Compliance systems

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.

Black Knight Financial Services, in its second deal as a publicly traded company, has bought business analytics firm Motivity Solutions.

Mortgage servicers have failed to make significant investments in technology and compliance systems, resulting in substantial harm to consumers, according to a report issued Wednesday by the Consumer Financial Protection Bureau.

Sales growth was the top reason lenders gave for investing in new technology, according to a new study from sales automation software firm Velocify.

Longstanding mortgage advertising rules are taking on new meaning in the age of digital marketing.

ICBA Mortgage has expanded its relationship with DH Corp. to offer Independent Community Bankers of America members access to the MortgageBot loan origination system.

Without the Consumer Financial Protection Bureau setting specific debt collection guidelines — including what technology agencies can use — the industry will continue a practice that harms consumers: lawsuits.

The Mortgage Industry Standards Maintenance Organization plans to simplify its membership structure, the Mortgage Bankers Association said.

The Consumer Financial Protection Bureau and other federal banking agencies should do more to protect consumers with limited English proficiency, a report from Americans for Financial Reform says.

Detroit’s renaissance has had spillover effects, including a sharp reduction in the frequency of fraud, misrepresentation and other defects in mortgage applications, First American Financial Corp. said Thursday.

Ellie Mae has launched the latest version of its mortgage management software, featuring updates on trade management reporting and Freddie Mac and Fannie Mae integrations.