Remove 2020 Remove Design Remove Insurance Remove Lending
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How 2020 raised the stakes for the mortgage industry

Housing Wire

Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. Sure, new online lending operations like SoFi, Better and a handful of others are taking advantage of their lack of traditional infrastructure.

Mortgage 313
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WFG reports its highest volume months ever during Q2 and Q3 of 2020

Housing Wire

Behind him, the recent financial crisis still cast a cautionary shadow over new business development, but ahead he saw opportunities for a client-centric, tech-focused family of companies in the title insurance and real estate settlement services industry. Now, at WFG’s 10-year anniversary, this vision holds even more relevance.

Insurance 367
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Mortgage AI firm Candor conducts layoffs

Housing Wire

The company debuted in August 2020 with a mission to automate much of the underwriting process when making income, asset and lending decisions. The firm’s automated underwriting tech is designed to augment human underwriters’ capabilities, allowing underwriters to handle more loans. In August 2021, Candor raised $12.5

Mortgage 311
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ESSA Bank to pay $3M to settle DOJ’s redlining allegations

Housing Wire

District Court for the Eastern District of Pennsylvania , ESSA “failed to provide mortgage lending services and did not serve the credit needs of majority-Black and Hispanic neighborhoods in the Philadelphia metropolitan area” from 2017 to 2021. According to a complaint filed by DOJ in the U.S.

Lending 266
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WFG expands title offerings for servicers

Housing Wire

WFG Title Insurance will now offer forbearance, loan modification, and foreclosure information reports as part of its general title and closing services. WFG reported its highest volume months ever during the second and third quarters of 2020.

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Redfin: Former redlined neighborhoods at massive flood risk

Housing Wire

of households in current neighborhoods that were once designated undesirable for mortgage lending are non-white, compared with 40.4% of households in current neighborhoods that were labeled desirable for lending. Presented by: Ylopo. Per Redfin, 58.1% “This perpetuates a cycle in which Black families lag financially.”

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CRT protects GSEs, taxpayers from unexpected disasters

Housing Wire

After reading the recent report from the Federal Housing Finance Agency on the performance of Fannie Mae and Freddie Mac’ s credit risk transfer programs, anyone unfamiliar with the purposes of CRT might understandably conclude that the GSEs vastly overpaid capital market investors and insurance providers to transfer credit risk off their books.

Insurance 276