Data and information management

The trade group wants Equifax to reimburse community banks for costs tied to the massive data breach at the credit bureau this year. The ICBA also wants a court to order Equifax to improve its security measures.

With mortgage originations on the decline, lenders that want to regain lost volume or grow market share must work harder to identify and reach underserved borrower segments.

Built Technologies successfully completed a capital raise, enabling the three-year company to expand its software offerings for both commercial and residential construction lenders.

Equifax reported earnings that were 27% lower and mortgage services revenue was 2% lower on a year-to-year basis after revealing a major breach and taking steps to improve security.

Home equity lines could double over the next six years. Some banks are actively pursuing the consumer credit opportunity, whereas many still feel stung by the housing crisis, unimpressed by home equity’s comeback so far or fearful of nonbank competition and fraud.

Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.

The U.S. Bankruptcy Court for the Southern District of Florida has approved a portal created by HLP to enhance communications during the mediation process.

CoreLogic's net income dropped to $31 million in the third quarter from $36 million a year ago due to a settlement and an estimated 25% decline in origination units.

Fannie Mae is staging more pilot projects with lenders and vendors, including one that consolidates submissions of different types of loan data potentially eligible for immediate representation and warranty relief.

Fannie Mae is authorizing additional suppliers of reports that can give lenders immediate representation and warranty relief on certain data, diversifying beyond an exclusive partnership with Equifax in one category.