The CFPB takes aim at another mortgage insurer for paying alleged kickbacks to lenders in exchange for business referrals. The firm in question — Republic Mortgage Insurance Corp. — has faced a rough few years since falling under its regulator's supervision.
Old Republic International Corp. announced an ambitious recapitalization plan for its mortgage guaranty business, as the MI unit positions itself to re-enter the mortgage insurance market after years in flux.
Old Republic International [stock ORI][/stock] plans to combine its struggling mortgage guaranty and consumer credit insurance divisions under one entity, the company said.The Chicago-based insurance group...
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