Technology

Greg Carmichael, who has been on the job nearly a year as Fifth Third's CEO, has started putting his stamp on the company by aggressively trimming branches in favor of mobile, seeking to build up its consumer credit business and retooling the balance sheet.

In a move designed to help further calm lender fears about mortgage repurchase liability, Fannie Mae is preparing to offer immediate representation and warranty relief to lenders that use its suite of automated quality assurance technology.

ClosingCorp has rebranded its Loan Estimate and Good Faith Estimate products as a single service, SmartFees.

Black Knight Financial Services has integrated technology from Fannie Mae and Freddie Mac with its LoanSphere Empower and LendingSpace loan origination systems.

The Internal Revenue Service's indefinite delay of a deadline for a new authentication procedure has headed off concerns about potential interruptions in mortgage production.

Lenders and servicers haven't faced the same scrutiny over data security as their peers in retail and other financial services sectors. But mortgage companies must remain vigilant, as the extensive data they collect can expose consumers to identity theft if it got in the wrong hands.

By decreasing costs through technology, outsourcing and scale, servicers not only can give their margins a much-needed boost, but also set themselves up to reap rewards in the future.

While compliance costs continue to increase for lenders, the rising age of company owners is what's prompting many independent mortgage bankers to sell their companies.

To successfully respond to the most pressing challenges facing the mortgage industry right now, lenders and servicers must navigate issues of competition, governance, affordability and margins.

The Mortgage Industry Standards Maintenance Organization has launched a new portal for collaboration and communication across the industry and updated its website.