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HUD to double servicer fee on assumable mortgages

Housing Wire

According to Todman, the industry has been asking for years for HUD to be helpful on assumable mortgages, which “is a complex transaction that she has “come to understand that sometimes the juice is not worth the squeeze.” ” There was a “hue and cry,” Todman said. .

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FHA unveils Automated Underwriting System as part of modernization initiative

Housing Wire

The Federal Housing Administration announced on Wednesday the launch of its first automated underwriting system that will allow lenders to submit loan application data electronically for single family forward mortgages from their loan origination systems to FHA for mortgage insurance eligibility.

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OCC moves to rescind 2020 version of CRA rule

Housing Wire

The Office of the Comptroller of Currency announced today that it is moving to gut the controversial Community Reinvestment Act (CRA) rule issued in 2020. The issuance of the OCC’s NPR today is an important step toward strengthening and modernizing the CRA,” said Acting Comptroller Michael J.

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2020 HW Tech Trendsetter: Jeff Allen

Housing Wire

Now leading Clear Capital’s mortgage collateral modernization programs, Allen is reimagining and re-engineering how home valuations are manufactured and partnering with major lenders and GSEs to bring greater efficiency and speed to the consumer. The post 2020 HW Tech Trendsetter: Jeff Allen appeared first on HousingWire.

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Ready or not, CRA modernization is at the door

Housing Wire

Banks also would be able to get credit for community development activities, even if that work occurs outside of their branch footprint. Small-dollar mortgages, for example, could be viewed as a responsive home-mortgage product, the proposed rule states. Doing those two things is difficult.”.

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Robert Howerton joins Dovenmuehle as chief information officer

Housing Wire

Dovenmuehle Mortgage , a top mortgage subservicing company, has appointed Robert Howerton as chief information officer to oversee the company’s IT infrastructure, the company announced on Tuesday. Prior to joining Dovenmuehle Mortgage, Howerton was the leader platform security engineer at IBM.

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FHA launches new partial claim payoff portal

Housing Wire

The Federal Housing Administration (FHA) announced on Thursday the launch of a new portal for the Department of Housing and Urban Development ’s Single Family Mortgage Asset Recovery Technology (SMART) system. The FHA, Office of Public and Indian Housing (PIH) and mainframe modernization were placed as top priorities.