Jim Mortensen: Auto-Verification Reduces Fraud, Improves Loan Quality
PERSON OF THE WEEK: Jim Mortensen is vice president of identity solutions for Early Warning, a provider of automated verification solutions to the mortgage industry.
RealtyTrac: Flipping Surged To Two-Year High In Q1
“Home flipping has been gaining steam for the last year-and-a-half thanks to falling interest rates and a dearth of housing inventory for flippers to compete against,” says Daren Blomquist.
LenderLive Reorganizes Into Two New Business Units
LenderLive has reorganized itself into two new business units - mortgage and services - and has made some corresponding leadership changes.
The two new units...
Arturo Garcia: AVMs Advancing But Will Never Replace Human Appraisers
"There will always be a need for local knowledge and expertise, not to mention an on-site evaluation of the physical property."
OCC Terminates Mortgage Servicing-Related Order Against Wells Fargo
The Office of the Comptroller of the Currency (OCC) has terminated its mortgage servicing-related order against Wells Fargo Bank, having found that the bank...
Michael Ball: Online Lending Platforms Will Increase Competition
PERSON OF THE WEEK: Michael Ball is vice president of markets and strategy for Integrated Media Management (IMM), a provider of e-signature and automated...
Guild Mortgage Vows To Fight DOJ Complaint Alleging It Improperly Underwrote FHA Mortgages
“It is unfortunate that lenders such as Guild have been placed in this untenable position where any minor error could result in substantial financial penalties.”
FOMC: June Rate Hike Likely If Economy Keeps Improving
During its most recent meeting in April, the Federal Open Market Committee (FOMC) voted to take no action on short-term interest rates, leaving them...
FHA Seeks To Further Strengthen Its Reverse Mortgage Program
The Federal Housing Administration (FHA) is seeking feedback on a set of proposed measures that will further strengthen its Home Equity Conversion Mortgage (HECM)...
Black Knight Acquires eLynx
Black Knight Financial Services, a Fidelity National Financial company, is acquiring eLynx, a provider of document and data solutions for the mortgage industry, for...
William Fall: The Biggest Challenge With Collateral Underwriter ‘Is The Scores’
PERSON OF THE WEEK: William Fall is the founder and CEO of Valuation Partners, a national appraisal management company with access to thousands of...
CoreLogic: Completed Foreclosures Jumped 9.3% In March
There were about 36,000 completed foreclosures in March - an increase of 9.3% compared with 33,000 in February but a decrease of 14.9% compared with 42,000 in March 2015, according to CoreLogic.
FHFA Principal Reduction Program Will Barely Dent Underwater Population
So, just how many seriously underwater homeowners will benefit from the Federal Home Finance Agency's (FHFA) proposed new principal reduction program?
According to a report...
CFPB To Tweak TRID For Greater Clarity
"We do recognize that incorporating some of the bureau's existing informal guidance, whether provided through webinar, compliance guide or otherwise, into the regulation text and commentary would be helpful," Richard Cordray says.
Brian Benson Steps Down As CEO Of ClosingCorp
Brian Benson has reportedly stepped down from his role as CEO of ClosingCorp, a provider of residential real estate closing cost data and technology...
Larry Alston: Mortgage Lenders Must Embrace Big Data
PERSON OF THE WEEK: Larry Alston is senior vice president and general manager for Mortgage Builder Inc., an Altisource business unit that combines best...
Ellie Mae: Average Number Of Days To Close Fell Back To Normal
The average number of days to close a mortgage loan fell back to a more normal range - about 44 days - during March,...
Fidelity Bank Settles HUD Fair Housing Claims For $1 Million
Lender accused of engaging in unfair lending practices against minority mortgage applicants.
NAR: Existing-Home Sales Jumped In March
Existing-home sales, including single-family homes, townhomes, condominiums and co-ops, were at an adjusted annual rate of 5.55 million in March – a jump of...
Katharine Loveland: Lenders Now Shifting Their Focus To HMDA
PERSON OF THE WEEK: Katharine Loveland is executive vice president (EVP) for software delivery and professional services at Accenture Mortgage Cadence, a provider of...