Wells Fargo is working on an online mortgage application process that’s even more advanced than Quicken Loans’ Rocket Mortgage, according to officials at the bank. “I would describe what we’re doing as kind of the next generation, because it’s not just about giving a fast answer,” Timothy Sloan, president and CEO of Wells Fargo, said last week during the bank’s earnings call. He was asked to compare the application Wells is developing with Rocket Mortgage, which allows for a ...

Quicken Loans is a step closer to completing a process that would take it away from aging legacy systems into the world of digital mortgages. The Detroit-based lender has announced a partnership with eOriginal, Inc. that would enable it to complete the final steps towards digitally creating an electronic mortgage note. The process would also allow Quicken to store the e-note securely as an “authoritative copy” and transmit it to a custodian and the secondary market almost instantaneously ...

However, officials at Freddie said the claims regarding the GSE and Equifax lacked context.

Ocwen settled with Texas regulators as well...

PMP was founded by former Comptroller of the Currency Eugene Ludwig and mortgage industry veteran Bruce Witherell…

With fall-out spreading from the turmoil at Social Finance, investors might be thinking twice about so-called “fintech” firms...

A Freddie spokesman noted: “We take cyber-security seriously as it relates to every aspect of our business.”

Lenders are none-too-thrilled with LOS compliance functions as well…

Overall, hackers stole financial information on roughly 140 million American consumers…

CIT Group will take a charge of up to $50 million on the sale of Financial Freedom...