so easy. “These new arrivals to the home-buying scene want to text and email ...

July 27, 2015 - Inside the CFPB

Briefs: Worth Noting, Vendor/TRID Update, Looking Ahead

Deputy Director Antonakes to Depart. CFPB Deputy Director Stephen Antonakes, the number two figure at the bureau, is leaving the agency at the end of July to spend more time with his family, according to an internal memo circulated within the CFPB, a copy of which was obtained by Inside the CFPB. “Steve has been an enormous asset to the bureau, and a great friend and colleague to me since our time together in [Supervision, Enforcement and Fair Lending] in the early days of the bureau,” said the memo, which was authored by Director Richard Cordray. “His contributions to this agency have been extensive in his dual roles as deputy director and supervision, enforcement, and fair lending associate director, and ...


During the first half of 2015 all residential lenders originated a better-than-expected $805 billion of home mortgages, according to Inside Mortgage Finance. What do you expect in the second half?

Just as good. We like what we’re seeing.
Better. Applications are strong.
Worse. We’re worried about rates, seasonality.
A lot worse. The fourth quarter could be a killer.

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