The Mortgage Industry Standards Maintenance Organization has announced the release of the MXCompliance Title v2.3.2 Request and Response certification, the fifth MXCompliance certification available for integration in industry-related technology business practices. The certification "allows organizations working in the title insurance industry to affirm their support of, and compliance to, MISMO standards for the transactions that help mitigate losses and protect property owners' and lenders' financial interest in real property," said Harry Gardner, head of MISMO and vice president of industry technology at the Mortgage Bankers Association. MISMO, a not-for-profit subsidiary of the MBA, can be found online at http://www.mismo.org, and MXCompliance can be found at http://mxcompliance.mismo.org.
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The agency proposed to repeal a regulation that requires FHLBanks to submit formal notices before engaging in new business activities that carry unmanaged risk.
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So far this year, the volume of closed-end second and home equity line of credit securitizations is near last year's $29 billion, Bank of America Securities said.
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Home price growth is accelerating as inventory stalls—Chicago and Pittsburgh lead mid-tier gains at 4.2%, while Denver and Las Vegas see supply-driven price corrections.
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The industry leaders are sparring over refinance business from a Mr. Cooper portfolio, and UWM contends it didn't specifically try to harm its rival.
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The trade group supports FHFA's overhaul but urges longer comment periods, more flexibility and protections to prevent unintended consequences.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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