Housing Wire

MAY 5, 2022

That’s partly because, according to a joint notice of proposed rulemaking from bank regulators on Thursday, banks’ performance would be judged by where they lend, not just where they have branches. Honestly we don’t know if that is coming or not,” said Ricard Pochkanawala, senior policy council at the Center for Responsible Lending.

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Modernization Lending Retail Law 344

Housing Wire

FEBRUARY 17, 2021

For those of us who have been in the mortgage industry for any length of time, we understand the complexities surrounding guidelines, the importance of staying up to date on key changes within the industry and how our communication to both our clients and partners is imperative in order to build and maintain relationships.

Tools 457

Tools Lending Modernization Mortgage 457

Housing Wire

MARCH 10, 2021

In the last decade, community lenders—those credit unions, community banks, and independent mortgage banks who serve their local markets—have grown to own the market. Now, with 2021 leaning back to purchase-driven volume, they are positioned to accelerate that market dominance. This segment needs a lot more education.

Marketing 382

Marketing Technology Lending Business 382

Housing Wire

FEBRUARY 2, 2022

ConsumerDirect Mortgage rebranded itself to Real Genius and announced the launch of a modern mortgage application platform to simplify a borrower’s experience. Additionally, the lender promises borrowers a “personalized approach” and “access to veteran mortgage professionals.”.

Mortgage 287

Mortgage Technology Lending Modernization 287

Housing Wire

APRIL 14, 2021

Non-QM lender Sprout Mortgage has brought on Infosys ‘s chief information officer and global director of real estate finance solutions, Henry Santos , as its own CIO and executive vice president, the company announced Tuesday. The post Sprout Mortgage shakes up executive suite appeared first on HousingWire.

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Mortgage Lending Legal Modernization 257

Appraisal Buzz

SEPTEMBER 15, 2021

—Digital transformation is underway with a modern approach to appraisal management—. Boston, September 14, 2021 – Reggora , an appraisal software company, improving residential real estate valuation, announced today that Envoy Mortgage has adopted its appraisal management system to help process all loans requiring an appraisal.

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Technology Appraisal Modernization Mortgage 195

Housing Wire

OCTOBER 1, 2022

A federal judge has ruled in favor of a coalition of community housing groups against the Consumer Financial Protection Bureau (CFPB), vacating part of a Trump-era rule that impacted the reporting obligations of certain mortgage lenders. Presented by: Mortgage Coach.

Lending 361

Lending Design Law Modernization 361

Housing Wire

MARCH 8, 2023

District Court for the Southern District of Ohio last month, alleged that Park National failed to provide mortgage lending services by redlining majority-Black and Hispanic neighborhoods in the Columbus area from at least 2015 to 2021. The complaint, filed in federal court in the U.S.

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Advertising Lending Modernization Investing 298

Housing Wire

MARCH 28, 2024

Modern manufactured homes are an unusual feature of today’s housing market, the rare homeownership opportunity that is both lower-cost and high-quality. Nevertheless, in 2021, only 36% of completed home-only loan applications were approved; this 64% denial rate has remained relatively unchanged over the last four years.

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Business Finance Buyers Lending 394

Housing Wire

JUNE 22, 2022

Emanuel Cleaver of Missouri asked the Government Accountability Office (GAO) to review the OCC’s fair lending oversight. The GAO also tracked the number of fair lending examinations the OCC performs each year, finding they have dropped off significantly since 2018. Democratic lawmakers Rep. Joyce Beatty of Ohio, Rep.

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Lending Training Government Modernization 367

Housing Wire

OCTOBER 1, 2022

The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. million consent order with Trident Mortgage Co., Attorney General Merrick Garland said in a statement.

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Law Loan Officers Lending Advertising 371

Housing Wire

JUNE 2, 2023

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. million consent order with Trident Mortgage Co.,

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Lending Advertising Design Loan Officers 266

Housing Wire

FEBRUARY 7, 2022

Independent mortgage banks have been “completely blindsided” by the increase in enforcement activity, said Daniella Casseres, who leads the mortgage regulatory practice group at law firm Mitchell Sander. As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality.

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Insurance Modernization Lending Mortgage 332

Housing Wire

JUNE 8, 2022

With a deadly combination of low housing inventory, reduction in refis and surging mortgage rates, consolidation in mortgage tech is expected. Businesses and entire industries tanked during the pandemic, but it created an ideal environment for mortgage tech companies, some of which rode the wave to banner years and historic growth.

