Browse articles from all of our Newsletters related to Technology.

May 5, 2015 - IMFnews

Short Takes: CFPB Holds a Candle for the 'Credit Invisible' / Walter Gets Smacked Around Too / New Fannie MF MBS / Correction on MDS

Fannie Mae reported Tuesday that the GSE issued $10.4 billion of multifamily MBS in the first quarter of 2015, primarily through its delegated underwriting and servicing program.

May 4, 2015 - Inside the CFPB

Briefs: All About the TRID/Upcoming This Month

FFIEC Issues Revised Interagency Examination Procedures for Compliance with the TRID. The Task Force on Consumer Compliance of the Federal Financial Institutions Examination Council recently put out new interagency examination procedures for the Truth in Lending Act (TILA), as implemented by Regulation Z, and the Real Estate Settlement Procedures Act (RESPA), as implemented by Regulation X. These procedures reflect CFPB amendments to Regulations Z and X published in the Federal Register in December 2013 and February 2015. Most of the changes to the procedures relate to the integrated mortgage disclosure requirements under TILA and RESPA, commonly referred to as the “TRID” requirements. Office of the Comptroller of the Currency Bulletin 2015-27 makes available on the OCC website the revised interagency ...

May 4, 2015 - IMFnews

Short Takes: Michigan Mutual Names New Retail Chief / Sterne Agee Dumps Altisource / However, ASPS Insiders Buy Shares / Ellie Mae’s Lofty PE Ratio / MGIC Gets New EVP of Risk

Late last month, Sterne Agee rated Altisource an “underperform,” which is a nice way of telling investors to sell the stock…

April 23, 2015 - IMFnews

Short Takes: Some Lenders Think Mortgage Counseling is a Waste of Time / Credit Suisse Readies New Jumbo Deal / Originations Rise Slightly at BB&T / More MSR Deals / DocMagic Rolls out TRID Service

The top contributor to the new Credit Suisse jumbo deal is New Penn, which is controlled by MBS co-inventor Lew Ranieri.

April 23, 2015 - IMFnews

Altisource Earnings Plunge 90 Percent, Cost Cutting Ensues, Including Layoffs

Most of Altisource's business is tied to Ocwen, which is in the process of ridding its servicing portfolio of agency loans.

April 23, 2015 - IMFnews

What’s an Appraisal Cost? Try $450 to $800, At Least

Many real estate agents report that appraisal costs have risen and AMCs’ overhead may be responsible...

April 21, 2015 - IMFnews

Hoping and Praying that the CFPB Goes ‘Soft’ on TRID

A period with protection against liability would allow the CFPB to evaluate any unforeseen issues stemming from TRID.

April 16, 2015 - IMFnews

Short Takes: So Much for the Moratorium on Captives Joining FHLBs / Nonprofits Stand Up for Ocwen / Ocwen Layoffs? / Time to Exit SFR? / CFPB Rule Update

Is the bloom off the rose in the single-family home rental market? Some institutional investors are shedding assets.

April 16, 2015 - IMFnews

Nonbank and Community Lenders Push for ‘Hold Harmless’ Enforcement on TRID

Certain factions of the industry want the CFPB to develop a plan to provide implementation support during a restrained enforcement period following the Aug. 1 effective date.

April 10, 2015 - Inside Mortgage Trends

Fannie Mae Touts Benefits of eWarehouse Lending

As a new day of mortgage disclosure practices nears, courtesy of the integrated disclosure rule from the Consumer Financial Protection Bureau, a strong supporter of eClosings and eMortgages – Fannie Mae – is extending the concept. The government-sponsored enterprise is working on eWarehouse lending in conjunction with eNotes. First, the borrower executes the eNote on a digital closing platform. “The closing system applies a tamper-evident seal to the eNote,” Fannie said ...

