The Mortgage Industry Standards Maintenance Organization has introduced an application date decision model and white paper on how lenders can combine standardized terms and decision modeling techniques to help ensure compliance with TRID.
Companies looking for financing that previously haven’t tapped the ABS market are seeing ABS issuance as an option due to changes in the broader financial market.
The license for the new mortgage lending company of Michael Strauss, the former president of now-shuttered Sprout Mortgage, has been suspended by the Illinois Department of Financial and Professional Regulation.
An appeals court has awarded ResCap Liquidation Trust nearly $22 million in damages and other expenses in its case against Primary Residential Mortgage.
Rocket Pro TPO is offering to compensate brokers trying to break free from market leader United Wholesale Mortgage, whose contracts prevent independents from doing business with two rival table-funders.
Ruling in a redlining case filed by the CFPB against a nonbank mortgage lender, a district court judge said Equal Credit Opportunity Act prohibitions do not extend to prospective applicants.
Consumer complaints regarding credit reports and student loans dramatically increased in 2022. Meanwhile, gripes about mortgages and debt collection declined. (Includes two data charts.)
The CFPB sued Chicago-based Townstone Financial in 2020, alleging that statements made on its radio show discouraged Black prospective applicants from applying for mortgage loans.