Browse articles from all of our Newsletters related to Technology.
October 17, 2014 - Inside Mortgage Trends
The Consumer Financial Protection Bureau is poised to formally launch its e-closing pilot project shortly, with an eye towards simplifying the mortgage closing process for both borrowers and lenders and eliminating many of the pain points associated with it. We are looking to kick off the pilot later this year and run it for about three months, said Brian Webster, program manager for the bureaus Office of Mortgage Markets, during a meeting of the CFPBs Community Bank Advisory Council ...
October 17, 2014 - Inside The GSEs
After a year of searching for a chief executive to lead Common Securitization Solutions, the Federal Housing Finance Agency is still looking, but it continues to hire staff. The search continues, said a government official close to the matter. We even have a search firm.Although the FHFA is keeping a tight lid on information regarding CSS, its now common knowledge that the search firm in question is the Washington-based Spencer Stuart, which bills itself as one of the worlds leading global executive search and leadership consulting firms.
October 16, 2014 - IMFnews
Short Takes: Short Sellers Target Walter / But Walter Gets a Disclosure Exemption / Will QRM be Aligned with QM? Well Know Next Week / NTC Finds Flaws in Servicing Records / DocMagic Makes an Acquisition
More trouble for Walter Investment Management? Meanwhile, according to NTC, as many as 490,000 homeowners could be affected by faulty servicer database records.
October 10, 2014 - Inside FHA Lending
FHA to Extend Short Refi Program. The FHA has announced its intent to extend its Short Refinance Program for borrowers in negative equity positions. A mortgagee letter will be issued soon to announce the extension. Feedback Period extended for Draft Servicing Section of Proposed Single Family Handbook. The FHA is extending the comment period for the draft servicing section of the Single Family Housing Policy Handbook through Nov. 14, 2014 to allow stakeholders additional time to study and comment on the proposed section. The original deadline date was Oct. 17. CFPB Updates Reverse Mortgage Guide. The Consumer Financial Protection Bureau recently updated its reverse mortgage guide on its website to account for recent changes made by the Department of Housing and Urban Development to its Home Equity Conversion Mortgage program. The updated guide highlights new limits to ...
October 8, 2014 - IMFnews
Ethos Lending, a QM and non-QM lender, is marketing itself to third-party loan officers as the broker advocate."
October 3, 2014 - Inside The GSEs
The Federal Housing Finance Agency can and should improve its oversight of Freddie Mac information technology investments, concluded a new audit by the agencys official watchdog. Last weeks Inspector General audit noted that Freddie is making substantial investments in IT in order to better support its operations and reduce risk. The GSEs planned IT expenditures over three years are expected to exceed $1 billion, the IG added.
September 26, 2014 - Inside FHA Lending
Ginnie Mae securitized a relatively higher volume of loans for African-American borrowers than did Fannie Mae or Freddie Mac, according to a new Inside FHA Lending analysis of recently released Home Mortgage Disclosure Act data covering 2013 mortgage originations. Nearly a quarter, 24.7 percent, of mortgages made to black borrowers last year had FHA, VA or rural housing loans financed through Ginnie Mae, loan-level HMDA data show. Fannie Mae (19.2 percent) and Freddie Mac (9.9 percent) also accounted for large shares of mortgages for black borrowers. However, blacks accounted for just 4.2 percent of mortgages with the race of the primary borrower identified in HMDA reports. Fannie actually had a bigger share of the Hispanic market (24.7 percent), but Ginnie accounted for a substantial 17.3 percent of mortgages made to Hispanic borrowers last year. All three agencies saw ... [1 chart]
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."
- FRESH OFF THE PRESSES! GSE Seller Profile: 3Q14
- Mortgage Profitabiilty 2Q14
- Top Players 2Q14
- GSE Private Mortgage Insurance Profile 2Q14
- Agency Condo Market: 2013
Over the next six months we plan to hire this many more additional loan officers:
- 1 to 10 (We're being careful.)
- 11 to 30 (We're optimistic.)
- More than 30 (We're in a growth mode as the banks get out.)
- We're cutting back. (Are you nuts? It's ugly out there.)
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- CFPB Throws the Industry a Few Bones on theTRID Rule
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