The sales are an attempt by HUD to stem losses from its Mutual Mortgage Insurance fund, while providing an alternative for distressed borrowers that are on the brink of foreclosure. Even though investors did not meet the reserve requirements, the agency will carry on with business as usual.
First, the Department of Housing and Urban Development told the housing industry it would not be able to endorse single-family loans if the government shuts down. Then, the agency quietly corrected the statement over the weekend, saying, yes it can.
Wow! That was our reaction to the response we received for this year’s HW TECH100 call for nominations. This year, more than 250 companies submitted a nomination, and we’re grateful for the interest in our efforts with this unique program..
In the tech world a “stack” refers to all the elements of something. For the mortgage industry, the idea of the single stack is that one platform (digital, automated and based in the cloud) can either meet all of the functional requirements involved in assembling a mortgage, or can serve as an efficient moderator for the process via open APIs (application programming interface), which are now taking off within the mortgage industry. Read More
Nothing reeks of hypocrisy more than the regulator ignoring regulations, but the CFPB has racked up plenty of violations in the last year. And we’re not talking about small, nitpicky examples, but instances that have real-life consequences. If a lender or servicer were to violate any of these standards, they could expect swift and harsh punishment from the CFPB. Read More