Compliance systems

A proprietary loan origination system is the best way to stay ahead of compliance and organizational growth.

Critical shortcomings in data management and analytics to support servicing rights transfers will become more problematic amid servicer expectations of accelerated activity, according to the results of a National Mortgage News survey.

Accurately capturing mortgage data to meet new federal regulators is a top challenge for banks and credit unions, according to Wolters Kluwer Financial Services.

An alternative compliance model merges mortgage and home equity oversight by focusing on common operations is an innovative way to compete with the traditional manner of handling those efforts separately.

ComplianceEase has introduced an insurance-backed warranty program for audited loans.

Xome, a Nationstar Mortgage Holdings effort to automate the home-buying process, has launched a notary mobile app.

The Department of Housing and Urban Development launched a new ethics program that will support whistleblower, ombudsman and hotline initiatives.

Lenders that allow borrowers to shop for third-party settlement services face new liability, as the Consumer Financial Protection Bureau's integrated mortgage disclosure rules will let borrowers sue over problems with vendor lists.

Servicers should make some simple requests of their tech vendors to tailor compliance systems to their needs and avoid the headaches of overhauling compliance systems.

Fraud risk has diminished as a result of widespread changes that lenders have made to their origination practices, according to Fitch Ratings.

DotLoop, the tech startup Zillow just bought, takes the headaches and duplication out of managing real estate documents — up until the hardest part of the transaction, the mortgage. Expanding into mortgages is possible, but would be tricky.

Fannie Mae and Freddie Mac's decisions to make their automated underwriting systems free to use will feed more data to the GSEs, but do little to better serve lenders and borrowers.

The new supplemental performance metric should encourage lenders to serve lower credit score borrowers.

The Federal Housing Administration's Neighborhood Watch website is back online after crashing about three weeks ago.

Neighborhood Watch, the Federal Housing Administration's "early warning system" for monitoring mortgage defaults and lender performance, crashed more than two weeks ago and it's unclear when the service will be restored.

An organization's operations team can only effect change as far as management trusts and empowers them to.

The Consumer Financial Protection Bureau has ramped up its push for the mortgage industry to switch to an electronic closing process after results from a pilot program showed consumers favored it over in-person mortgage closing.

Ginnie Mae has updated the procedures manual used by the custodians of documents involved in mortgage-backed securities.

Lenders said the delay in implementing the combined loan and closing disclosures is giving them valuable added time to train their staff, according to a DocuTech survey.

Lawmakers included a measure that will impose new mortgage reporting requirements on banks and servicers as part of a short-term highway funding bill passed this week by both chambers of Congress.