•Staying in Compliance: DocMagic’s Dominic Iannitti details what you need to stay ahead of an avalanche of regulations.
•FHA’s Reboot: Along with its rapid ascent to top mortgage agency, FHA has come up with new tools to assist lenders.
•The Paperless Chase: Xerox survey respondents say the e-mortgage is coming. They’re just not sure when.
•Saving the Nation: Technology for the new era of servicing could help lenders get the country out of its financial doldrums.
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.
NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
