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  • Wellsfargo_close-up

    Wells Fargo extends deadline to take part in $142 million fake account settlement

    LendingIn the Money

    Deadline was February 3, new deadline is July 7

    It’s been a busy day in the settlement department for Wells Fargo. Early Friday, the bank was fined $1 billion by the CFPB and the OCC for mortgage lending and auto insurance abuses. And late Friday afternoon, the bank notified customers that it is extending the deadline to participate in the bank’s $142 million fake account class action settlement.
  • LendingIn the Money

    Deadline was February 3, new deadline is July 7

    It’s been a busy day in the settlement department for Wells Fargo. Early Friday, the bank was fined $1 billion by the CFPB and the OCC for mortgage lending and auto insurance abuses. And late Friday afternoon, the bank notified customers that it is extending the deadline to participate in the bank’s $142 million fake account class action settlement.
  • Money_puzzle
    Real EstateIn the MoneyMultifamily

    RealPage continues growing, set to acquire ClickPay for $218 million

    Acquisition will be company’s fifth since 2017

    RealPage, a provider of software and data analytics to the real estate industry, went on quite the run of acquisitions last year, acquiring four different companies throughout the year. As it turns out, RealPage isn’t done yet. The company announced Friday that it is acquiring ClickPay, an electronic payment platform servicing 2.3 million units across the multifamily, HOA, condominium and co-op segments of real estate, in a $218 million deal.
  • Yellow-thought-bubble
    LendingTechnology

    Plaid in the Winner's Circle: Close loans faster, make more money

    A new podcast series from Editor-in-Chief Jacob Gaffney

    In the Winner’s Circle is a new podcast series from HousingWire Editor-in-Chief Jacob Gaffney. Jacob chats with executives about the innovations that are leading to successes in their businesses and within the mortgage industry. In this first episode, Jacob talks with Kate Adamson, head of mortgage at Plaid, a San Francisco-based fintech provider that has set its sights on the mortgage space.
  • Computer-hacker
    Lending

    SunTrust warns ex-employee may have stolen personal information of 1.5 million customers

    Bank offering identity theft protection to all customers

    SunTrust Bank may be the latest victim of a data breach, but the alleged intrusion didn’t come from outside the company. SunTrust announced Friday that a former employee may have stolen the personal information of approximately 1.5 million of the bank’s customers.
  • Wellsfargo_close-up
    Lending

    It’s official: CFPB announces $1 billion fine for Wells Fargo

    Demands it reimburse affected borrowers

    Rumors have been circulating, including the most recent report Thursday, that the Consumer Financial Protection Bureau is on the brink of hitting Wells Fargo with a $1 billion fine. Well now, the protection bureau announced exactly that. Here's more details on the bank’s fine.
  • Housetechnology
    LendingTechnology

    It’s a whole new ballgame: Takeaways from MBA Tech

    We're still in early innings

    [Op-ed] In this commentary, Michael Kolbrener, the chief technology officer for PromonTech, writes about the recent MBA Tech conference. "It was fitting that the Mortgage Bankers Association chose Detroit, the launch pad of Rocket Mortgage, as the site for this year’s Technology Solutions Conference & Expo. The “liftoff” of that disruptive, imagination-capturing product has been the catalyst for a new appreciation of what technology can do for lenders and borrowers," he writes.
  • Wellsfargobankphoto

    Report: Fed regulators to fine Wells Fargo $1 billion

    Penalty for megabank’s misbehavior in auto and mortgage markets

    A new report from the Washington Post says that both the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency are preparing to fine Wells Fargo about $1 billion for misbehavior in the automotive and mortgage markets. Citing two people familiar with the negotiations, the Washington Post reported that the settlement could be announced as soon as Friday.
  • Congress
    Servicing

    Waters introduces legislation to prevent FHA foreclosures

    Bill would strengthen FHA mortgage servicer requirements

    In an attempt to prevent foreclosures on the Federal Housing Administration’s borrowers, Democrats introduced a new bill in Congress. Democrats explained the new legislation would strengthen the requirements for and increase oversight of FHA mortgage servicers.
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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?”