Solving the Post-Close Challenge with Intelligent Automation

Join our upcoming webinar as SoftWorks AI CEO and Avanze CEO explore the advances in tech that allow for greater levels of automation and cost reduction, especially in support of post-close and pre-fund review.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbo

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

How borrower education can make housing more attainable

The current housing market is making it difficult for prospective buyers to afford a home. Housing professionals need to find ways to better meet buyer needs.

Ginnie Mae adopts MISMO for loan data delivery

Ginnie Mae joined Fannie Mae and Freddie Mac by adopting the Mortgage Industry Standards Maintenance Organization’s Uniform Loan Delivery Dataset for moving mortgage information to the agencies, according to a memo from Ginnie sent Dec. 8. MISMO is a nonprofit subsidiary of the Mortgage Brokers Association that develops data transfer procedures. Ginnie guarantees the timely payment of principal and interest on federally insured loans to investors of mortgage-backed securities. In June, Fannie and Freddie published implementation guidance on loan data delivery requirements as part of an initiative to improve the quality of loans purchased from originators. With Ginnie joining that effort, all loans delivered to the government-sponsored enterprises must use the ULDD specifications effective Sept. 11, 2011. Data points are labeled either required, conditionally required (based on individual product or transaction parameters), or optional — items that will be implemented at a future date. “The mortgage finance industry supports the adoption of standards and common file formats, as they lead to higher quality data, less rework, and lower costs for all participants in the industry, including borrowers,” according to the memo. Write to Jon Prior.

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Mortgage forbearance drops to 4.36%, exits pick up steam

The downward trend of borrowers in forbearance picked up speed in the last week of April, falling 11 basis points to 4.36% of servicers’ portfolio volume.

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3d rendering of a row of luxury townhouses along a street

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