Street Resource Group Inc., a provider of technology and consulting services for mortgage warehouse lenders, has announced the formation of the Closing Agent Risk Committee, an industry group focused on risks associated with the loan closing process.The committee, a response to "the growing incidence of mortgage fraud and the pivotal role closing agents play in that process," stemmed from discussions at SRG's annual Warehouse Lenders Forum in New York City, where Scott Broshears of the Federal Bureau of Investigation presented mortgage fraud data, SRG said. Tom Holland, senior vice president of Regions Funding, led a discussion on closing agent risk and argued for the formation of a committee of executives from leading warehouse lenders to address the issue. Mr. Holland now heads the committee. Citing the growth of the recently formed Warehouse Information Network, SRG president Stanley Street promised that WIN will form committees on regulatory issues and industry standards and practices.
-
The San Diego company was back in the black with a net income of $28.5 million in the first quarter of 2024, up from a net loss of $93 million the previous quarter.
11h ago -
The agreements at the heart of the hearing did not cover the one reached with the National Association of Realtors or those people that only bought homes.
May 9 -
Feds say Chicago businessman Mark Steven Diamond defrauded at least 80 victims and caused at least $6 million in losses.
May 9 -
Fannie Mae's tool, used by originators to determine income levels for self-employed borrowers, aims to help them avoid potential underwriting errors, the government-sponsored enterprise said.
May 9 -
The 30-year fixed rate mortgage fell for the first time in six weeks as the Federal Open Market Committee meeting outcome is finally priced in.
May 9 -
The home purchase market right now is healthier than it was last year, said CEO Mat Ishbia, noting a 24% increase in volume over the recent period compared to Q1 2023.
May 9