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  • Cfpb

    CFPB considering ending public access to bank complaints

    Lending

    “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government," Mulvaney says

    A new report from the Wall Street Journal says the Trump administration is considering ending the public's access to a complaints database for financial companies. “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government,” Mulvaney told an audience at the American Bankers Association's conference while holding up a copy of the Dodd-Frank Act.
  • Lending

    “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government," Mulvaney says

    A new report from the Wall Street Journal says the Trump administration is considering ending the public's access to a complaints database for financial companies. “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government,” Mulvaney told an audience at the American Bankers Association's conference while holding up a copy of the Dodd-Frank Act.
  • Treasury
    Lending

    U.S. Treasury boasts deregulation reform accomplishments

    Says reducing unnecessary burdens will lead to economic growth

    Tuesday, the U.S. Department of the Treasury released a 21-page report entitled Regulatory Reform Accomplishments Under President Trump’s Executive Orders, which, as the title suggests, details the actions it has taken toward decreasing regulations.
  • Governmentbuilding
    Lending

    China Oceanwide’s $2.7 billion acquisition of Genworth Financial still on hold

    Deal still pending after 18 months

    It’s been 18 months since China Oceanwide Holdings Group, one of China’s largest companies, announced that it planned to buy Genworth Financial, one of the U.S.’s largest mortgage insurers, for $2.7 billion, but the deal still isn’t done yet. The deal was initially expected to close in the middle of last year, and now, the closing is delayed again.
  • Digital_concept_guy_city
    LendingTechnology

    Q&A: Tavant Technologies’ Atul Varsheneya on artificial intelligence and machine learning

    Tavant answers three big questions about AI and ML in mortgage lending

    During the Mortgage Bankers Association's recent Tech Solutions conference, HousingWire sat down with Tavant Technologies’ Atul Varsheneya to discuss the disruption that artificial intelligence and machine learning can cause in the lending and mortgage spaces. Varshneya works at Tavant as a vice president and leads the company’s artificial intelligence / machine learning (AIML) practice, which has a strong focus on its application in the areas of mortgage and lending. 
  • Computer-hacker
    Lending

    WEI Mortgage becomes latest victim of data breach

    Employee’s email account accessed via phishing scheme

    Virginia-based WEI Mortgage disclosed this week that is the victim of a data breach that may have exposed the highly sensitive personal information of the lender’s customers. WEI Mortgage, which is a subsidiary of Arc Home, revealed Monday that it discovered in September 2017 that one of its employees was the victim of a phishing scheme, which ultimately gained access to the employee’s account and perhaps other accounts.
  • House_tops
    LendingSponsored Content

    FHFA on credit score delivery: forgotten lessons

    Multiple versions of a credit model may lead to added cost and complexity

    Recently, FHFA posted a Request for Input asking for opinions concerning options for changing the delivery of credit scores to the GSEs, underwriters and investors. FHFA is considering various options to change the current system. Any such choice in the end is the outcome of a detailed cost-benefit analysis, but while FHFA acknowledges this, they fall short of providing the necessary framework for reaching an informed conclusion.
  • Construction1
    Lending

    Lenders: New home sales are picking up for the spring, are you ready?

    Here’s what to expect

    After seeing decreases since the beginning of 2018, new home sales reversed course and increased in March signaling a busy spring ahead for loan officers. For the first time in a decade, housing inventory remains above the 300,000 threshold for two straight months, and homebuyer demand isn’t diminishing.
  • Yellow-thought-bubble
    LendingServicingTechnology

    Carrington in the Winner's Circle: Why we launched a nonprime mortgage product

    A conversation with Rick Sharga

    Executive Vice President Rick Sharga is back at Carrington Mortgage Services. Here he joins Editor-in-Chief Jacob Gaffney for the podcast series In The Winner's Circle and explains why the new nonprime is nothing like the old subprime and how they plan to reach millions of Millennials and turn them into homeowners. Plus, Sharga shares his thoughts on automation in the real estate and mortgage lending spaces. Will Realtors one day be replaced by robots? Get those answers and more in the latest In The Winner's Circle podcast.
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This month in
HousingWire magazine

Cover Story
April 2018

The 2018 HW Tech100

This year’s HW Tech100 features a much more expansive landscape than ever before. Winners included heavy hitters and innovative disruptors. Even new tech players in the blockchain space are joining the party now. Other exciting developments can be seen on the identity-protection and fraud-prevention sides. But make no mistake, the name of the game in tech, these days, is lending, lending, lending.

Feature

How mortgage companies are capitalizing on their greatest asset: big data

Sarah Wheeler
Sarah Wheeler
 InvestmentsLending
The evolution from a paper-based process to this era of big data is astounding. Consider that according to IBM, 90% of the world’s data has been created in the last two years. The Internet of Things — your thermostat, refrigerator, even your kid’s Barbie doll — is increasing that data exponentially. For mortgage companies, that data represents a treasure trove more valuable than the gold bars stacked in the vault at the New York Federal Reserve Bank, but only if they can figure out how to harness it for their specific business. Fortunately, scores of fintech companies are ready to help.

Commentary

The pitfalls of depending on automation in post-close valuations

Mark Melikian
Mark Melikian
 Real Estate
Accurate, trustworthy valuations require taking a deeper look. That’s why it’s important to have a valuation expert independently review every valuation report and determine whether it makes sense. The most trustworthy valuation providers have a team of highly trained reviewers on staff who diligently analyze every comparable on a valuation report and ask: “Will a potential buyer consider this property similar to the subject property?”