GMAC-RFC has picked LoanIQ from First American Real Estate Solutions as its collateral risk-mitigation tool.LoanIQ deals with collateral fraud, considered the most damaging form because it creates actual dollar losses. Using a predictive model based on actual "bad loan" cases, LoanIQ provides two scores to help GMAC-RFC and other lenders fast-track low-risk loans through the system while flagging high-risk loans for further examination, First American RES said. FBI statistics show that mortgage fraud losses more than doubled in 2005, from $429 million in 2004 to more than $1 billion, the company reported. GMAC-RFC will incorporate LoanIQ into its existing collateral risk-mitigation system. The companies can be found online at http://www.gmacrfc.com and http://www.firstamres.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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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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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18