The Wrap: Appraisal volume ticks down after two weeks up

The Wrap: Appraisal volume ticks down after two weeks up

New tips, tools and tricks of the trade

Dear Parents, don’t expect your homebuying Millennials to pay you back

loanDepot graph shows they can barely save for retirement

Trending Thursday: Banks make more on mortgages while government steals GSE profits?

Yale legal scholars on #FannieGate
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HW Magazine

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September 2015

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From HW Magazine

Freddie Mac rising

With Donald Layton at the helm, Freddie Mac surges into new territory
Layton has over 35 years of experience in financial services and as a corporate leader. He worked for nearly 30 years at JPMorgan Chase and its predecessors, starting as a trainee and rising to vice chairman and member of the three-person Office of the Chairman, retiring in 2004.
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Feature Stories

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From HW Magazine

What the Supreme Court's disparate impact ruling means for lenders

Lower courts have to work out specifics
"The questions become, ‘Do the courts find a distinction between housing policy and lending, as in whether to make a loan and how you price that loan? Does the government get broader discretion than the private sector?’ ” Andreano said. “It’s not fleshed out.”
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From HW Magazine

Hot Seat: Jay Hughes of MGIC

Ensuring sustainable homeownership
As would be the case with any generation of new potential homeowners, there is a need for education. In the case of the Millennials, there is an added element of unwinding some of the perceptions that were born out of the bubble era.
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From HW Magazine

Company Spotlight: Auction.com

Meeting the growing demand for mobile transactions
“Within our competitive environment, we have a pretty significant lead in terms of our technology deployment,” Sharga said. “Our partnership with Google has been very helpful to our product and engineering teams, which are tapping into Google’s expertise for mobile development and SEO optimization."
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From HW Magazine

Mortgage technology product showcase: Aspen iProperty

Aspen Grove Solutions provides advanced business and audit technology
Aspen iProperty’s reporting functions provide the ability to perform audits and view uploaded documentation from vendors, to ensure that all work performed not only meets regulatory guidelines, but also fulfills contractual obligations to the business.
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From HW Magazine

Mortgage technology product showcase: Active Insight

Black Knight's hosted data integration platform generates innovative views
Active Insight is powered by the Black Knight Data Hub, which enables clients to access all of their loan data on Black Knight systems, such as Black Knight MSP, Empower, and LoanSphere applications, from a central repository.
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From HW Magazine

Mortgage technology product showcase: Funding Suite

Cogent Road's next generation credit reporting agency
Creating new solutions that make the operational challenges of purchasing and analyzing credit services easier, more efficient and at lower cost is part of Cogent Road’s DNA. DiPaolo and Alan Baia, the company’s founders, share an office and spend the majority of their workweek conceiving new software functionality and designing systems.
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From HW Magazine

Mortgage technology product showcase: ConformX

DocuTech provides innovative dynamic document technology
ConformX gives lenders confidence that the final loan product is compliant, since it incorporates automated system defaults and rules-based data population. This automation reduces the possibility of human error in the loan process and also prevents data modification outside of the LOS, since the data is imported directly from the LOS.
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From HW Magazine

Mortgage technology product showcase: Encompass Product & Pricing Service

Ellie Mae offers a feature-rich automated solution
Using the service also increases users’ bottom line. In fact, a recent MarketWise Advisors ROI study showed that users saw as much as $970 of added value per loan with Encompass. This came about through improved compliance, loan quality and efficiency when using the integrated products and services within the full Ellie Mae suite.
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From HW Magazine

Mortgage technology product showcase: DataTree

First American delivers data quality, speed and ease of use
In a first for users outside of title underwriting, DataTree gives users direct access to title plants, making it easier to validate a property’s chain of title. And the company’s Integrated Search merges map, address, owner and APN into one search solution so professionals can search multiple properties at once.
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From HW Magazine

Mortgage technology product showcase: eTrac Enterprise

Global DMS appraisal workflow engine built into Enterprise platform
eTrac Enterprise is a 100% web-based, single-source valuation management platform that centralizes and compliantly automates all aspects of the appraisal process: vendor management, orders, assignments, tracking, accounting, delivery, reviews and sells.
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From HW Magazine

Mortgage technology product showcase: Loan HD Enterprise

LoanLogics loan quality and performance analytics platform
The platform incorporates unique innovations to verify and validate loan file data from accurate pricing and eligibility, through the classification and data extraction of submitted loan documents, audit rules automation and structured audit workflows, to servicing on-boarding and loan performance analytics.
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From HW Magazine

Mortgage technology product showcase: Path Software

Crafted workflows with role-based functionality
The structure of the software eliminates the need for outside systems for the front and back end and provides data integrity by requiring loan data to match the lock data.
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From HW Magazine

Mortgage technology product showcase: Closing Insight

RealEC Technologies solution meets CFPB collaboration requirements
Closing Insight allows both lenders and settlement agents to efficiently collaborate on documents and fees to meet the new timeline requirements and enable an automated collaborative disclosure workflow between lenders and agents.
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From HW Magazine

Mortgage technology product showcase: Roostify

Silicon-Valley start up simplifies the mortgage application process
The Roostify platform allows everyone involved in the transaction to see exactly where the paperwork is in the pipeline and who the point person is for moving it along that phase of the chain.
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From HW Magazine

Mortgage technology product showcase: ClosingStream

ServiceLink delivers a seamless closing experience
The ClosingStream solution not only gives consumers the mortgage borrowing experience they want, but it creates efficiencies for the lender. By following ClosingStream’s online delivery and acknowledgement solution, lenders can save up to four days over mail-away disclosure processes.
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From HW Magazine

Mortgage technology product showcase: Sapphire and Pathway

Veros enables easy appraisal submission to the secondary market
Additionally, customers utilizing Sapphire or Pathway solutions — before delivering to these portals — have the ability to utilize a number of automated quality control tools including automated QC order and review rules and upfront appraisal scoring by VeroSCORE to provide a determination of appraisal risk.
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Commentary

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From HW Magazine

Why 97% LTV mortgages are good for housing

With the right lending recipe, these loans can beat default rates of other loan types
By imposing just one compensating factor, in this case higher FICO score, the risk of a 97% LTV loan can be modulated to be at or below that of a 95% LTV loan.
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From HW Magazine

Maximizing the TRID deadline extension

Take advantage of the extra time to shore up safety nets
As the industry counts down the final weeks and days until TRID goes into effect, any loose ends should be wrapped up, uncertainties resolved and contingency plans finalized and approved. With a solid infrastructure and strong partnerships in place, institutions at every level can perform well within the constructs of the new TRID requirements.
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From HW Magazine

Revealing g-fee costs to homebuyers

Turnabout is fair play when it comes to transparency
If consumers are confused by the difference between their interest rate and an APR — which is what the CFPB found in their surveys — it’s a safe bet that these same consumers have absolutely no idea what a guarantee fee is.
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