At the MBA tech show, Fiserv noted that both its easyLENDER and UniFi PRO loan origination systems have received certification for credit reporting and mortgage insurance application through the MXCompliance service, an eXtensible Markup Language-based compliance process developed by MISMO.MISMO, a not-for-profit subsidiary of the Mortgage Bankers Association, develops mortgage data-exchange and file-specification standards for lenders and mortgage technology providers. This move signals that Fiserv, one of the largest technology vendors in the mortgage space, is making efforts to endorse industry standards within their products to make it easier for users to integrate with other products and services. Other MISMO certifications are forthcoming including automated underwriting and e-mortgage certifications.
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Consumers are 19% more likely to pay their auto loans than their mortgages, which is a shift in attitude from the pandemic period, FICO said.
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The transaction combines independent mortgage companies which are based in Strongsville, Ohio (East Coast) and Folsom, California (West Coast).
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Housing finance firms have anticipated a 25 basis point move, so what could move the needle is less that outcome than actions that go beyond or differ from it.
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A federal judge in Colorado ruled that the appraisal discrimination case raised by the government against both Rocket and Solidifi will move forward.
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New-home loan activity rose 1% in August year over year, but applications fell 6% from July.
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A group of Democratic Senators led by Elizabeth Warren, D-Mass., urged regulators to keep the 2023 Community Reinvestment Act overhaul, saying the rule was carefully crafted with bipartisan input.
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