As part of his departure package, Raman will receive $600,000 in cash severance payments, payable over 52 weeks, but is walking away from unvested stock appreciation rights.

However, 40 percent of those lenders who do not offer a mobile app plan to make one available over the next 12 months.

Recent findings from a Fannie Mae survey suggest a substantial digital divide exists between the mortgage lending industry and younger, more tech-savvy borrowers who want to shop for a mortgage online via mobile technology, such as smartphones and tablets. For instance, roughly three out of four lenders surveyed recently by the government-sponsored enterprise do not offer a mobile software application to help consumers shop for a mortgage. “Larger and mid-sized ...

The OCC’s language was not as strong as earlier reassurances from the CFPB that it would not be taking a “gotcha” or punitive approach when it commences with TRID examinations…

At the end of fiscal year 2015 the two GSEs had combined REO holdings of 78,738 units, a 36 percent decline from the prior year…

Some believe the FHA MMIF minimum capital standard should be 4.5 percent, not 2.0 percent.

Seemingly small differences in monthly mortgage payments for borrowers in bankruptcy helped prompt an $81.6 million settlement between Wells Fargo and the Department of Justice late last week. The DOJ’s U.S. Trustee Program said Wells repeatedly violated federal bankruptcy rules that took effect in December 2011 and imposed more detailed disclosure requirements to ensure proper accounting of fees and charges for borrowers in bankruptcy. The main instance cited in the settlement agreement was...

“I don’t think it does a lot of good to play the ‘blame game’ and I don’t think that’s where the solution lies,” said Brian Benson, CEO of ClosingCorp.

Vendors that have been supplying the mortgage lending community with the technology necessary to implement the Consumer Financial Protection Bureau’s integrated disclosure rule are suddenly under regulatory scrutiny over the struggles some lenders have had in being fully compliant with the new regulation. The so-called TRID rule took effect Oct. 3, 2015. A dark cloud began...

Nobody likes getting a mortgage, but interactive technology – if implemented correctly – can make the process significantly more transparent and less stressful, industry experts say. There is an opportunity in technology to make the system more transparent and help educate the next generation of homeowners, as well as minority groups, said Robert Greenbaum, director of communications and marketing at Fannie Mae, during a panel session at the annual convention of the Mortgage Bankers Association. “They aspire...