The Money Source unveils new subservicing platform, redefines servicing technology

Includes real-time information
New York-based The Money Source recently launched a new subservicing solution, helping bring updated technology to an infamously antiquated industry. Ali Vafai, president of The Money Source, explained in an interview with HousingWire why servicing is behind in technology innovation and what The Money Source is doing about it.
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Mr. Cooper unveils digital mortgage plan

Tells investors that digital mortgage application is coming in 2018
In the last two years, a number of lenders announced plans to digitize their mortgage application process, following the lead of Quicken Loans, which rolled out its “Rocket Mortgage” in November 2015. Now, Mr. Cooper, the nonbank formerly known as Nationstar, is about to join the growing list of mortgage lenders that are going digital.
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Ocwen picks Black Knight to take over mortgage servicing operations

Shifts away from controversial proprietary REALServicing platform
Ocwen Financial is officially moving its mortgage servicing operations away from its proprietary REALServicing platform, which was at the center of the company’s recent regulatory troubles with more than 30 states and the Consumer Financial Protection Bureau. The winning bidder for Ocwen's servicing operations: Black Knight.
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Fannie, Freddie reveal one place being neglected by new mortgage tech

Servicing industry is ripe for disruption
Here in the nation’s capital, experts from Fannie Mae and Freddie Mac explained the mortgage industry still lags other industries in terms of tech innovation. Speaking Wednesday at an event hosted by CoreLogic and the Urban Institute, Fannie and Freddie's folks forecasted which part of the mortgage industry is ripe for disruption.
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Now entering phase 2: The updated digital mortgage

What defines a digital mortgage?
Coverage on digital mortgages moved from transforming the front end of the process to transforming the back end: Phase two. In this interview with HousingWire, Simon Moir, digital mortgage manager with eOriginal, explained where digital mortgages are headed next and what is needed to make eClosings more common.
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Monday Morning Cup of Coffee: What will Amazon's new HQ do to home prices?

Trump to announce new Fed chair this week
The deadline officially closed on applications to be the home of Amazon’s second headquarters. While the new headquarters is projected to create up to 50,000 new jobs, one negative side effect could be rising home prices for the city. Meanwhile, President Donald Trump is expected to announce next week who the much-anticipated Federal Reserve chair will be.
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Mortgage lenders: Here's your blockchain primer

One of the more exciting and misunderstood technologies today
[Expert Commentary] Blockchain is one of the more exciting – and often misunderstood – technologies being explored today. It offers the ability to record and track transactions in a decentralized database. Blockchain has the potential to change the game in the financial services industry by not only speeding up and providing complete visibility into financial transactions, but also significantly reducing costs.
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Fannie Mae: An update on Day 1 Certainty one year later

What we’ve learned and where we’re going
[Expert Commentary] Over the last year, more than 1,000 lenders signed up for one or more of Fannie Mae’s Day 1 Certainty services. Now, based on another year of listening and learning, Fannie Mae is building on the foundation laid last year with its new product offerings.
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DIMONT's Loss Drafts product expedites doc management for lenders and servicers

Borrower will be able to upload claim documentation to online portal
Loss Drafts allows all parties — borrowers, servicers, and DIMONT claims personnel — to upload claims-related documentation and to share case status information electronically, while allowing the servicer to use its call center to maintain direct borrower contact.
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