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REwired

What is the most likely outcome for the CFPB?

HousingWire webinar panelists answer
As the confusion and uncertainty around the Consumer Financial Protection Bureau continues to escalate with each passing day, HousingWire gathered three expert panelists to weigh in on the discussion. The panelists gave their insights on what are the most likely steps forward for the government and bureau. Will the bureau even be around in 2018?
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Dear lenders, we need more young talent in mortgage finance

How does the industry make mortgages cool?
Lenders and vendors of the tech world filled the expo hall at the Hyatt Regency in downtown Chicago for the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference and Expo. But there was one element that was clearly lacking after scanning the room of attendees: young mortgage professionals. How does the industry fix this?
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Here's what's wrong with the CFPB's practice of regulating through enforcement

Companies are punished just to teach the rest of the industry a lesson
CFPB Director Richard Cordray asserts that protecting consumers in financial matters involves too many bad actors trying to do too many bad things to be outlined in specific laws. As it turns out, it sounds like the CFPB might decide to take enforcement action against one particular company if they need to “send a public message of deterrence” to the whole industry. This is ludicrous.
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Meet today's driving force behind homeownership rates: Hispanics

This demographic accounts for 75% of recent homeownership growth
Industry professionals gathered to talk about the state of Hispanic homeownership in the U.S. at the National Association of Hispanic Real Estate Professionals’ 2017 policy conference. As it turns out, Hispanics are currently the driving force in today’s homeownership rate.
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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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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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