Technology

Browse articles from all of our Newsletters related to Technology.

October 11, 2017 - IMFnews

GSEs Unaffected by Deloitte’s Computer Break-In

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


October 10, 2017 - IMFnews

Short Takes: CIT Will Take Hefty Hit on Sale of Financial Freedom / OneWest’s Roots / Fannie and Freddie Affected by Deloitte Hack? / ALTA Unveils Registry / A New Hire for Platinum

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


October 10, 2017 - IMFnews

The Equifax Data Breach – What it Might Mean for the Mortgage Industry. Warehouse Implications?

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


October 10, 2017 - IMFnews

Lenders Not Pleased with LOS Systems, ‘LeadGen’ in Particular Gets Low Marks

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


October 9, 2017 - IMFnews

Short Takes: Treasury Working on GSE Ideas? / Will Trump Get Involved Directly? / Sauri Launches FinKube / Too Much Overhead, Maybe / A New Hire for Endeavor

With Trump being a real estate developer – though that part of his career is on hold right now – it will be interesting to see if he takes a hands-on approach to reforming the GSEs...


October 6, 2017 - Inside Mortgage Trends

Partnership Promotes Singular, Digital Platform

Industry activity to promote the digitalization of the mortgage process seems to be accelerating of late. This week, ServiceLink, a provider of transaction services to the mortgage industry, and Roostify, a provider of automated lending technology, announced a partnership they said will extend the digital experience for lenders and consumers alike. Chris Azur, CEO of ServiceLink, said the pairing will improve the overall consumer and lender mortgage experience through enhanced ...


October 6, 2017 - Inside Mortgage Trends

Using SaaS as ‘Fast Pass’ to the Digital Mortgage

Accenture, a global professional services company, is re-imagining Software-as-a-Service to give mortgage lenders an advantage in migrating to a digital lending environment. In a new white paper, the firm begins by noting that mortgage lenders are moving as quickly as possible these days toward the digital mortgage. “While each lender defines this product slightly differently, the consumer sees it as an overdue evolution in home finance,” said Accenture. “There are many advantages for ...


October 6, 2017 - Inside Mortgage Trends

Few Lenders Are Satisfied with Lending Systems

There’s room for improvement in loan origination system offerings, according to a survey of 250 lenders by Strategic Mortgage Finance Group. The consulting group recently released details from its 2016 survey on lenders’ LOS. Lead generation/management was by far the lowest rated functionality within various systems. Only 4.0 percent of survey participants said the lead generation/management offered by their LOS was highly effective. “With the market shift to more purchase business, the lack ...


October 5, 2017 - Inside Mortgage Finance

The Equifax Data Breach Affected 140 Million U.S. Consumers, Impact on Lenders May Be Ahead

Mortgage lenders haven’t yet experienced any operating headaches from the Equifax data breach this summer – but the ramifications might come slowly and not be immediately discernable. One nonbank CEO told Inside Mortgage Finance that he’s angry about the breach for two rea-sons: his personal information was stolen and it could cause business problems because warehouse banks, state licensing agencies, investors and housing authorities pull Equifax reports to check on him ...


October 3, 2017 - IMFnews

Short Takes: Some Criticism for the GSE Regulator / Security National Passes $3B Mark / Ellie Mae Completes Velocify Deal / Banks Will Pay Because of Equifax Mess / Executive Bolts Stearns for Sierra Pacific

But that didn’t stop the conservative from the Lone Star state from offering up some critiques on the FHFA...


October 2, 2017 - IMFnews

Short Takes: Less Than 90 Days / Ka-Ching / FHFA Issues Reminder on Tech Security / Clarification / A Promotion at Summit Valuations

In less than 90 days...


September 29, 2017 - Inside MBS & ABS

Fintech Pioneer Social Finance Faces the Music: CEO And Others Resign. New Jumbo MBS and IPO in Doubt

Social Finance, a former fintech darling, has been through the ringer of late: cofounder, CEO and “brain” Michael Cagney resigned midmonth amid sexual harassment allegations and other top executives have departed as well, raising questions about the company’s direction – and future. SoFi, as it’s known, was a “disruptor” of sorts in the financial services arena, refinancing student loans made to millennials at cheaper rates and then securitizing the paper. Over the past 18 months, the privately held startup has been...


September 28, 2017 - IMFnews

Short Takes: Nice Gains for GSE Shares / Sen. Bob Corker’s ‘Short’ Recommendation / Corker for FHFA Director? / Keep an Eye on GSE MF / Former Ellie Mae COO Lands at Blue Sage

Keep in mind that Mel Watt’s term as Federal Housing Finance Agency director expires in January 2019...


September 28, 2017 - IMFnews

MBA Warns Members: Equifax Data Breach May be ‘Largest Cybercrime in History’

MBA is encouraging members to “evaluate their own security preparedness.”


September 26, 2017 - IMFnews

Short Takes: Hurricane-Damaged MSR Deals? / FHA MF and Warehouse Lender Files to go Public / MBA Hires a Legend (Named Legend) / Nationstar Issues HECM Backed by ‘Inactive’ Collateral / Don’t Pass the Hat for Equifax’s Newly Departed CEO

The Mortgage Bankers Association is projecting that more than 4,600 residential finance professionals will attend its annual convention in Denver next month.


