Fees falling outside of tolerances cost the industry more than $1 million per 1,000 loans, according to an ICE Mortgage Technology study from earlier this year.
The deal creates a secondary market and securitization outlet for the Ohio-based lender, which reportedly is the buyer of Angel Oak Home Loans.
Mortgage industry hiring and new job appointments for the week ending Sept. 20.
"I would be quite surprised if he did not make a choice that fair-minded observers on both sides recognized as a reasonable person," Summers said on Bloomberg Television.
The credit bureau is working with Plaid to provide lenders with current and predictive cash-flow data for consumers that don't have an extensive credit record.
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Treasuries surged and investors boosted their bets on Federal Reserve interest-rate cuts Monday as fear of a economic slowdown took hold across US markets.
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With views of current finances among the poorest Americans already near the lowest in 14 years, tariffs are set to add more pressure by making many everyday items even pricier.
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The Coalition for Financial Ecosystem Standards, a fintech group co-founded by Sima Gandhi, is publishing guidelines for how banks and others can assess them.
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As the 30-year fixed-rate declined by almost 20 basis points, borrowers took advantage, boosting rate-and-term transaction volumes, Optimal Blue said.
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The builder's lending unit bought servicing and secondary market approvals that weren't part of Guild's previous acquisition of CCM's production and branding.
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In a packed courtroom, a federal judge parsed whether the Trump administration's aggressive actions to rein in the Consumer Financial Protection Bureau are part of a "normal" transition of power or would impede its statutorily required functions.
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Recently, many in the financial services industry have pushed for a weak qualified mortgage rule, and have even pushed for rolling back Dodd-Frank altogether.
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There may be "extinction level" liabilities associated with paying illegal bonuses to loan officers based upon the profitability of originated loans.
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If you know the answer to four questions, you will have a better handle on quality control.
- ON-DEMAND VIDEO
Monetary policy remains the key to the markets. The Federal Open Market Committee predicts one rate cut in 2026, but the panel will get a lot of data before
- ON-DEMAND VIDEO
With the government reopened and data flowing, the FOMC may cut rates again in Dec. Steve Skancke, Chief Economic Advisor at Keel Point, will break down the mee
- ON-DEMAND VIDEO
Will the Federal Reserve cut rates in October? BNP Paribas Chief U.S. Economist James Egelhof discusses the meeting and Chair Jerome Powell's press conference.
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