Ellie Mae is migrating its infrastructure to Amazon’s cloud platform in order to refocus its man-power and capital on innovation in mortgage lending instead of database management.
With loan production waning and profit margins thinning, investment bankers and warehouse ex-ecutives far and wide have been expecting a tsunami of mortgage-related mergers and acquisitions to sweep the industry. If there’s a big wave, it’s still out at sea.
The Mortgage Bankers Association is asking regulators to postpone the implementation of a new accounting standard that requires upfront recognition of credit losses using long-term economic fore-casts but doesn’t allow upfront recognition of future revenues associated with a loan.
Appraisers, for obvious reasons, are against raising the appraisal threshold for residential real es-tate transactions, but several industry lenders have come out in favor of the proposal.
Protecting the FHA Mutual Mortgage Insurance Fund, affordable housing and information-technology modernization are among the Department of Housing and Urban Development’s top chal-lenges in 2019 and beyond, according to a report from HUD’s inspector general.
Former MBA Chief Dave Stevens on the higher conforming loan limits: “For an industry led mostly by conservatives, this dependence on a socialized financial system is really ironic.”
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