E-docs

To avoid alienating a consumer base increasingly expecting digital options, lenders must take the plunge and update old loan origination systems that cannot accommodate today's technology demands.

Many lenders may not have been ready for the CFPB's new mortgage disclosure rule if it took effect on Aug. 1 as planned. Now a slip-up by the agency itself has given lenders a two-month reprieve.

WASHINGTON — After months of declining industry and congressional pleas to delay an impending rule combining two mortgage disclosure regimes, the Consumer Financial Protection Bureau on Wednesday announced a two-month delay due to an "administrative error."

Mortgage lenders are in the final stretch of preparing to deliver the new TILA-RESPA Integrated Disclosures to borrowers. But it's not just the change of forms that's causing alarm bells. Fines could be steep and legal liability could be even higher for violators, while necessary technology changes are expensive.

Veros will offer a direct connection to the Federal Housing Administration's new Electronic Appraisal Delivery portal using the same interface it offers for submitting appraisals to Fannie Mae and Freddie Mac.

Mercury Network, the mortgage lender and appraisal management company software unit of a la mode, was acquired by private equity firm Serent Capital, the companies announced Thursday.

Millennials' expectations indicate a major shift in values that lenders can see as an opportunity from both marketing and business strategy perspectives.

Rather than see TRID as a headache, think of it as an impetus to improve business performance, through broad transformation or more targeted enhancements.

Still reeling from underwriting guidelines that went into effect last year, some small lenders are worried that a new mortgage disclosure regime might be the thing that pushes them over the edge.

At #MBATech15 in Orlando, #TRID was on the tip of everyone's tongues. But other conversations also took place, centering largely on how technology adoption can make up for lost time and what future IT infrastructures will look like.

There are many ways our industry can use mobile technologies. But if we don't do it, someone else will.

The Federal Housing Administration will require single family home mortgage appraisals to be submitted through an online electronic delivery portal starting on June 27, 2016, the agency announced.

The Consumer Financial Protection Bureau may delay the Aug. 1 implementation deadline for new mortgage disclosure forms if vendors aren't ready, said CFPB Deputy Director Steven Antonakes.

An outage that crippled the Internal Revenue Service's ability to process 4506-T forms for nearly two weeks has been resolved, but the capacity constraints in the tax transcript service are an ongoing challenge for the mortgage industry.

The heightened regulatory environment for servicers has also prompted a wave of process improvements.

The latest version of Accenture Mortgage Cadence's Loan Fulfillment Center incorporates e-signature capability.

To take advantage of changing customer demographics and preferences, lenders must capitalize on digital technology. At the same time, digital technology should work in conjunction with, not as a replacement for, the loan officer.

With less than three weeks to go before new financial assessments for reverse mortgages became mandatory, the Federal Housing Administration announced Thursday that it will delay their effective date due to technical issues.

Mortgage document preparation vendor International Document Services has named its first chief executive.

New disclosure rules from the Consumer Financial Protection Bureau don't go into effect until this summer, but lenders are already worried about compliance and fearing it may make the closing process far more difficult.