New York Attorney General Eric Schneiderman, seen here in this May 2011 file photo, filed a lawsuit against Merscorp and three large lender-servicers.
Another state attorney general has filed a lawsuit against Merscorp, this time in New York, where Eric Schneiderman took aim at the thousands of MERS “certifying officers” employed by mortgage servicers whom he alleges filed defective and inaccurate foreclosure documents that deceived and mislead borrowers and courts.
Image:Thinkstock
The end of Google Advisor Mortgage is another missed opportunity by a larger technology player trying to make its mark in the mortgage industry.
Image:Thinkstock
After significantly reducing its geographic footprint in November, Google “discontinued” its mortgage rate advertising platform Wednesday, just two years after the search engine entered the online rate search and lead generation market.
Not only has the housing meltdown affected state and local governments, servicers and investors, but homeowner associations too. These associations rely upon property taxes to pay for such services as utilities, trash pickup, snow removal, landscaping, and road and building maintenance, but vacancies have mitigated the number of improvements made in these communities.
Image by ThinkStock
A major hurdle for the mortgage industry in 2011 that may continue to pose a significant risk this year is ineffective quality control. Interthinx identified two defects in the outsourced quality control programs of lenders that affected residential mortgage loan files—missing documentation and inaccurate information.
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  • Visions in the Cloud- Series on cloud computing
  • Cloud Originations- Q&A with Roger Hull
  • Social Media-How to set the right policies
  • 2012 Forecast- What's in store for the new year?
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