Lending

Philadelphia considering new law designed to limit reverse mortgage foreclosures

Bill addresses “unscrupulous practices” from some reverse mortgage lenders
The city of Philadelphia is set to consider new legislation that would “prevent the spread of reverse mortgage foreclosures” in the city by “closing a loophole” in the city’s laws that some lenders allegedly exploit to foreclose on reverse mortgage borrowers.
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Top mortgage lenders see originations drop in 2017

But three top lenders see increase in growth
Data from IMF revealed many of the nation’s top lenders saw a decrease in origination volume from 2016 to 2017. Out of the top 13 lenders, listed by origination volume from both retail and wholesale, only three saw an increase in their origination volume from 2016 to 2017.
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Nationwide Title Clearing promotes Debbie Lastoria to VP of national sales

Former HousingWire Magazine Women of Influence honoree
Nationwide Title Clearing, a post-closing services provider for financial institutions, investors and servicers, announced this week that it promoted Debbie Lastoria to the position of vice president of national sales. While previously serving as NTC’s VP of business development, Lastoria was honored as one of HousingWire Magazine’s Women of Influence in 2015.
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Paul Manafort now facing raft of bank, mortgage fraud charges

Investigation leads to more charges against former Trump campaign manager
Paul Manafort, who served as President Donald Trump’s campaign manager for five months in 2016, is now facing a number of bank and mortgage fraud charges as DOJ special counsel Robert Mueller’s investigation digs deeper into Manafort’s past. From the indictment: “Manafort and Gates fraudulently secured more than twenty million dollars in loans by falsely inflating Manafort’s and his company’s income and by failing to disclose existing debt in order to qualify for the loans.”
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Calyx Software launches borrower loan interview solution Zip

Prospective borrowers can interview online or via a mobile phone device
On Thursday, mortgage software solution provider Calyx Software announced the launch of Zip, a new loan interview platform for loan originators to use with prospective borrowers. Calyx explains that Zip was developed with “today’s borrower in mind,” and allows LOs to interview prospective borrowers via a custom, branded URL.
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Equifax upgrades its digital security system

Announces partnership with Entersekt
Equifax announced Thursday it is creating some changes to its digital security system through its new integration with Entersekt, a push-based authentication and mobile app security company. Here’s everything you need to know about the new partnership.
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