Some 62% of mortgage fraud incidents involve the misrepresentation of income and employment, while 33% involve the understating of borrower liabilities, a Fannie survey showed.

The big winner was the Finovation team, which floated the idea of creating an industry cooperative similar to the Mortgage Electronic Registration System.

Fannie said the LIBOR transition for 25 legacy CMOs resulted in one version of SOFR for the CMO itself and another version of SOFR for the related derivatives. This could result in payment mismatches.

New Chair Joel Motley replaces Jonathan Scott, who has retired after 19 years at the helm.

The Mortgage Bankers Association, in a comment letter, panned a Financial Stability Oversight Council proposal to revise guidelines for designating certain nonbanks as systemically important financial institutions.

ICE and Black Knight plan to sell Black Knight’s pricing platform in order to win approval from the FTC of a planned merger. Affiliates of Constellation Software have agreed to acquire Optimal Blue.

When using third-party models, banks should employ testing methods such as back-testing and benchmarking to meet compliance requirements, according to a RiskSpan analyst.

Originations, servicing and secondary market activity could all benefit from Blockchain, according to a new white paper from MISMO.

Servicers have found new success leveraging self-service technologies for borrowers looking for disaster relief and forbearance options.

Proposal for higher capital requirements on mortgages at larger banks expected next week; House passes defense spending bill without RON provision; Umpqua Bank selling one-third of its MSRs; MISMO publishes fee- naming guide; PrimeLending offering fast loan approvals; lender offers AI chatbot to potential borrowers.