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Former Fannie Mae chief named as CEO of Silicon Valley Bank N.A.

Housing Wire

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , Treasury and introducing new technologies to the housing finance system. venture-backed technology and healthcare companies.

Insurance 381
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CFPB wants lenders to disclose reason for denial of credit

Housing Wire

The requirement also applies to mortgage lenders, legal experts say. The CFPB issued a statement to warn creditors that technology being “too complicated” is not an excuse for noncompliance. The CFPB issued a statement to warn creditors that technology being “too complicated” is not an excuse for noncompliance.

Law 430
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Trade groups warn of “unintended consequences” from proposed AVM rules

Housing Wire

On June 1 , six federal agencies requested comments from the public on a rule designed to ensure the credibility and integrity of models used in real estate valuations. The agencies intend to tackle two challenges evident during the Covid-years refi boom: higher costs due to appraiser shortages and concerns regarding bias in home valuations.

Valuation 368
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Stavvy’s solution securely digitizes and automates every aspect of the real estate transaction process

Housing Wire

Most digital solutions in the lending industry are designed to solve one problem and built for one audience in mind. Stavvy enables digital transformation by helping organizations navigate complex financial and legal transactions easily and safely, which allows organizations to put customer experience at the forefront.

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Remote online notarization is the proper path forward for digital closings

Housing Wire

The strong standards in the bill are important to prevent fraud and offer consumers a more secure alternative rather than simply using free online audio-audio technology when buying property or refinancing a mortgage. Prior to the pandemic, ALTA and MBA saw a need to develop model RON legislation.

Law 451
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Hours before its IPO fizzled, Guild Mortgage agreed to pay $25M to settle federal lawsuit

Housing Wire

Just before its stock debuted at a disappointing $15 a share, Guild Mortgage settled a federal lawsuit that claimed the lender knowingly breached legal requirements when it originated and underwrote FHA loans. Those loans, originated between 2007 and 2011, defaulted and led to claims to the FHA for mortgage insurance.

Mortgage 497
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Virtual notary adoption surges as businesses rush to close transactions remotely

Housing Wire

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. In July, DocuSign acquired Austin-based startup Liveoak Technologies for $38 million in an all-stock transaction.

Business 486