Mortgages

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 servicer owned by Mr. Cooper agreed to pay a penalty for allegedly failing to provide its clients with clear information on foreclosure and defaults.

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.

Rohit Chopra, President Biden's pick to lead the Consumer Financial Protection Bureau, told a Senate panel he would do more to protect veterans from foreclosure, empower consumers to dispute data on their credit records and crack down on student loan servicers that aren't helping troubled borrowers.

With the pandemic’s radical disruption of the housing market, values grew at the highest rate in eight years, according to CoreLogic.

The rush to refinance led to more errors in January and the shift to more-risky purchase apps will add to lenders' fraud concerns going forward.

In an analysis of the pandemic's impact on the housing market, the agency said nearly 10% of households could be at risk of eviction or foreclosure despite government programs to enable homeowners to delay their payments.

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

The mortgage giants were authorized to give just over $1 billion combined to the National Housing Trust Fund and the Capital Magnet Fund this year, the highest contribution ever. The amount reflects refinancing growth in 2020.

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.

The number of home listings collapsed to the lowest level on record, leaving “nearly all of the shelves empty,” Glenn Kelman said in the company’s latest home sales report.

The mortgage brokerage franchisor added 30 operating offices and had its best year yet for unit sales.

But profitability may have peaked. Rocket reported a 4.41% profit margin on newly originated loans last quarter but told investors on Thursday to expect margins on new loans this quarter to be around 3.6% to 3.9%.

The automation is more prevalent but the net adoption rate is low, the Stratmor Group found.

While foreclosure moratoria keep the overall numbers down, zombie foreclosure rates jumped in the majority of states, according to Attom Data Solutions.