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HUD seeks public comment on updates to reverse mortgage documents

Housing Wire

Department of Housing and Urban Development (HUD)’s Office of Policy Development and Research is seeking public comment related to application and origination documents for the Federal Housing Administration (FHA)-backed Home Equity Conversion Mortgage (HECM) program, according to a notice published this week in the Federal Register.

Mortgage 372
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Florida-based LO accused of falsifying documents

Housing Wire

A spokesperson from Department of Housing and Urban Development’s Office of Inspector General said that the loans funded were FHA-insured loans. She allegedly created phony prepaid debit card statements designed to serve as records of the borrowers withdrawing the monthly child support payments.

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Floify’s new platform aims to provide flexible pricing for mortgage lenders

Housing Wire

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said.

Mortgage 397
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FFIEC issues statement of principles for examining appraisal and valuation bias

Housing Wire

FFIEC is a federal interagency coalition consisting of the Federal Reserve Board of Governors (FRB), the Federal Deposit Insurance Corp. The statement is designed to clarify standards by which entities under the purview of individual regulators violate applicable rules and regulations.

Valuation 383
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Stavvy joins forces with WFG on eClosing tech solutions

Housing Wire

Stavvy , a fintech company specializing in digital and remote collaboration for lending and real estate companies, announced on Wednesday a new partnership with WFG National Title Insurance Company (WFG) to provide the company and its customers with eClosing technology solutions.

Insurance 358
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MISMO searches for participants for closing initiative

Housing Wire

The Mortgage Industry Standard Maintenance Organization (MISMO) announced last week that the organization is looking for participants for an initiative focused on standardizing pre-closing title document data sets. This frequently results in delayed document review and general inefficiencies in pre-closing procedures.

Insurance 339
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Fintech Stavvy acquires servicing tech firm Brace

Housing Wire

Homeowners can now apply, submit documentation, track progress, receive a prompt decision, and electronically execute relevant documents, the Boston, Massachusetts-based fintech said. Founded in 2018 , Stavvy works to increase efficiency and transparency in real estate and mortgage lending.