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    Late last year, as the fallout from the fake account scandal at Wells Fargo was still in full force, rumors began to circulate that the bank could be facing another regulatory smackdown due to reportedly failing to meet its requirements under the Community Reinvestment Act. And Tuesday, the other shoe dropped, as the bank disclosed that it did indeed fail to meet its CRA requirements.

Articles by Sarah Wheeler

Monday Morning Cup of Coffee: The dark side of mortgage automation

Plus, the latest on the New York Fed's cyberheist
Lots of people, including your friends here at HousingWire, have noted that the mortgage industry is ripe for tech disruption. But buried in all the good news about efficiency, lower costs and borrower satisfaction is the potential for serious job loss. Here's a look at how the technological revolution could impact the financial services industry. All that, and much more, in your Monday Morning Cup of Coffee.
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Exclusive with former HUD Secretary Julián Castro: Trump budget will create more homeless veterans

Castro gets candid: "There's no vision here"
Julián Castro served as secretary of the U.S. Department of Housing and Urban Development from 2014 to 2017 under former President Barack Obama. In an exclusive interview with HousingWire, Castro explains his concerns with the proposed $6.2 billion in budget cuts to HUD. In his words, "There’s no vision here. It’s almost like a cartoon cutout of an ideologue’s conception of the budget." From homeless veterans to small towns, these are the areas he says will be the hardest hit.
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SXSW: Leveraging big data to reach the credit invisible for purchase mortgages

Amherst InsightLabs panel on the impact of a fully quantified housing ecosystem
Last year, investment in real estate tech startups totaled more than $6 billion, which isn’t surprising given the implications of big data on the housing economy. Everything from evaluating risk management to analyzing the next trend in housing depends on gathering “clean” information on mortgage borrowers and home sellers. But one group remains largely absent from this data collection, and this is the group that most intrigued a panel of big data experts assembled by Amherst InsightLabs at SXSW on Sunday.
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Think compliance is hard now? Wait till the new HMDA regs kick in

Notes from the compliance town hall at the Ellie Mae Experience conference
“I’m amazed that we can’t do HMDA right — it’s been around since the 70s,” said Jack Konyk, executive director of government affairs for Weiner, Brodsky, Kider. “If you can’t get HMDA right now when there are only, for example, three possible demographic answers, God help you next year when there are over 20.”
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Ellie Mae hosts Build-a-Bear charity event for children's charities

Experience conference program benefits local community
Brightly colored bears, monkeys, puppies, alligators and giraffes line tables at Ellie Mae’s Experience conference, ready to be delivered to five separate children’s charities in Las Vegas. The mobile Build-a-Bear workshop is part of the company’s volunteer program, EllieCares, and will benefit Ronald McDonald House of Greater Las Vegas, Community Outreach of Nevada, CIS (Communities in Schools) Nevada, St. Jude’s Ranch for Children, and The Foundation for Positively Kids.  
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At the Ellie Mae Experience conference, the company's growth is palpable

Capping off a blockbuster year, the company rolls out more enhancements
The setting — the bright, exuberant Wynn in Las Vegas — provides a fitting backdrop for the upbeat conference. But make no mistake: Ellie Mae’s growth is a result of some serious challenges facing the mortgage industry, and many at the conference are there to find answers.
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Here's how to really increase innovation in mortgage banking

Adam Grant brings thinking on "Originals" to Ellie Mae conference
Alan Grant is a professor at the Wharton school of business who researches creativity and innovation. In a wide-ranging and entertaining session at the Ellie Mae conference, Grant detailed what really fosters innovative thinking within companies.
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Biggest industry pain points with TRID still tied to title and settlement services

Ellie Mae Experience conference panel outlines where proposed changes still fall short
In a conference room packed with lenders at the Ellie Mae Experience conference, it was clear that the proposed changes to the TILA-RESPA Integrated Disclosure rule are welcome, but don't go nearly far enough. The biggest complaint? The Consumer Financial Protection Bureau proposed changes to the rule don't address two of the biggest challenges, both of which concern lenders coordinating with title and settlement services.
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From HW Magazine

How consumer demand is fueling a mortgage transformation

Companies are innovating to keep pace with heightened expectations
Ironically, the monkey on the mortgage industry’s back for the past 10 years — increasing regulation — is the very thing that forced companies to find efficiencies in every part of the process, which serves them well as they look to engage tech-savvy consumers. Even as the enforcement of some of those regulations is now in question, the long-lasting benefits of investing in automation will stand. 
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