Document Systems Inc. CEO Dominic Iannitti
New compliance requirements don’t typically inspire the most innovative technology enhancements in the mortgage industry. But the upcoming overhaul of borrower disclosure forms has created an opportunity to re-engineer the way lenders and title companies execute mortgage closings, according to Document Systems Inc. CEO Dominic Iannitti.
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The number of foreign-born homeowners in the United States has increased from 800,000 new immigrant homeowners during 1980-1990, to 2.1 million in 1990-2000, reaching 2.4 million in 2000-2010. Credit: © iQoncept - Fotolia.com
Residential Finance Corp. is offering the “Foreign National Loan Program” designed to meet the special needs of foreign-born buyers.
Laggards in adopting compliance technology can take a long time to get up to speed. Credit: © alexcoolok - Fotolia.com.
Laggards in adopting compliance technology can take a long time to get up to speed.
Source: Fotolia
In the post-crisis housing market appraisal reports are becoming as important as credit scores, requiring lenders and servicers to be more inventive with the tools they use to assess real estate value risks.
Source: Fotolia
Housing price gains and the critical role of valuations during the recovery may require lenders to watch over an appraiser’s shoulder.
The CFPB also has been “exceptionally data driven” in examining loan information. Image: Fotolia.
Data integrity is a key focus in quality control when it comes to getting a loan closed both efficiently and accurately in line with compliance.
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