Mortgage 330

Mortgage Technology Loan Officers Investing 330

Housing Wire

NOVEMBER 18, 2022

Don’t be fooled by last week’s mortgage rate collapse. A combination of elevated mortgage rates, sluggish home sales and inflation continue to plague the housing market workforce, with numerous mortgage lenders and real estate startups shedding employees. Presented by: ServiceLink.

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Loan Officers Modernization Finance Housing Market 388

Housing Wire

MAY 24, 2021

Our first goal was to make mortgage lending easier and more accessible, but we’ve been intentional in recognizing that our technology can be used to facilitate so much more, including commercial lending, servicing, foreclosure and more,” Ligris said. How modernized servicing creates customers for life.

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Technology Lending Investors Modernization 351

Housing Wire

DECEMBER 17, 2021

14 survey, collected responses from 391 mortgage companies, banks and credit unions from Aug. The survey’s main indicator score reached 128, a 20-point increase from 2020 to 2021. Fair lending laws and regulations have 60% of respondents very or somewhat concerned. 4 to Sept. It’s no mystery why.

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Modernization Lending Law Business 314

Housing Wire

APRIL 21, 2021

Temporary flexibilities related to employment verification, condominium project reviews, and expanded power of attorney are being allowed to expire as scheduled on April 30, 2021, the FHFA said. The government agency also said it plans to retire all temporary selling flexibilities on May 31, 2021.

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Real Estate Agent Valuation Appraisal Modernization 392

Housing Wire

APRIL 11, 2022

More and more borrowers are looking for a fast, effective mortgage process that involves less paper. We recently spoke to Amanda Hill, Head of Mortgage Solutions at Reggora, about actionable steps lenders can take to overcome barriers to automation. Modern technology is key for lenders who want to stay competitive in this regard.

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Modernization Technology Tools Appraisal 309

Housing Wire

SEPTEMBER 19, 2023

One of the challenges in discussing what the mortgage industry needs to do next is figuring out what’s actually coming next. Reining in costs In all of 2022 and through the first half of 2023, the average mortgage lender lost money on every mortgage it originated. This does not, however, mean digital lending has stalled.

Marketing 310

Marketing Technology Lending Mortgage 310

Housing Wire

SEPTEMBER 18, 2020

As lenders continue to adjust to a new normal, the pivotal role of technology has become increasingly clear in maximizing productivity and keeping lending pipelines flowing. HousingWire reached out to Chandler to discuss how COVID-19 has propelled a much-needed modernization among lenders. What are some examples of these strategies?

Business 394

Business Lending Technology Clients 394

Housing Wire

SEPTEMBER 30, 2021

With fluctuating volume, mortgage servicers are still struggling to effectively scale their business. HousingWire: What challenges are mortgage servicers facing this year? Philip Reinking: Mortgage servicers are facing substantial growth but a lack of talent in scaling business growth.

Insurance 267

Insurance Lending Modernization Clients 267

Housing Wire

JANUARY 3, 2023

When it comes to offering an opinion of ‘good or bad’ on HR 7735 — the VA modernization bill — and its ultimate ability to create a better appraisal process for veteran and active duty borrowers, it’s simply too early to tell with too little information being shared on exactly what changes we should expect.

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Modernization Real Estate Agent Reconsideration of Value Appraisal Process 74

Appraisal Buzz

AUGUST 9, 2021

There are many facets to the appraisal business: lending, non-lending work, residential, and commercial work. Answer: the appraisers that paid attention to policy changes and the inner workings of the mortgage industry. Most appraisers that focus on federal policy are typically related to mortgage rates.

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Appraisal Inspection Lending Business 435

Housing Wire

FEBRUARY 10, 2022

Reverse mortgage software solutions and loan origination system (LOS) provider ReverseVision announced on Thursday morning that it has been acquired by a division of Toronto-based Constellation Software , a holding company that bought another mortgage LOS in 2019. Leadership at Constellation Mortgage Services, Inc.

Development 328

Development Modernization Technology Mortgage 328

Housing Wire

MAY 16, 2022

The Biden administration today unveiled a plan that it says will “help close” the housing supply gap, which one 2021 tally put at 1.5 The plan is in addition to measures the federal government announced in September 2021 that the federal government said would create 100,000 homes in three years. “On million homes, in five years.

