The technology, still in its early development stages, will analyze Home Mortgage Disclosure Act files prior to formal submission to the regulator so lenders can spot and fix errors faster.
Some nonbank issuers of mortgage-backed securities are wrestling with capital pressures, and Ginnie Mae has cooperated with their efforts to sell chunks of mortgage-servicing-revenue streams to investors.
Bank of America is asking the Justices to overturn lower-court rulings that mortgage loans with a secondary lien on a debtor's asset can be "stripped down" to zero when the collateral is completely underwater. The decision could affect an even wider range of second liens.
Confusion about pre-approvals is rampant and has been the subject of vehement debate.
From Our Blogs
»Pre-Approvals, Part Two: Yes, They Will Soon Be Worthless
»Prune HMDA Reporting Requirements for Small Banks
»Refreshing Policies and Procedures Through Interior Redesign
»Deceptive Acts and Practices Enforcement Keeps Coming
»More Low-Down-Payment Loans Do Not Have to Mean More Risk
»Stopping Appraisal Discrepancies Before It's Too Late
»Changing Winds in the GSEs' Rep and Warrant Framework: Part 2
»For Best Results, Regularly Test and Validate Data Extraction Tech
»Whose Email Is It Anyway
»One Risk Factor Common to All Financial Crises: Fraud
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