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REwired

Freddie Mac CEO: Mortgage industry running better than ever

Recent net loss not the end of the economic world
This year Freddie Mac “survived” the stress test scenarios that imagine a crash larger than the subprime crisis. Those are just tests, but what about today's reality? Should we expect more losses from Freddie, despite the strength of the overall industry?
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The digital mortgage revolution is happening now. Are you ready?

The new normal for mortgages
How fast is the digital mortgage revolution happening? Before I could even finish a feature piece for HousingWire’s magazine on digital innovation, get it edited, published and put on the website, let alone delivered in the mail, Wells Fargo rolled out an entirely new, more simplified and streamlined mortgage app for cell phones. Today’s digital pace of change is faster than fast. Are you moving with it?
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Monday Morning Cup of Coffee: Don't worry, Warren Buffett says there's no housing bubble

And then he puts his money where his mouth is
Over the weekend, thousands of enthusiastic followers of Warren Buffett descended on Nebraska to hear from the famed "Oracle of Omaha" at Berkshire Hathaway’s yearly meeting. During the meeting, Buffett touched on the economy, investing, politics and life. And housing. Quite a bit about housing, actually. Here's your full recap, plus more on Buffett's burgeoning homebuilding empire. All that and more, in your Monday Morning Cup of Coffee.
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Dick Bove: Where will the mortgage money come from?

Equity analyst not sure there's an answer
In light of Rafferty Capital Markets equity analyst Dick Bove's obvious bias, there's no denying he has a valid point: the primary source of mortgage financing in this nation is under threat. That threat is not only inaction but political wrong-headedness.
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California loss-mitigation bill creates more problems than it solves

Here are 8 unclear and dangerous provisions of bill
California continues its effort to pass a law that would require loan servicers to work with successors to borrowers on loss mitigation options. Unfortunately, SB 1150, while well intended, has the potential to create more problems than it solves. Here are just some of the unclear and dangerous provisions of bill.
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Pavaso blog header revision 2

Closing Call

Taking ID verification to the MAXX

New tool lets lenders validate borrower's identity, character references
With its latest tool, IDMAXX, Pavaso has enabled lenders to achieve two aims with one solution. By leveraging a borrower’s network for both identity verification and character references, lenders can be assured that 1) the borrower is who they claim to be and 2) the total picture they have of that borrower, and the risk that borrower may pose, is accurate and complete.
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Redefining when the mortgage process starts

It's not what you think
Traditionally, there is plenty of jockeying for position amongst the differing players in the real estate transaction, particularly between lenders and realtors, over who owns the relationship with the consumer. Be warned: There isn’t going to be any place for that kind of possessiveness in the post-TRID market.
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The production challenges beyond TRID

Transitioning to a digital space
If the mortgage industry is serious about addressing the longer closing times created by TRID, not to mention attracting millennials as potential homebuyers and/or employees, it has got to get with the times. And the times? They are digital.
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A new era of solutions

Recapping last week's posts and tech progress this year

Solutions exist today that can help with a large majority of the business process shifts that will result from the rule. And the last year has provided an opportunity for them to solve things further.  


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