April 6, 2015 - Inside the CFPB

Briefs: Worth Noting/CFPB in Brief/Vendor Update

It’s Time to Scale Back Dodd-Frank, Industry Says. With a new Republican majority now in power and calling the shots on Capitol Hill, the industry consultants at The Collingwood Group recently asked mortgage industry officials what they thought the new Congress could do to bolster the housing market. Their answer? Rein in Dodd-Frank. “Although just fewer than 50 percent of respondents selected ‘repeal Dodd-Frank’ or ‘abolish the CFPB,’ the comments submitted clearly indicate that these industry insiders prefer a tempered approach with reasonable modifications to these two reactionary reform measures stemming from the crisis,” Collingwood said. “Many respondents stated that the Dodd-Frank Act should be revised to remove barriers to innovation and to reduce the cost of manufacturing a mortgage.” ...

April 6, 2015 - Inside the CFPB

CFPB Needs to Improve Its ‘Tableau’ System, OIG Concludes

The CFPB has done much to secure its “Tableau” system, but there are a few areas that need to be improved, according to an executive summary of a new report from the bureau’s Office of Inspector General. Tableau is a commercial, off-the-shelf tool deployed on the CFPB’s cloud computing – based general support system (GSS) that provides business intelligence capabilities, such as data analysis and integration, for multiple CFPB systems. “Overall, we found that the CFPB has taken a number of steps to secure the Tableau system in accordance with the Federal Information Security Management Act of 2002 (FISMA) and the agency’s information security policies and procedures,” the OIG said. For example, the OIG found that the CFPB has implemented risk ...

April 3, 2015 - Inside FHA/VA Lending

RHS Automates Underwriting for Guaranteed Rural Mortgage Loans

The U.S. Department of Agriculture’s Rural Housing Program has fully automated the submission of loan-origination documents and the electronic issuance of conditional commitments. This means that RHS’s Guaranteed Underwriting System (GUS), which is used for underwriting single-family rural home loans, has gone paperless, beginning March 28, 2015. Over the past year, USDA Rural Development has implemented changes to streamline and modernize the guaranteed loan program. In December last year, the RHS modified its lender loan-closing system to allow electronic issuance of loan note guarantees. Under the streamlined document-submission process for GUS requests, lenders will upload all required origination documents into GUS following a final submission. This enables lenders to avoid encrypting and emailing docs to USDA. After receiving the docs, GUS will alert the ...

April 3, 2015 - Inside FHA/VA Lending

FHA Deploys Long-Anticipated E-Delivery System for Appraisals

Beginning June 27, the FHA will require electronic appraisals for single-family forward and reverse mortgages to be delivered through an online electronic submission portal prior to endorsement. The Electronic Appraisal Delivery (EAD) portal is a web-based platform that would allow paperless submissions of single-family home loan appraisals, cutting down loan processing time significantly. FHA lenders and their authorized representatives can access the EAD portal by using electronic credentials and showing they are ready to use the new technology. Only appraisals that are compliant with FHA appraisal and data delivery guidelines can be uploaded to the portal. Lenders will be notified of a successful upload or if they need to correct and resubmit an appraisal. Once an appraisal is successfully submitted to the portal, FHA Connection will pull EAD appraisal data and pre-fill certain data fields in the ...

March 27, 2015 - Inside Mortgage Trends

E-mortgage One Step Closer with NotaryCam

A company called NotaryCam is raising eyebrows – and hopes for the future of e-mortgages – with the deployment of what it claims is the world’s only notary service that securely and legally notarizes documents online within minutes via live web conference from anywhere in the world. Requiring just a standard webcam, NotaryCam, based in Alexandria, VA, can produce a digital version of notarized documents within minutes. And with browser-to-browser ...

March 26, 2015 - Inside Mortgage Finance

Call-Center Lending Getting Begrudging Acceptance by Some Real Estate Agents

Real estate agents prefer to work with lenders that have a local presence, but call-center operations have improved their reputations among agents, according to new research by Campbell Surveys, based on a national survey sponsored by Inside Mortgage Finance Publications. “Survey results show that Quicken Loans’ call-center model can be an accepted alternative to the local branch/local loan officer model, at least for some homebuyers and real estate agents ...


The Supreme Court recently decided that mortgage loan officers are entitled to overtime pay. How has this affected your shop?

It's a very big deal, but our company will limit OT pay or pay very little.


It’s sort of a big deal, but we have no plans to pay overtime pay at all.


We have no problem paying our LOs OT.


We’re still studying the case and have not yet decided what to do.


Housing Pulse