Technology

Documenting and verifying a borrower’s income is one of the most basic tasks for an underwriter. While this appears to be relatively simple, validating income has become increasingly complex and susceptible to borrower fraud.

You remember the HARP program, don’t you? Originally, the idea was to refinance current but high LTV Fannie Mae/Freddie Mac borrowers into new, lower-rate loans—provided they were current. Home values (and lack of equity) reeked havoc on the concept so Uncle Sam took the LTV girdle off.

Abhinav Asthana of Wipro Gallagher Solutions discusses issues and trends around mobile technology.

One of the nation’s largest real estate brokerage firms said home sales were essentially flat in April after a 25% spike in March.

In order to remain competitive, small lenders need to integrated underwriting systems and the ability to provide market, sponsor and property history reports and information at the push of a button.

Insiders agree that certain types of solutions can serve as the best antidote to the still pervasive mortgage loan repurchase challenge.It is fueling a renewed drive to design tools that infuse all aspects of the mortgage production chain into coherent systems that are more efficient and transparent throughout the life of the loan.

Here's a fact you may not be aware of: properties governed by homeowner associations are the most rapidly growing form of housing in the U.S. today. Nearly 80% of new home construction is connected with an HOA or community association, according to the Community Associations Institute, the trade association representing HOAs.

Builders broke ground on more single-family homes in April than expected and the government revised upward its estimate of construction activity in March and February.

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Loan origination system vendor Mortgage Builder announced that it will acquire GCC Servicing Systems, the mortgage technology vendor it was spun off from in 1998.