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Nearly half of loans processed in Q1 showed fraud risks: FundingShield

Housing Wire

Nearly half (48%) of a $65 billion portfolio of loans processed during the first quarter of 2024 contained vulnerabilities to wire and title fraud , according to a report released Wednesday by FundingShield. The portfolio of loans examined included residential, commercial investor and business purpose loans.

Insurance 446
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Figure rolls out DART processing platform to private, wholesale lending partners

Housing Wire

DART is a mortgage processing product designed to offer the industry an alternative to offerings from Mortgage Electronic Registration Systems (MERS), with this latest move ostensibly designed to expand the reach of Figure’s own ecosystem. Synergy One Lending is the first partner to use the platform, Figure said.

Lending 380
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Wells Fargo, CoreLogic partner on real estate tax processing operations

Housing Wire

Wells Fargo and information services company CoreLogic partnered on real estate tax processing operations to enhance risk management, compliance and customer experiences in the mortgage servicing sector. A total of $152 billion in property tax payments were processed through the portal in 2021 and about 80% of U.S.

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How AI is changing the valuations process

Housing Wire

For investors, we can assist with finding problematic appraisals and evaluating them for a potential putback using the same process. HW: How is artificial intelligence being integrated into the property valuation and appraisal process?

Valuation 406
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LoanLogics integrates digital document processing tools with Finastra’s MortgagebotLOS

Housing Wire

LoanLogics, a mortgage loan quality automation provider, announced the integration of two of its document processing tools with Finastra ‘s MortgagebotLOS solution on Wednesday. This integration aims to enhance lender capabilities and facilitate document processing and income calculation, the statement said.

Tools 405
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DocMagic’s AutoPrep solution simplifies and automates the eClosing process

Housing Wire

DocMagic’s AutoPrep solution is the easiest step a lender can take to automate their eClosing process. AutoPrep saves time, protects resources and reduces errors by eliminating the effort involved in the manual tagging process. E-enabled documents are a fundamental component of eClosing workflows.

Lending 321
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A new solution improving accuracy in the appraisal review process

Housing Wire

The CoreLogic team developed Image Analytics to drive innovation in the appraisal review process by reducing time and touch on appraisals, with the goal of helping the industry ease into the upcoming demand for touchless appraisal review.

Appraisal 426