Mortgage brokers: Update your stump speech on mortgage lending, Mr. President

Mortgage brokers: Update your stump speech on mortgage lending, Mr. President

NAMB says mortgage brokers have been at forefront of reform

Monday Morning Cup of Coffee: Spring turnaround, or spring-loaded trap?

The direction of housing and mortgage finance could turn this week

Move lawsuit against Zillow clears contempt hurdle with settlement

Move declares "full steam ahead" in prosecution
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March 2015

From HW Magazine

The 2015 HW TECH100

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.
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From HW Magazine

Single stack

Mortgage lending — finally — gets smarter with digital, automated and cloud-based technology
Kerry Curry
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.
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From HW Magazine

Company Spotlight: ComplianceEase

John Vong explains why "the devil is in the details"
When lenders have to justify and document every decision, it really raises the bar for compliance. Those that are still trying to handle compliance manually or by using multiple, disparate systems as a work-around are going to find it difficult to meet new requirements. The CFPB’s new TILA-RESPA Integrated Disclosure (TRID) rule will only exacerbate this situation, according to Vong.
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From HW Magazine

Fannie Mae's Collateral Underwriter gets a mixed reaction

Appraisers and AMCs weigh in
Fannie Mae released its Collateral Underwriter program to lenders in January, and the industry reaction has been varied and intense.
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From HW Magazine

What really happened at LandCastle Title?

Missing money from escrow accounts starts a landslide of accusations
Johnson’s lawsuit states that while Hardwick was attempting to secure those loans, the Wittstadts entered into secret negotiations with Fidelity National Financial to bail out the firm “in order to prevent a disastrous national impact on the housing market should the escrow account misappropriations become public before the Wittstadts could cover everything up.”
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From HW Magazine

Hot Seat: Darius Bozorgi

President and CEO of Veros discusses the latest in automation
Sarah Wheeler
The recently announced FHA premium reductions would lead one to reasonably anticipate an increase in volume. EAD will give FHA 100% diligence on all submitted appraisals, which allows FHA to engage in these types of policies, knowing it has the systems and tools in place to identify and manage risk.
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From HW Magazine

Big banks, big returns?

Some of the nation's largest financial institutions offer better deals at low risk
The real no-brainer, however, is to look at how the bank performed in the last downturn. Invest in one that not only didn’t need a bailout but one that didn’t take major risks for the sake of short-term versus long-term gains.
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From HW Magazine

Ellie Mae: Integrating compliance

Delivering automated efficiencies helps lenders anticipate regulatory changes
Ellie Mae understands the value of anticipating regulatory changes, instead of only reacting to them. Several company representatives sit on industry and regulatory panels and are part of the process when many new rules and regulations are formed. Ellie Mae is closely involved with the Mortgage Bankers Association, the Consumer Financial Protection Bureau and the Mortgage Industry Standards Maintenance Organization.
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From HW Magazine

The CFPB needs a regulator of its own

Why is it OK for the bureau to violate the standards it imposes on others?
Sarah Wheeler
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.
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From HW Magazine

How to rise above an industry shift

Lenders only need to take a small step toward evolving for the new marketplace
Mark McElroy
We’re only months away from two new forms that will radically change processes and liability in this industry. Any day now, a new generation of homebuyers will start knocking on digital doors of opportunity that will expose every limitation of current business operations. And with all of the technology advances of our time, all we end up with is just a more complicated, expensive version of the “way things have always been done.”
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