A report from Duff & Phelps, a global corporate valuation and financial advisory firm, refutes claims made in a lawsuit brought by a group of investors in Ocwen Financial Corp. that the mortgage servicer failed to properly collect payments on $82 billion of home loans.
So what are the top regulatory concerns on mortgage executives’ minds these days? According to QuestSoft’s 10th annual compliance survey, released earlier this month, the new reporting requirements under the Home Mortgage Disclosure Act (HMDA) are now the number one [Read More]
New Jersey Community Capital (NJCC), a nonprofit community development financial institution, is the winning bidder on Fannie Mae’s third Community Impact Pool of nonperforming loans (NPLs). Fannie Mae’s Community Impact pools are structured to attract diverse participation from non-profits, smaller [Read More]
Housing may be healing, but that doesn’t mean mortgage servicers can let up their guard in terms of foreclosure prevention efforts. Financial challenges remain for many homeowners around the U.S. For that reason, NeighborWorks America recently distributed nearly $40 million [Read More]
Mortgage rates increased slightly this week on news that the Federal Reserve is likely to decide to raise short-term rates in June, according to Freddie Mac’s Primary Mortgage Market Survey. During the week ended May 26, the average rate for [Read More]
The Office of the Comptroller of the Currency (OCC) has terminated its mortgage servicing-related order against Wells Fargo Bank, having found that the bank is now in full compliance with the order. To conclude the matter, Wells Fargo will pay [Read More]
The mortgage delinquency rate increased to 4.24% of all homes with a mortgage in April – an increase of 3.77% compared with March but a decrease of 10.33% compared with April 2015, according to Black Knight Financial Services’ First Look [Read More]
Open Mortgage is the latest lender to sign up for ReverseVision‘s RV Exchange (RVX) loan origination software. The Texas-based mortgage lender recently launched a reverse mortgage wholesale operation. RVX serves as a centralized exchange, connecting all participants in the lifecycle [Read More]
PERSON OF THE WEEK: Michael Ball is vice president of markets and strategy for Integrated Media Management (IMM), a provider of e-signature and automated transaction technology. MortgageOrb recently interviewed Ball to learn more about how mortgage lenders can differentiate themselves [Read More]
BLOG VIEW: There are lots of great reasons for mortgage lenders to adopt the e-mortgage, but one huge benefit that sometimes gets overlooked is the tremendous savings on paper. According to recent research conducted by e-signature technology firm SIGNiX, a [Read More]
It may be that TRID’s apparently negative impact on the bottom line is less certain than initial numbers suggest.
PERSON OF THE WEEK: Kapil Dhakad is vice president of IndiSoft, a provider of software and integration services to the mortgage industry.