GMAC Residential Funding, Minneapolis, has entered into an agreement with ComplianceEase that will integrate GMAC Residential Funding's Assetwise Compliance Engine with ComplianceEase's ComplianceAnalyzer.The companies said the integration will create "one of the most comprehensive" compliance systems available. "In addition to auditing loans addressing certain federal, state, and local mortgage loan laws, mortgage lending partners will be able to evaluate their loans against GMAC Residential Funding's specific guidelines regarding 'high-cost' or similarly designated mortgage loans prior to closing the loan," GMAC Residential said. GMAC Residential is a unit of Residential Capital Corp. ResCap and Compliance Ease can be found online at http://www.rescapholdings.com and http://www.complianceease.com.
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Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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