The number of eNotes being added to the MERS eRegistry is sharply increasing, indicating a growing use of eClosings. Some 36,000 eNotes were added in the third quarter compared with 17,000 in all of 2018.
Fitch tested results from automated valuation models developed by five vendors. Clear Capital returned the most accurate results, according to the rating service.
Seller repurchases of Fannie/Freddie loans rose 17% from the first to the second quarter, with 82% of them related to loans securitized in 2018 and 2019.
Although residential originations remain strong, the loan brokerage sector has been steadily cutting jobs since the spring, according to the U.S. Bureau of Labor Statistics. Industry players question the numbers.
MISMO released final standards for remote online notarizations, aiming to help adoption of digital mortgages. Business is booming, according to a provider of remote online notarizations.
The Office of the Comptroller of the Currency reminded banks of a relatively new regulation that requires larger appraisal management companies to register with states before being able to provide services.
For the fiscal year ending Sept. 30, 2018, MBA took in $65.1 million of revenue versus expenses of $54.4 million, according to a newly released tax filing. Roughly half of its annual revenue comes from its hugely popular annual convention.
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