Technology news
As Rodrigo Lopez begins his term as chairman of the Mortgage Bankers Association, the Nebraska multifamily lender seeks to use the platform to embrace the challenges of improving diversity and technology throughout the industry, while remaining vigilant about the ever-changing regulatory landscape.
Roostify plans to connect its automated mortgage decisioning platform with employment and income data from Equifax.
Binh Dang has resigned as president of LendingQB, the company confirmed Thursday.
Greg Carmichael, who has been on the job nearly a year as Fifth Third's CEO, has started putting his stamp on the company by aggressively trimming branches in favor of mobile, seeking to build up its consumer credit business and retooling the balance sheet.
In a move designed to help further calm lender fears about mortgage repurchase liability, Fannie Mae is preparing to offer immediate representation and warranty relief to lenders that use its suite of automated quality assurance technology.
ClosingCorp has rebranded its Loan Estimate and Good Faith Estimate products as a single service, SmartFees.
Black Knight Financial Services has integrated technology from Fannie Mae and Freddie Mac with its LoanSphere Empower and LendingSpace loan origination systems.
The Internal Revenue Service's indefinite delay of a deadline for a new authentication procedure has headed off concerns about potential interruptions in mortgage production.
To successfully respond to the most pressing challenges facing the mortgage industry right now, lenders and servicers must navigate issues of competition, governance, affordability and margins.
Lenders and servicers haven't faced the same scrutiny over data security as their peers in retail and other financial services sectors. But mortgage companies must remain vigilant, as the extensive data they collect can expose consumers to identity theft if it got in the wrong hands.
By decreasing costs through technology, outsourcing and scale, servicers not only can give their margins a much-needed boost, but also set themselves up to reap rewards in the future.
The Mortgage Industry Standards Maintenance Organization has launched a new portal for collaboration and communication across the industry and updated its website.
Condominium associations cannot afford to take on the potential legal risk that reporting delinquent borrowers to the credit bureaus would bring.
Necessity, as they say, is the mother of invention. Unfortunately, it's taken years of widespread regulatory upheaval for mortgage servicing to find it necessary to start thinking about technology innovation.
Servicers have long skimped on technology investment, leaving legacy systems that can't keep pace with compliance demands. But rising costs and a new round of regulations are compelling both servicers and vendors to finally address these deficiencies.
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