Browse articles from all of our Newsletters related to Technology.
September 16, 2014 - IMFnews
The Mortgage Bankers Association wants the FHFA to push Fannie and Freddie to go easy on mortgage buybacks.
September 15, 2014 - Inside the CFPB
Smaller financial institutions told the CFPB they see some positive possibilities for facilitating the banking needs of certain economically vulnerable segments of society through the use of mobile technologies. However, there are certain limitations with current capabilities, as well as unique security and fraud concerns. The increased availability and use of not only mobile phones but mobile devices across a wide spectrum of sizes, weights and portability, as well as the continuing expansion of the mobile banking functions and capabilities of those devices, offer opportunity to expand bank services to current banking customers as well as those who are termed unbanked or underbanked, the American Bankers Association said. While mobile banking offers potential for financial inclusion, it is not a ...
September 12, 2014 - IMFnews
One webinar panelist noted: "It reconfigures every disclosure that we had before."
September 5, 2014 - Inside Mortgage Trends
Late last month, the Consumer Financial Protection Bureau announced the participants in its high-profile eClosing pilot project. The bureau chose a mix of technology vendors providing eClosing solutions and lenders that have contracted to close loans using those solutions. The vendor participants are Accenture Mortgage Cadence, DocMagic, eLynx, Pavaso, and PiersonPatterson LLP. The lenders are Blanco National Bank, Boeing Employees Credit Union, Franklin First Financial, Flagstar Bank ...
August 29, 2014 - Inside FHA Lending
Revised HUD/VA Addendum to the Uniform Residential Loan Application. On July 30, the FHA has posted on its HUDCLIPS website a revised Addendum to the Uniform Residential Loan Application (Form HUD-92900-A/VA Form 26-1802). This form is used for both FHA and VA mortgage originations.The Department of Veterans Affairs has updated its form to clarify what constitutes a valid marriage for the purpose of obtaining VA benefits. Although the changes to the form do not apply to FHA-insured mortgages specifically, lenders should begin using the revised form for new FHA mortgage originations as soon as possible, the FHA recommended. Processing Request for Execution of VA Quitclaim Deeds. The Department of Veterans Affairs has issued guidance (Circular 26-14-19) for handling of requests for execution of quitclaim deeds. A quitclaim deed is a legal document that is used to transfer a persons rights to real estate to ...
August 27, 2014 - IMFnews
On Wednesday, shares of Altisource Asset Management Corp. were selling for $697 compared to a 52-week high of $1,209.
August 26, 2014 - IMFnews
Short Takes: Will the FHFA Extend the Comment Period for MI Firms? / Some Consumers Believe HARP is a Scam / Freddie (and Fannie) Got Taken by a Wolf / Bill Erbey (Indirectly) Owns a Much Larger Stake in Altisource
Indirectly, Bill Erbey controls about 5.9 million shares of Altisource through a limited liability company called Salt Pond Holdings.
August 22, 2014 - IMFnews
What Were Hearing: Banks to FDIC: Drop Dead / FHA and Ginnie Get a Chunk of the Massive BofA Settlement / Should DOJ Sue a Dead Subprime Executive? / LO Profession in Bifurcation Mode / The Pain Caused by Ocwen / DocMagic Gets CFPB Contract
A fair question to ask is this: If DOJ goes after Mozilo, why not go after the owners of Ameriquest/Argent which created so much of the faulty subprime product that Greenwich securitized?
August 20, 2014 - IMFnews
Im wondering how many people buy homes outside of buying them with cash, Ryan said during the webinar. To me its that serious.
August 15, 2014 - Inside FHA Lending
The False Claims Act (FCA) and the Financial Institutions Reform, Recovery and Enforcement Act (FIRREA) not only have become strong enforcement tools in the fight against FHA mortgage fraud but also an efficient means of recovering taxpayer losses. Having used both federal statutes effectively to wrangle huge settlements from large banks, federal prosecutors now have their eyes set on mid-level banks, according to compliance experts during a recent webinar hosted by Inside Mortgage Finance Publications. Because these FCA [and FIRREA] lawsuits have been a cash cow for the Department of Justice and the Inspector General of the Department of Housing and Urban Development, I think these agencies will target mid-level banks next, said ...
August 15, 2014 - Inside FHA Lending
FHA Commissioner Carol Galante has announced plans to step down from her current post, leaving behind a Mutual Mortgage Insurance Fund that appears well on its way to recovery and a slumping FHA business. Industry response to Galantes Aug. 12 announcement was mixed. Some stakeholders applauded her toughness and resolve in steering FHA through hard times, while others criticized her for policies that made it more difficult and costly for first-time homebuyers to obtain an FHA-insured mortgage loan. Galantes nearly three-and-a-half year stint as FHA commissioner was highlighted by her efforts to stabilize the FHAs ailing Mutual Mortgage Insurance Fund, reduce losses and improve lender oversight. She achieved these goals by creating a comprehensive risk-management structure at FHA, revamping FHA pricing and credit policies, and ...
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