True Stories: Hybrid, eNote and RON Implementation

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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 harbor

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

Fraud risk factors at closing increased almost 90% last quarter

A variety of risk factors could be contributing to the drastic increase in wire and title fraud risk factors in mortgage and real estate closings – for example, compliance issues and an increase in transaction data errors.

Mortgage

Who stands to lose with 50bp GSE refinance fee?

Housing industry turns against Fannie, Freddie decision to add fee to refis

piggy bank and house HW+

Fannie Mae and Freddie Mac announced they will add a 50 basis points fee to all refinances starting Sept. 1.

“As a result of risk management and loss forecasting precipitated by COVID-19 related economic and market uncertainty, we are introducing a new Market Condition Credit Fee in Price,” Freddie Mac said in a bulletin.

The housing industry was quick to react. The Mortgage Bankers Association said this GSE refinance fee will hurt Americans during a time of crisis.

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