Items Tagged with 'underwriter'


  • Pen pals with your mortgage lender? Yeah, it's a thing

    Life is complicated. When underwriters have questions, they might reach out to you
    Did you know that underwriters often reach out to borrowers via letter? According to a piece in the Wall Street Journal, borrowers shouldn’t be surprised if they are asked to provide a letter of explanation or “comfort letter” to underwriters who are curious about mushy spots in their knowledge of the borrowers’ situations.
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  • Oakleaf Group goes on underwriter hiring spree

    Looks to hire a 100 within a month
    The current hiring atmosphere in the mortgage market is certainly a volatile one. Many mortgage lenders and servicers are cutting staff here and there, moving around personnel, etc. in order to keep up with the shifting sands of this rising interest-rate environment and greater innovations in automated lending services. However, many more companies are hiring. Here's the story of one.
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  • Wells Fargo preps for non-QM loans

    Creates army of underwriters
    Wells Fargo assigned roughly 400 underwriters to the task of originating non-QM loans as the market shifts in the face of new regulations. This way the mega bank can increase lending without losing control of quality.
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  • Estimating title insurance just isn’t good enough

    With the Real Estate Settlement Procedures Act and Dodd-Frank, the mortgage industry should probably consider renaming the good faith estimate to something like a guaranteed fee certificate. That might mean scores of data vendors offering to complete fee quotes for their area of expertise on the GFE would need to seriously evaluate their willingness to guarantee the data they deliver.
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  • FICO Scores 101 Launches

    The financial climate born of the recent credit crisis shines particular emphasis on the consideration of credit as a critical component for both lenders and consumers, as well as the need for tools to teach the ins-and-outs of credit. AllRegs, a publisher of industry guidelines, and analytics technology provider, FICO, released Thursday a new online course designed to do just that:  teach credit decision makers the fundamentals of FICO scores.
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  • Lawsuit Links Bad Underwriting, Investor Loss at IndyMac

    A class-action lawsuit alleges IndyMac Federal Bank failed to meet its own underwriting guidelines on certain securitized mortgage loans. The suit points toward substantially higher rates of delinquencies and foreclosures on collateral for these highly-rated debt issues. As a result of the collateral's poorer-than-estimated performance, the complaint says, underwriter rating agencies had to downgrade a number of pass-through certificates, forcing a substantial decline in their value and loss to investors who purchased the certificates.
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  • Solidifi Secures Insurance Assurance

    Solidifi completed an additional equity investment with Altus Group Income Fund; the additional capital will be used to expand the independent appraiser's service offerings, including the development of replacement cost and risk analytics for property insurance companies.
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