Two months wandering in a new compliance landscape makes the prospect of a seamless, paperless eMortgage even more compelling. In our increasingly digital society, an entirely paperless process for mortgage loan origination seems to be the next logical step.
Gabe Medrano just started as the go-to guy for the correspondent lending division at NexBank, and already he is seeing something he doesn't like. In front of him early on a Thursday morning, on his computer monitor, the Dow Jones Industrial Average...
The now ubiquitous term “housing economy” isn’t just another industry buzzword: it’s a phrase whose coinage is claimed by HousingWire. And it also happens to be a term that helps capture and frame our raison d’être as a publishing house covering the sprawling housing finance space.
It doesn't exactly send a terrible shiver down the spine in the same way as, say, IRS might. By comparison, HOA bears a somewhat comfortable ring -- standing of course for homeowners' association. Yet for RMBS investors, the man from the HOA can has as chilling an effect as the dreaded taxman.
Bill Ashmore doesn’t want to date himself. But he does. And he really, really does when he recalls a time in the mortgage business when work happened before the advent of the computer. Back then, when Ashmore started, scanning the room of a mortgage office likely meant a visual presentation that in 2013 appears like a scene from Argo.
In late June, the rally in the stock market came to a crashing halt. Jittery investors watched from the sidelines as their bearish side took control, unable to do anything but watch the New York Stock Exchange slip below 15,000 — victims of their own making.
The CFPB left the grace period open-ended and most in the industry interpreted that to mean that it will last throughout the rest of 2015, at least. Unfortunately, as welcome as that grace period is, TRID remains a costly and complicated fix that has enormous implications for the whole industry..
“Bad letters damage the brand,” Katherine Porter says. “There’s a contagion effect of this. I think bad letters are unjust. They disproportionately harm the borrowers we need to help the most.” Read More
The answer may be found somewhere between commandeering the entire process and “throwing it over the fence.” For lenders, paying more attention to the source of the data and information used in finalizing settlement (title searching, valuation and the like) could hold the key. This means data reporting collected in a more robust, accurate and verifiable fashion. Read More