Compliance systems

First American Financial Corp. has acquired post-closing services and document management technology provider TD Service Financial Corp.

Automated underwriting and compliance services provider LoanScorecard has released a new product and pricing engine for portfolio lenders and originators.

Artificial intelligence like IBM's Watson may not make bank compliance officers obsolete, but it could mean far fewer of them will be needed in the future, focused on higher-level tasks.

IBM will purchase Promontory Financial Group — a consultancy so influential it has been dubbed the industry's "shadow regulator" — in a move that could extend artificial intelligence into every aspect of banking.

Regions Financial Corp. has agreed to pay $52.4 million to settle allegations that it violated the False Claims Act by originating and underwriting mortgages that did not meet Federal Housing Administration requirements.

In order for the mortgage industry and its technology to evolve in the future, lenders and servicers must redefine their expectations for connectivity and demand more open integrations between the systems they use.

Mid America Mortgage will begin purchasing electronically closed loans through its correspondent lending channel.

New specifications for Fannie Mae and Freddie Mac's common mortgage application unveiled Tuesday add data points and remove obsolete questions, as well as include additional capabilities to promote digital mortgage workflows.

Reynolds and Reynolds subsidiary International Document Services has added a fulfillment dashboard to its idsDoc mortgage document preparation system.

Mortgage closing technology company Snapdocs has released a new suite of tools tailored to meet the needs of settlement and title companies.

The Consumer Financial Protection Bureau's proposal Friday updating its mortgage disclosure rule did not give lenders what they wanted: an ability to correct errors after a loan has closed and a release from liability for technical violations. But the 293-page proposal did provide revisions that will help in compliance and the closing of more loans.

The private equity firm GTCR is interested in fintech companies looking to disrupt the status quo, so long as they have proved themselves and are paired with managers who have a long track record of success.

The CFPB updated its "Know Before You Owe" mortgage disclosure rule to provide more clarity to lenders. It has proposed additional tolerance provisions, clarified a partial exemption for housing finance agencies, extended the rule's coverage to all cooperative units, and provided more clarity about privacy and the sharing of information.

Sentiment regarding the need for disruption in the mortgage tech space remains divided, though a majority of lenders agree that the industry is working to innovate for better efficiency.

CoreLogic reported higher net income during the second quarter, reflecting the positive impact of its new valuation subsidiary and acquisitions.

In a move to reduce the strain on its small staff and improve service, a credit union in Wyoming now lets its members pay their mortgages and other loans simply by sending a text message.

Compliance and documentation technology provider Docutech has formed a partnership with San Francisco-based private equity firm Serent Capital.

Lenders don't need to worry about meeting new requirements for getting tax transcripts from the Internal Revenue Service heading into the holiday weekend.

BancorpSouth Bank agreed Wednesday to a $10.6 million settlement with the Consumer Financial Protection Bureau and the Justice Department for allegedly discriminatory mortgage lending practices that harmed minorities.

LendingTree is rolling out a new tool designed to help lenders identify borrowers who meet Community Reinvestment Act criteria.