Almost every week it seems like a lender launches a digital mortgage process allowing for loan applications to be received and processed online effortlessly and efficiently. However, according to a recent survey of lenders, a number of barriers stand in the way of digital mortgages. Lenders cited various technology issues, costs and difficulties getting loan officers to change behavior as barriers to digitizing the mortgage process. Some 73 lenders participated in the survey administered by the Strategic Mortgage Finance Group earlier this year. The top barrier to digital mortgage offerings was...
“Even with optimal outcomes agreed by all parties in a typical three- to five-year contract, public and private company CEOs find themselves constantly under the ‘results’ microscope," said consultant Paul Hindman.
A Manhattan appeals court raised the burden of proof for Ambac Assurance, which seeks to recover monetary damages from Bank of America in an insurance case involving $1.68 billion in securities backed by high-risk mortgages from now-defunct Countrywide Home Loans. Attorneys with Shepherd Smith Edwards & Kantas said a panel of the Appellate Division, First Judicial Department, ruled that Ambac may not use New York insurance law as the sole basis for arguing that it does not have to prove certain elements of fraud in its claims against BofA. The court also barred Ambac from using the statute to recover damages. The court held...
Sam Kazman, general counsel for the Competitive Enterprise Institute, says the hearing involves fundamental issues about the basic structure of our government…
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