Browse articles from all of our Newsletters related to Technology.

June 2, 2015 - IMFnews

Blackstone’s ‘New’ Mortgage Company Can’t Take Apps Over the Web Until…the NYDFS Says So

In partnership with former Lehman Brothers Managing Director Brian Libman, Blackstone is trying to carry out a “roll-up” strategy...

June 1, 2015 - IMFnews

Short Takes: Two Harbors Readies a Jumbo MBS / Available: A Large Pool of Subprime Loans? / LenderLive Buys Walz / A Done Deal: The Merger of Two FHLBs / A New Hire for ZAIS

We understand that a large pool of nonprime mortgage loans is looking for a home...

May 29, 2015 - Inside FHA/VA Lending

Court Denies Relator Standing in Whistleblower Suit Against Bank

Whistleblowers that bring a False Claim Act claim against an FHA lender based on previous publicly disclosed information have no standing, according to a recent federal district court ruling. Judge Jack Zouhary of the U.S. District Court for the Northern District of Ohio dismissed an FCA lawsuit against U.S. Bank because the whistleblower had neither direct nor independent knowledge of the bank’s alleged false claims – two basic requirements for standing in a whistleblower suit. The Advocates for Basic Legal Equality (ABLE), an Ohio-based legal aid group, filed an FCA lawsuit against U.S. Bank for allegedly disregarding and violating FHA regulations. The group accused the bank of filing false claims and collecting payments without evaluating loss mitigation alternatives before foreclosing on properties. According to ABLE, it had consulted with “many people,” whose mortgage loans were ...

May 28, 2015 - IMFnews

Short Takes: Wells Fargo Now #2 in Iowa / Why We Really Need the CSP / What Does Fannie Mae Charge? / First Niagara Under HUD’s Microscope

The former analyst said Freddie has “an inferior security [MBS] necessitating the need for a lot of time and expense to create a common securitization platform…”

May 28, 2015 - IMFnews

Doesn’t Sound Like Fannie Mae Will Offer its Automated Underwriting System for Free

It stands to reason that by waiving the charge that Freddie might take in less revenue, but a GSE spokesman said as a financial matter, “it’s not material.”

May 27, 2015 - IMFnews

Black Knight Nets Nearly $480 Million on IPO, Plans to Expand in Mortgage Services

Black Knight plans to expand its offerings to existing clients, gain new clients, introduce new products and selectively acquire smaller vendors...

May 26, 2015 - IMFnews

Short Takes: The MSR Deals Keep Coming / New Home Sales Strong / USRES Signs Up Nonprime Lender / Overvalued Housing in Texas / Altisource’s Latest Hire

One new portfolio that came out for bid recently entails the transfer of $328 million of Fannie Mae receivables in Massachusetts.

May 22, 2015 - Inside Mortgage Trends

Industry Disconnect Emerges on TRID Readiness

A dramatic disconnect has surfaced between different segments of the mortgage industry when it comes to being prepared to comply with the Consumer Financial Protection Bureau’s pending integrated-disclosure rule. Professionals in the land title insurance side of the business are far more confident about their readiness than are depository institutions, recent surveys reveal. A survey conducted in April by the American Land Title Association found that 92 percent of respondents indicated their company will be prepared to implement the new loan estimate and closing disclosures and to comply with the CFPB’s regulation. That number isn’t as good as it seems, though. A much smaller 62.6 percent said they are on schedule for implementation. Another 29.4 percent conceded they are behind ...

May 22, 2015 - Inside Mortgage Trends

Realtors, Appraisers See Potential in Drones

The real estate industry is excited about the potential use of unmanned aerial vehicles (UAVs) or drones in marketing residential and commercial properties. But stakeholders might have to wait a bit more until federal regulations for drone usage are clear and precise. Industry participants across the country are eager to use drones for aerial photography, videography, property inspection and appraisal and for other mortgage-related opportunities UAV technology might bring. Sometime in the not-so-distant future, Realtors will be able to legally fly unmanned drones over listed properties to give prospective buyers a total view of each listed property and its surroundings. For appraisers and catastrophic insurers, drones can reduce the time it takes to provide an appraisal for a residential or ...

May 19, 2015 - IMFnews

Short Takes: Nationstar to Launch Xome / Fortress Controls 66 Percent of NSM / Hedge Funds Invest in Private Money Lenders / FGMC Posts Nice Origination Gain / Foreclosure Law Firm Goes Bust

First Guaranty Mortgage Corp., Frederick, MD, originated $940 million of home mortgages in the first quarter, a 48 percent jump from the same period a year earlier.

May 18, 2015 - IMFnews

Short Takes: How High Can Ellie Mae’s Stock Go? / And the Flipping Continues / Lending to Flippers, a Profitable Business / GOP Says No to HUD Again / A Virginia M&A Deal

Several hard money lenders are involved in financing flippers, charging interest rates that are several percentage points above the going Fannie Mae/Freddie Mac rate.

May 15, 2015 - IMFnews

What We’re Hearing: What’s Next for Nationstar, Walter, Ocwen? / A Broken High-Touch Model? / Oh No: Ocwen Takes the Corporate Jet Away! / Texas Bank Warehouses Impac / FHFA Does Not Want the FHLBs to be an Issuer Through the CSP / More TRID Anxiety

More trouble for Ocwen: the corporate jet has been yanked!

May 12, 2015 - IMFnews

Short Takes: Former FHA Chief Stands With Quicken / No FCA for Stevens / Cherry Hill Posts Small Loss / Nomura Loses / Biweekly Provider in CFPB Crosshairs / Milestone for DocMagic

Stevens also said that while he was FHA commissioner he chose not to go after lenders for violating the False Claims Act because he said such actions would have opened a “Pandora’s Box.”

May 11, 2015 - IMFnews

Short Takes: Fidelity Set to ‘Spin Off’ Black Knight via an IPO / A Flow Chart is Required / Lots of Spin-Offs / Remember HomeSide Lending? / Shrinking Loss Reserves at the GSEs /’s New Hire

Fidelity, a market leader in title insurance, has a market capitalization rate of $10.6 billion and is headed by William Foley, age 70, who has a history of spinning off companies.

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.


Mortgage originators have been stepping up their hiring of late. Which category of mortgage workers are in highest demand at your shop? (Choose one.)

Loan officers
Processors and underwriters
Tech support/programming
Secondary marketing
VP level and higher
We need a good CEO

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