Originations

The Michigan bank is the latest company to have customer data compromised through a software vulnerability. The incident reinforces the importance of attack simulations, constant searches for intrusions and exchanges of intel with peers.

United Wholesale Mortgage's new rule, which forbids brokers from doing deals with two competitors, has brought extra attention to its smaller rival.

The Federal Housing Finance Agency is preparing to retire certain loan underwriting flexibilities after extending them one additional month to April 30.

The company posted an $88 million loss for 2020 after shutting down for nearly the entire second quarter.

Also: Fannie sets early limits, servicing retention rates fade to record lows and loan broker inquiries rise as competition heats up.

After a booming 2020, more mortgage lenders than ever before expect diminishing margins in the coming months as climbing interest rates set up heightened competition.

The Department of Housing and Urban Development extended an implementation deadline less than a week before new standards were scheduled to go into effect.

The agreement calls for the bank to pay $50,000 to an unnamed consumer and requires its staff to undergo fair lending training as it relates to appraisals.

As one of the few mortgage firms that finances singlewides, AFR’s decision to offer the product will lend momentum to major government-sponsored loan buyers’ efforts to expand their manufactured housing programs.

And there are some brawls on the field affecting the direction of business for the rest of this year.

The product being tested would join another on the market from Finicity, which is nearing the final stage of approval for use by Fannie Mae and Freddie Mac.

While many lenders have verification processes and systems of record in place for their structured data, they lack digital solutions capable of addressing the volume of customer data from documents that create a broad area of vulnerability for them, writes Reggie Twigg, director of digital enterprise at ABBYY.

The expansion of borrower data collected in the new URLA upends an industry standard and lenders are experiencing some growing pains.

The merger with Capitol Investment V values the title insurer at $3 billion.

A slight lift in the purchase market paired with a surprising reversal in the size of the average loan, according to the Mortgage Bankers Association.

Major secondary market players have been testing Fincity’s technology, which is in the final approvals stage with Fannie Mae and Freddie Mac.

Virtual events will continue to replace the large in-person gatherings for the foreseeable future, lenders in the Best Companies to Work for list say.

Amid a wave of initial public offerings and acquisitions, originators with employee stock ownership plans say the underutilized company structure has helped with recruiting and retention in a competitive market.

How mortgage companies with 500 or more employees stacked up against each other.

National Mortgage News presents the third annual Best Mortgage Companies to Work For — a survey and awards program dedicated to identifying and recognizing the industry's best employers and providing organizations with valuable employee feedback.