Browse articles from all of our Newsletters related to Technology.

July 22, 2016 - Inside Mortgage Trends

Consumer-Direct Channel Has Benefits for Lenders

Lenders operating in the consumer-direct channel have a distinct opportunity to use technology to improve the mortgage experience for borrowers, according to findings from the Strategic Mortgage Finance Group. Garth Graham, a senior partner at the firm more commonly referred to as Stratmor, detailed the findings in a new publication from the mortgage-industry consulting firm. The Stratmor executive suggested that consumer-direct lenders should work with technology that ...

July 11, 2016 - IMFnews

Short Takes: PHH’s Loss is Fifth Third’s Gain / Changes Coming to the Ginnie Mae ‘Acknowledgement’ Agreement? / Bank Foreclosures Plunge / Mortgage Crime on the Jersey Shore / New Hire for Valuation Partners

Former New Jersey politician John Leadbeater worked out a plea arrangement with prosecutors.

July 8, 2016 - Inside Mortgage Trends

‘Frictionless’ Originations the Future, Oracle Says

The mortgage lenders that will thrive in the future will be those that lead the market’s charge toward “frictionless” originations, according to a recent white paper from Oracle Financial Services, a division of the global technology provider. The key for lenders is to re-invent their processes and adopt digital-based customer-centric originations in order to improve efficiency, reduce cost and enhance the borrower experience. “The correlation between process and profitability is ...

July 8, 2016 - Inside Mortgage Trends

Greater Compliance Efforts Producing Better Loans

More rigorous regulatory requirements and the resulting compliance efforts on the part of mortgage lenders might be increasing workloads and biting into profit levels, but they are also producing higher quality loans, which should pay off in lower losses and less litigation, according to one industry economist. “Better technology and standards in the loan application process combined with more time spent underwriting each loan application may be increasing the cost of ...

July 8, 2016 - Inside MBS & ABS

Verizon to Issue the First U.S. ABS Backed by Cell Phone Payment Plans, AAA Ratings Assigned to $1.17 Billion Deal

Verizon Wireless is preparing to package the payment plans on more than 3.09 million cell phones into an ABS, marking the first time an ABS in the U.S. will be backed by such collateral. The planned $1.17 billion Verizon Owner Trust 2016-1 received preliminary AAA ratings from Fitch Ratings and Standard & Poor’s. “It’s the most interesting type of consumer ABS product we’ve seen in a long time,” said Darrell Wheeler, head of research for global structured finance at S&P. “And obviously, with the amount of phones in the market today, it has a lot of potential.” Analysts at Moody’s Investors Service noted...

July 8, 2016 - IMFnews

FHFA Issues Update on Common MBS and Platform; Project Appears to be On Track but ‘Key Achievements’ May Change

The eventual goal of the project is to have the GSEs issue fully interchangeable securities.

July 7, 2016 - Inside Mortgage Finance

Lenders Seen as a Reliable Source for Homebuyer Leads for Real Estate Agents, though Practice is Somewhat Uncommon

Some lenders are generating extra revenue by providing a valuable service to real estate agents: providing leads on potential homebuyers. Real estate agents report mixed feelings about the services offered by Quicken Loans and others, according to a recent survey conducted by Campbell Surveys and sponsored by Inside Mortgage Finance. Interactions between lenders and real estate agents typically relate to homebuyer referrals by agents to lenders. However, some lenders also sell homebuyer leads to real estate agents. “There is...

June 30, 2016 - Inside Mortgage Finance

Borrower Seeks Class Certification in FCRA Suit Against Fannie Mae, Alleges Unfair Post-Bankruptcy Inquiry

A borrower recently filed a lawsuit seeking class-action status against Fannie Mae related to an inquiry made into his credit file after his bankruptcy process was completed. Some attorneys said the case hints at a new type of lawsuit on the horizon stemming from the Fair Credit Reporting Act. Grant Bailey alleges that the government-sponsored enterprise made unauthorized inquiries into his credit after bankruptcy released him from any debt he owed to Fannie. Bailey filed documents in federal court on June 15 stating that the inquiry without his consent was not permissible under the FCRA and did not serve any legitimate business need. These allegations represent...

June 28, 2016 - IMFnews

Correspondent Purchaser on the Hook for Fannie AU Fees Tied to One of Its Sellers

In the end, the court blamed NAMC, the firm buying the mortgages from GFS on a correspondent basis…

June 28, 2016 - IMFnews

Subservicing Keeps Growing as Regulatory Headaches Force MSR Owners to Cut Costs and Outsource

Subservicing firms now process roughly 16.3 percent of all home mortgages in the U.S., the highest reading since Inside Mortgage Finance began publishing these data two years ago.

