Mortgage technology will be ready to address TRID

Mortgage technology will be ready to address TRID

Won’t magically make challenges and cost of compliance disappear

Mortgage industry embraces new CFPB mortgage toolkit

Know Before You Owe gets qualified stamp of approval

Did little-known Arizona law start the appraiser death clock?

Gov. Ducey inadvertently hands a victory to AMCs
W S

Lending

Quicken Loans selling credit-monitoring company Quizzle to Bankrate

Sale marks first time Quicken sells self-built company
Ben Lane
In a first for the company, Quicken Loans is set to sell off a self-conceived and self-built company. The company announced Wednesday that it agreed to sell Quizzle, the national credit monitoring site which began in 2008 as a project of Quicken Loans’ marketing team, to Bankrate.
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Radian completes sale of Radian Asset to Assured Guaranty

Total purchase price was $804.5 million
Ben Lane
According to Assured Guaranty, the final purchase price for Radian Asset was $804.5 million, paid in cash. According to Radian, its net proceeds on the deal were $789 million, due to transaction-related expenses.
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Expected FICO changes to aid risky borrowers

Will reflect utility payments
Brena Swanson
Borrowers with a bad credit history are getting a second chance in the mortgage game. Fair Isaac Corp. is supposed to announce a new credit score metric as soon as this week that will help borrowers who are regarded as too risky by some lenders obtain mortgages, credit cards and auto loans.
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HUD’s Castro to Realtors: We want alternatives to traditional credit scoring

Credit accessibility continues to dog marginal homebuyers
Trey Garrison
Several real estate trade groups spent Wednesday discussing the challenges that credit standards pose for access for some would-be borrowers and alternatives to traditional credit scoring. Good idea, or increasing the subprime risk?
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Mortgage lending continues seismic shift from large banks to nonbanks

AEI: Nonbanks move toward riskier loans
Trey Garrison
A new study released by the American Enterprise Institute’s International Center on Housing Risk found that the seismic shift in home purchase loan originations away from large banks to nonbanks continued in February, and the mortgage risk is increasing.
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Best cities to play Pac-Man in Google Maps

Nine challenging levels included
Brena Swanson
Think you’ve mastered Google Maps’ April Fools’ Day joke? Here are the 9 hardest cities to beat the game in, in order. And the city holding the number one spot as the hardest city is definitely not where you would expect.
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Here are the 3 basic requirements for any real estate company

#1: Pick quality technology
Larry Leon
The real estate market is evolving. Gone are the days of millions of distressed assets waiting to be serviced. What's left? A new emerging real estate market with a heavy focus on technology and compliance versus cost.
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Mortgage technology will be ready to address TRID

Won’t magically make challenges and cost of compliance disappear
John Vong
Maybe it’s the proximity to Disney’s Magic Kingdom, but at the Mortgage Bankers Association tech conference in Orlando this week I couldn’t help remembering futurist Arthur C. Clark’s third law of technology that says, ‘‘Any sufficiently advanced technology is indistinguishable from magic.” But can technology magically solve the industry’s compliance challenges?
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Mortgage industry embraces new CFPB mortgage toolkit

Know Before You Owe gets qualified stamp of approval
Trey Garrison
The Consumer Financial Protection Bureau on Tuesday released a new toolkit that guides consumers through the process of shopping for a mortgage and buying a house, and the mortgage industry thinks it’s a good idea.
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ADP: Employment grows by 189K

Falls below estimates
Brena Swanson
Private sector employment grew by 189,000 jobs from February to March, coming in softer than predictions.
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