Data and information management

WASHINGTON — Fannie Mae and Freddie Mac would be able to evaluate and use new credit scoring models under a bill introduced in the House that seeks to create more competition in the credit scoring industry.

From single-point-of-contact requirements to the need for better self-service options, servicers surveyed by National Mortgage News are taking a much-needed hard look at the full range of customer touch-points that they operate.

In one instance, a single complaint in the Consumer Financial Protection Bureau's database was counted as 35 different ones while in another, a complaint against a payday lender was filed against an unrelated bank. Current and former officials say that's par for the course, leading to inflated complaint numbers and inaccurate data.

Amid a renewed focus on improving customer service and the overall borrowing experience, lenders surveyed by National Mortgage News indicate a strong interest in customer-relationship management software, but remain tepid about electronic signatures.

While regulatory pressures remain top of mind for the mortgage industry, lenders surveyed by National Mortgage News are shifting their attention from defensive-minded compliance initiatives to ones that improve companies' ability to compete.

Calling the purchase of its first customer-relationship management vendor "a mistake," Ellie Mae CEO Jonathan Corr is ready to tee off with its new CRM acquisition, Mortgage Returns.

While national mortgage fraud risk is on the decline, here's a look at six markets where loan defects are rising.

Combined with the disparate impact theory, recently recognized by the U.S. Supreme Court under the Fair Housing Act, the HMDA rule further compounds legal risks and business challenges to lenders.

The CFPB’s expanded data requirements for the Home Mortgage Disclosure Act will create a powerful tool for analyzing fair lending compliance. But some say the initiative is a massive overreach that could compromise borrower privacy.

Over a third of appraisals during the third quarter featured property quality or condition ratings that did not match previous ratings, according to an Oct. 19 report from Platinum Data Solutions.