June 27, 2016 - Inside the CFPB

Bureau Faults Mortgage Servicers For Using Failed Technology

A special edition of the CFPB’s supervision highlights report issued last week claims that some mortgage servicers continue to use failed technology that has already harmed consumers, putting such firms in violation of the agency’s servicing rules, which were released in 2013. “Mortgage servicers can’t hide behind their bad computer systems or outdated technology. There are no excuses for not following federal rules,” said CFPB Director Richard Cordray. “Mortgage servicers and their service providers must step up and make the investments necessary to do their jobs properly and legally.” The bureau acknowledged that some servicers have made significant improvements in the last several years, partly by enhancing and monitoring their service platforms, staff training, coding accuracy and auditing, and allowing ...

June 27, 2016 - IMFnews

Mortgage Companies to Increase Tech Spending

Velocify, a provider of sales automation software, found that lenders that invest in technology to meet changing borrower expectations are more likely to grow.

June 24, 2016 - Inside Mortgage Trends

Exchange Operator to Take Major Stake in MERS

Intercontinental Exchange will acquire a majority equity position in the owner of Mortgage Electronic Registration Systems and “modernize” MERS, according to the companies. Terms of the investment weren’t disclosed, though ICE said the price and terms of the transaction are “immaterial” to the company. The transaction is expected to be completed at the end of this month. MERS is owned by MERSCorp Holdings, a private corporation and member-based organization ...

June 24, 2016 - Inside Mortgage Trends

Mortgage Companies to Increase Tech Spending

A majority of mortgage companies plan to increase their spending on technology as part of their efforts to boost profit margins, according to the latest results from Fannie Mae’s quarterly survey of lenders. Some 56 percent of the 169 lenders surveyed by Fannie in the second quarter of 2016 listed technology investment as one of their top two strategies to increase profit margins, marking the first time a majority of respondents plan to increase tech spending to help profits since ...

June 23, 2016 - IMFnews

CFPB Singles Out Loan Servicers for Tech Failures. Are Fines Coming?

CFPB examiners found problems with loan modification acknowledgement notices, including sending them too late and having incorrect information or deceptive statements…

June 21, 2016 - IMFnews

Short Takes: CFO of Marketplace Firm Departs / The Coming Bloodbath in Marketplace Lending? / More Non-Delegated Options for Sellers / MiMutual Posts Nice Production Gain / He’s Back: GSE Wag Bill Maloni

Consultant Joe Garrett noted that if investors are worried about marketplace lenders in the current credit environment, just wait until the economy eventually goes south...

June 21, 2016 - IMFnews

PennyMac Adds Non-Delegated Option to Correspondent Program. The Cost: $495

PennyMac is hoping non-delegated deliveries become an attractive option for many of its customers…

June 21, 2016 - IMFnews

See You in September: Fannie Sets New Release Date for DU 10.0

What caused the delay of DU 10.0? “Issues,” said the GSE…

June 20, 2016 - IMFnews

Short Takes: Up and Down Mortgage Mt. Everest / Going Online with IO Ads / Overture’s Tech Update / DOJ Abandons Case Against Countrywide Founder Mozilo

Social Finance (SoFi) and Guaranteed Rate are among the lenders advertising their interest-only offerings online…

June 16, 2016 - Inside Mortgage Finance

Millennials, Mortgages and Mixers? Lenders Say Strong Need For Increased Borrower Education on Available Resources

Millennials are in the dark when it comes to knowing about mortgage resources, lenders said, and recent research shows that there are millions of millennials who could afford to buy a home today but don’t know it. “The problem isn’t always that they don’t qualify or have the credit scores, the big problem is they don’t know it,” said Rob Chrane, CEO of Down Payment Resource, speaking on a mortgage panel at the National Association of Real Estate Editors conference in New Orleans last week. “At the same time, we know from our database there are almost 2,500 different programs out there that represent billions of dollars in forms of downpayment assistance and other aid.” Paul Anastos, president of Mortgage Master, a subsidiary of loanDepot, said...

June 16, 2016 - Inside Mortgage Finance

Desktop Underwriter 10.0 Delayed, Fannie Mae Working to Correct ‘Issues’ Tied to New Program

Fannie Mae has postponed the anticipated release of Desktop Underwriter 10.0, an updated version that included using trended credit data. Something went wrong during the testing phase, prompting the government-sponsored enterprise to announce last week that the program will not be implemented during the weekend of June 25 as planned. Fannie apologized to its customers noting that it would be prudent to delay the release until the issues are addressed. Fannie isn’t...


The yield on the benchmark 10-year Treasury fell to all-time low of 1.34% recently. How much better will originations be at your shop in the second half compared to 1H, if at all?

Better by 1% to 10%.
Better by 11% to 25%.
Off the charts better. Applications are great now.
Worse than 1H, but not by much.
A lot worse. But not sure on the damage.

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