Lending

Lending
News and information related to retail lending, wholesale and correspondent, and mortgage origination. General economic trends get worked in here, too; GDP, jobs, apps, rates.

ARTICLES

  • CFPB considering ending public access to bank complaints

    “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government," Mulvaney says
    A new report from the Wall Street Journal says the Trump administration is considering ending the public's access to a complaints database for financial companies. “I don’t see anything in here that says I have to run a Yelp for financial services sponsored by the federal government,” Mulvaney told an audience at the American Bankers Association's conference while holding up a copy of the Dodd-Frank Act.
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  • U.S. Treasury boasts deregulation reform accomplishments

    Says reducing unnecessary burdens will lead to economic growth
    Tuesday, the U.S. Department of the Treasury released a 21-page report entitled Regulatory Reform Accomplishments Under President Trump’s Executive Orders, which, as the title suggests, details the actions it has taken toward decreasing regulations.
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  • China Oceanwide’s $2.7 billion acquisition of Genworth Financial still on hold

    Deal still pending after 18 months
    It’s been 18 months since China Oceanwide Holdings Group, one of China’s largest companies, announced that it planned to buy Genworth Financial, one of the U.S.’s largest mortgage insurers, for $2.7 billion, but the deal still isn’t done yet. The deal was initially expected to close in the middle of last year, and now, the closing is delayed again.
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  • Q&A: Tavant Technologies’ Atul Varsheneya on artificial intelligence and machine learning

    Tavant answers three big questions about AI and ML in mortgage lending
    During the Mortgage Bankers Association's recent Tech Solutions conference, HousingWire sat down with Tavant Technologies’ Atul Varsheneya to discuss the disruption that artificial intelligence and machine learning can cause in the lending and mortgage spaces. Varshneya works at Tavant as a vice president and leads the company’s artificial intelligence / machine learning (AIML) practice, which has a strong focus on its application in the areas of mortgage and lending. 
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    FICO

    FHFA on credit score delivery: forgotten lessons

    Multiple versions of a credit model may lead to added cost and complexity
    Recently, FHFA posted a Request for Input asking for opinions concerning options for changing the delivery of credit scores to the GSEs, underwriters and investors. FHFA is considering various options to change the current system. Any such choice in the end is the outcome of a detailed cost-benefit analysis, but while FHFA acknowledges this, they fall short of providing the necessary framework for reaching an informed conclusion.
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  • WEI Mortgage becomes latest victim of data breach

    Employee’s email account accessed via phishing scheme
    Virginia-based WEI Mortgage disclosed this week that is the victim of a data breach that may have exposed the highly sensitive personal information of the lender’s customers. WEI Mortgage, which is a subsidiary of Arc Home, revealed Monday that it discovered in September 2017 that one of its employees was the victim of a phishing scheme, which ultimately gained access to the employee’s account and perhaps other accounts.
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  • LendingTree reveals the cities with the highest rates of denied mortgage applications

    Here are the leading reasons for denials
    [Expert commentary] As the spring selling market heats up, buyers continue to face increasing odds against finding their dream homes. Inventory is low, demand is high and rates have been steadily creeping upwards for months. These factors are only complicating what can already be an arduous experience for would-be homebuyers hoping to get approved for a mortgage. In a new study analyzing more than 10 million mortgage application records, LendingTree found nearly one out of every 10 mortgage applicants, or 8%, is denied at the national level.
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  • Carrington in the Winner's Circle: Why we launched a nonprime mortgage product

    A conversation with Rick Sharga
    Executive Vice President Rick Sharga is back at Carrington Mortgage Services. Here he joins Editor-in-Chief Jacob Gaffney for the podcast series In The Winner's Circle and explains why the new nonprime is nothing like the old subprime and how they plan to reach millions of Millennials and turn them into homeowners. Plus, Sharga shares his thoughts on automation in the real estate and mortgage lending spaces. Will Realtors one day be replaced by robots? Get those answers and more in the latest In The Winner's Circle podcast.
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  • Ventanex launches PaymentIQ smart exception processing for consumer lenders

    Solution streamlines resolution, tracking of bankruptcy checks, payoffs, money orders, rejected items
    Smart transaction technology company and HW Tech100 winner Ventanex has launched PaymentIQ, a new solution that powers auto-posting and smart workflow of exception items. By enabling the application of processing methodology to cash services, PaymentIQ eliminates much of the manual work needed to correctly route, process and post exception items, the company said.
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Paulina Gonzalez

Paulina Gonzalez

Paulina Gonzalez is the executive director of the California Reinvestment Coalition, which advocates for the right of low-income communities and communities of color to have fair and equal access to banking and other financial services. CRC has a membership of over 300 nonprofit organizations and public agencies across the State. Follow her on Twitter @calreinvest