September 25, 2017 - Inside the CFPB

Digital Mortgages Lessen Investor Anxiety, Enhance Compliance

An industry switch to digital mortgage lending may be costly upfront, but it would have saved the industry a ton of money and aggravation had it been adopted a decade ago, and can help resolve investor anxiety about legal liability and ensure greater regulatory compliance going forward, according to industry experts. In a webinar last week sponsored by Inside Mortgage Finance, Tim Anderson, director of eServices for DocMagic, pointed out that, when it comes to complying with the CFPB’s TILA/RESPA integrated disclosure rule, proof of delivery can be a big issue with investors, and e-closings/e-mortgages can be a huge help in resolving the anxiety that stems from the use of paper documents. “Three-day delivery is a big deal, [including] acknowledgement ...


September 22, 2017 - Inside Mortgage Trends

Tech Helps Lenders Avoid Costly TCPA Lawsuits

Lawsuits arising from violations of the Telephone Consumer Protection Act have increased tremendously over the last couple of years and technology has been trying to stem the tide. By all accounts, TCPA litigation is out of control, wrote Charles Insler, an attorney in the St. Louis office of Hepler Broom, in an analysis of TCPA litigation trends earlier this year for the American Bar Association. Quoting from a 2016 opinion from the Seventh Circuit, Insler noted that TCPA litigation has ...


September 22, 2017 - Inside Mortgage Trends

Multiple Roadblocks Stymie Digital Lending

Most of the hindrances to wider adoption of digital mortgages have to do with the many moving parts associated with the mortgage transaction as well the numerous parties involved with it, and not the legal landscape, according to one top attorney. “The common misconception is that there are a lot of legal roadblocks [to paperless lending]. And there certainly are some. There are some states that don’t support it as fully as would be necessary,” Scott Samlin, a partner with ...


September 22, 2017 - Inside Mortgage Trends

Underwriters Experiment with ‘Alt’ Data

A number of lenders outside of the mortgage market are starting to rely on alternative data to help make underwriting decisions. The Consumer Financial Protection Bureau is also encouraging use of such alternative data sources, which could prompt adoption by more lenders. Speaking at the ABS East conference produced by Information Management Network this week in Miami Beach, Joanne Gaskin, a senior director at FICO, said some lenders are relying on ...


September 21, 2017 - Inside Mortgage Finance

Why Should Mortgage Lenders Go Digital? That’s Where the Customers Are, Pros Say

Much of the historical discussion about the mortgage industry going fully digital and adopting e-mortgages has revolved around cost savings, greater efficiencies, validating compliance and other benefits. But at the end of the day, the biggest reason is that lenders’ customer base is increasingly focused on digital technology, and lenders need to go where the borrowers are. “That’s where the consumers are, right? Finally, everybody’s going online to shop for most of their products, and mortgages are starting to happen the same way,” said Tim Anderson, director of eServices for DocMagic, during a webinar last week sponsored by Inside Mortgage Finance. “They’re going out there looking for rates and pricing, they’re looking for real estate. If you want to capture that marketplace, you meet them out there in cyberspace.” Scott Stephen, president of the online division of Guaranteed Rate, noted...


September 21, 2017 - IMFnews

Why Should Lenders Go ‘Digital’? Because That’s Where the Customers Are

“Everybody’s going online to shop for most of their products, and mortgages are starting to happen the same way,” said Tim Anderson, director of eServices for DocMagic, during an Inside Mortgage Finance webinar…


September 20, 2017 - IMFnews

Short Takes: Did Wells Dodge a Bullet on its CFPB Fine? / A ‘Recommendation Memorandum’ / No Effect on Wells’ Mortgage Business / Subject the CFPB to Appropriations / Stearns Goes ‘Digital’

Wells Fargo could have been subject to a whopping $10 billion fine...


September 18, 2017 - IMFnews

Nonbank Lenda Gets Backing of $5.25 Million

Lenda originally began as a refinance provider in 2013…


September 15, 2017 - IMFnews

Interest in Mortgage Tech Heats Up

Blend announced a stunner – it had raised $100 million in “Series D” funding…


September 14, 2017 - Inside Mortgage Finance

United Wholesale Keeps Funding Startup Grants For Brokers, but Doesn’t Have Much Company

At least 40 new loan brokerage firms have been created this year thanks to $500,000 in grant money donated last fall by United Wholesale Mortgage, Troy, MI. In fact, the effort has been so successful that, UWM – which is the largest table-funder of brokers – recently kicked in another $100,000. As for future growth in the initiative, that’s hard to say. UWM, so far, has been...


September 13, 2017 - IMFnews

Short Takes: At SoFi, CEO Cagney is Out. As for the IPO… / Stock Options as an Enticement / Patenaude Nomination Could Get a Vote / Flawless TRID Implementation? / Arbolida to Manage LA Branch for Finance of America

It’s possible that the nomination of Pam Patenaude to be the number-two at HUD could get a floor vote this week...


September 8, 2017 - Inside Mortgage Trends

Interest in Mortgage Tech Heats Up

Over the past few weeks, two $100 million-plus transactions involving mortgage technology companies have been announced, signaling that more activity may be ahead in the space as residential finance moves toward the digital age. “This is an interesting time,” said consultant Jeff Lebowitz, a former Fannie Mae executive who has been tracking tech changes for two-plus decades. “There’s a paradigm shift going on. Outside guys are coming in, thinking there’s big changes ahead for ...


Poll

The year is almost 75% done. How is mortgage origination volume at your shop?

We will fund about the same as we did in 2016.
We will fund more than last year – by a little.
We will fund more than last year – by a lot.
We will fund less than last year – by a little.
We will fund less than last year – by a lot.

vote to see results