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Supply Chain Finance Development Renovations 345

Housing Wire

MARCH 29, 2022

And if these agencies were to find that a merger ran counter to public interest because of a bank’s discriminatory lending practices, it’s not likely anyone would know about it. Senior administration officials claim that rooting out “modern-day redlining” is a top priority. And HUD can bring lawsuits claiming bias in mortgage lending.

Lending 350

Lending Government Law Mortgage 350

Housing Wire

NOVEMBER 23, 2022

The current market downturn for mortgage lenders may be shorter than the previous cycles, mainly due to the recent rounds of workforce layoffs imposed by nonbanks. Nonbanks have more than 60% market share of mortgage industry production — and they are more likely than banks to move quickly to reduce capacity.

Marketing 330

Marketing Loan Officers Business Mortgage 330

Housing Wire

DECEMBER 31, 2021

At the onset of the Coronavirus pandemic, the mortgage industry was preparing for absolute disaster. Mortgage executives held emergency meetings with their creditors over worst-case scenarios. Fratantoni’s organization is forecasting mortgage rates to gradually climb over the course of 2022, ending the year at 4%.

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Marketing Law Government Mortgage 414

Housing Wire

MARCH 13, 2023

The lawsuit alleges that an appraiser with 20/20 Valuations lowered the valuation of a home because the owners, Nathan Connolly and Shani Motta, were Black — and were also denied the owners’ mortgage refinancing application with loanDepot based on the lower appraisal, which violated the FHA and ECOA.

Appraisal 336

Appraisal Valuation Law Loan Officers 336

Appraisal Buzz

NOVEMBER 3, 2021

As the appraisal process is undergoing major shifts towards modernization and new levels of automation, this void was ripe for a solution. ANSI Z265-2021 has been developed by experts working at and in conjunction with the NAHB. The CRN applauds NAHB and the Home Lab for their efforts in developing this standard.”.

Valuation 370

Valuation Development Technology Appraisal 370

Housing Wire

MARCH 1, 2022

In January I received a text message from Dave Savage, CEO of Mortgage Coach. News just broke that private equity investor LLR Partners announced strategic investments in two mortgage technology companies — Mortgage Coach and Sales Boomerang ( click here for article ). Tech100 Mortgage Winners. Hey Clayton …” and a link.

Real Estate 316

Real Estate Brokerage Real Estate Agent Technology 316

Appraisal Today

DECEMBER 16, 2022

Industry Insider Insight on Risk and Modernization. Joe Minnich, a condo risk consultant, spoke on how loans secured by an individual unit in a condominium project have greater risk than found in typical SFR lending. Fannie New Appraisal Form Modernization. Mortgage applications increased 3.2 To read more, click here.

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Modernization Appraisal Contracts Real Estate 52

Housing Wire

APRIL 25, 2022

But that all changed with the 2008 financial crisis, in which nonbank lenders made billions in bad mortgage loans, and, as a consequence, would eventually be placed under the supervision of the CFPB (in addition to depositories with $10 billion or more in assets and their servicers).

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Modernization Law Lending Mortgage 293

Housing Wire

MARCH 9, 2021

Prognosticators are already suggesting the mortgage market has recently “peaked.” Most agree that in 2021, we will not match the astronomical origination volume seen in 2020. This was a major topic of discussion among mortgage lenders in 2018, our last whiff of a true purchase market. But not everyone will be prepared.

Marketing 410

Marketing Technology Lending Business 410

Clear Capital

APRIL 15, 2021

April 15, 2021 — Clear Capital, a real estate valuation and analytics fintech leader, today announced its latest product, ClearInsight , an easy-to-use mobile app that enables real estate professionals, homeowners, and appraisers alike to quickly generate a complete digital picture of a home.

Modernization 69

Modernization Appraisal Valuation Real Estate 69

Housing Wire

MARCH 28, 2022

If you’re a mortgage lender, you’re undoubtedly familiar with IRS Form 4506. Nevertheless, the IRS’ initial attempts to update and automate its system didn’t quite align with Congress’ goal to streamline the lending process for small business owners and consumers. In the subsequent years, the IVES system continued to feel outdated.

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Modernization Business Lending Mortgage 367