The CFPB will work with participants to test many eClosing features, including those that may enable consumer understanding, incentivize early document review and facilitate error detection.

The bureau is expected to announce a pilot project to improve the mortgage closing process from A to Z for all stakeholders – not just consumers – an initiative likely to rely heavily on the industry’s technological capabilities.

The conditional prepayment rate for prime jumbo, Alt-A and subprime loans dropped to 14.7 percent, 10.3 percent and 8.8 percent, respectively, in the first quarter of 2014, according to the ratings service.

The strong improvement from last year was driven largely by a 46.8 percent plunge in grievances about loan modifications.

The FHFA shortly will begin to collect additional, more specific and personal information on borrowers and loans as part of the National Mortgage Database project the agency launched with the Consumer Financial Protection Bureau.

ICYMI: Late last week, the Consumer Financial Protection Bureau released its guide to completing its integrated disclosure forms under the Real Estate Settlement Procedures Act and the Truth in Lending Act.

The CFPB plans to launch a pilot project as part of its efforts to improve the mortgage closing process.

The Dodd-Frank Act prompted major changes for mortgage joint ventures, with some firms striking out on their own and others sticking with the smaller market.

U.S. Bank's mortgage originations in the first quarter of 2014 declined by 71.2 percent compared with the first quarter of 2013.

Mortgage-related complaints to the CFPB as of the first quarter of 2014 were down significantly compared with the previous year, though they increased compared with the fourth quarter of 2013.