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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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Ready or not, CRA modernization is at the door

Housing Wire

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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2020 HW Tech Trendsetter: Samir Agarwal

Housing Wire

At Wolters Kluwer, Agarwal has tapped his extensive banking product development experience to create a group of offerings that assist local and regional banks to more effectively scale their operations and processes in support of their consumer-facing offerings.

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Introducing the HousingWire 2020 Tech Trendsetters

Housing Wire

This year’s 2020 list of Housingwire Tech Trendsetters certainly earned their status as the housing industry was met with incredible challenges and new opportunities. This diverse group of tech professionals helped to bring about the long-awaited modernization of the housing industry. The rest of this content is for HW+ members.

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ConsumerDirect Mortgage rebrands as Real Genius, introduces new tech platform

Housing Wire

ConsumerDirect Mortgage rebranded itself to Real Genius and announced the launch of a modern mortgage application platform to simplify a borrower’s experience. Since 2016, we’ve helped more than 51,000 families with their mortgage needs, lending more than $15 billion,” said Thornton. Learn here! Presented by: Maxwell.

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Park National Bank to pay $9M to settle redlining allegations

Housing Wire

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. Park National Bank didn’t respond to requests for comment.

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Digital mortgage startup Maxwell lands $16M in Series B

Housing Wire

The capital raise follows a $5 million Series A funding round in June 2020. Clients include Credit Union of Colorado , Texas Lending and JMAC Lending. Increasing lending and servicing capacity – regardless of mortgage rates. In 2020, the company says it surpassed $6 billion in monthly loan volume on its platform.

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