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Updated: 26 sec ago
Mortgage applications decreased 4.7% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending June 26, 2015. Want to know why?
“The CFPB undoubtedly remains the single most powerful and least accountable Federal agency in all of Washington,” Jeb Hensarling said. “When it comes to the credit cards, auto loans and mortgages of hardworking taxpayers, the CFPB has unbridled, discretionary power not only to make those less available and more expensive, but to absolutely take them away.”
”Together, we provide enhanced mortgage technology, compliance capabilities, critical borrower communication and fulfillment solutions and data-enriched analytics that greatly reduce companies’ compliance and operational burdens. It is exceptional how well the companies complement each other,” said Jonathan Kunkle, president of LenderLive’s GuardianDocs division.
The Treasury document also contradicts statements made a number of times by Treasury officials about the capital ratios that Fannie Mae and Freddie Mac would have to maintain. The document claims the percent is 3% to 4%, while statements since then have claimed 10%.
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.”
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry.
With the huge adoption of managed IT services (better known as SaaS or cloud services), an SOC 2 audit provides a definitive statement of security assurance. This warrant is exactly the kind of information that financial institutions need when evaluating managed service providers.
Significant regulatory changes such as the upcoming TRID rollout serve as compelling reminders that today’s mortgage default servicing industry requires quality technology that is both well-managed and well-maintained. To optimize efficacy, every link in the servicing chain needs to have a strong technological foundation: As a community, we have to work together to commit to a coordinated and consistent approach.
At the turn of the market, while other valuation technology companies were struggling to keep the doors open, Veros had diversified its focus to include the development of valuation management software services, as well as two landmark industry innovations.
Ellie Mae, a provider of on-demand software solutions and services for the residential mortgage industry, named Peter Hirsch the company’s executive vice president of technology and operations.
In this role, Komski will be responsible for introducing DocMagic’s entire suite of software solutions to large, enterprise-level lending organizations.
The average level of guarantee fees charged has increased since 2009. However, as the study shows, the changes will result in little or no change to borrowers. This chart gives a comprehensive history of g-fees since 2008.
A truly unique Seattle-area home that boasts neighbors like L.A. Fitness and Trader Joe’s is on the verge of being torn down, a sad end to a tale that many likened to a real-life ‘Up.’
Yale Law School lecturer Logan Beirne examined a lawsuit recently filed by three Fannie Mae and Freddie Mac investors accusing the federal government of exceeding its authority as a conservator, and in a National Law Review article, he supports their contention.
The price that borrowers pay for a 0% down payment loan from the U.S. Department of Agriculture’s Rural Housing Service is reportedly set to rise later this year. Click through to learn more.