Taking a page from the PHH Mortgage regulatory defense playbook, mortgage servicer Ocwen Financial Corp. is seeking to have a complaint from the Consumer Financial Protection Bureau (CFPB) tossed on the grounds that the CFPB’s leadership structure is unconstitutional. Ocwen [Read More]
Why blockchain technology will be the next big thing for the mortgage industry.
PERSON OF THE WEEK: Although most mortgage lenders use “best of breed” or “out of the box” loan origination systems (LOS) from the top vendors, there are still plenty out there that have developed – and that continue to support [Read More]
Numerous states also bringing their own separate suits; mortgage servicer says suit is ‘overreach’ and ‘politically motivated’
Impac Mortgage Holdings Inc. has raised $56.0 million by selling shares of its common stock in a registered direct offering to certain purchasers, the lender reports. Joseph Tomkinson, chairman and CEO of Impac Mortgage Holdings, says the company will use [Read More]
As is to be expected with any regulatory change, there has been some confusion and uncertainty surrounding these new rules.
BLOG VIEW: When was the last time you used a fax machine? Can’t remember? Neither can I. Yet the other day, I found myself speaking with a company that could only take my order if I sent it via an [Read More]
The Consumer Financial Protection Bureau (CFPB) has issued a set of clarifications to its 2015 Home Mortgage Disclosure Act (HMDA) rule and is requesting feedback on the proposed changes. The changes reflect “the bureau’s ongoing and substantive engagement with stakeholders [Read More]
Accenture has acquired BeesPath’s ClosingBridge platform, which facilitates simple, secure communications and file exchange for real estate finance transactions. This will extend Mortgage Cadence’s loan origination functionality to include a communications platform that securely connects mortgage lenders with title and [Read More]
In the quest to deliver a high-tech borrower experience, lenders may inadvertently isolate high-value borrowers who prefer physical interaction.
The new division has been established in response to changing consumer expectations.
BLOG VIEW: Today more than ever, organizations of all kinds are competing to stand out among their competitors. With the never-ending marketing noise, it is almost impossible to successfully market to consumers without a solid strategy, and mortgage lenders are [Read More]
Rising home prices significantly decreased the number of underwater borrowers and boosted the amount of “tappable” equity that they have in their homes in 2016, according to Black Knight Financial Services’ Mortgage Monitor report. As of the end of the [Read More]
PERSON OF THE WEEK: Bob Jennings is CEO of ClosingCorp, a provider of residential real estate closing cost data and technology. MortgageOrb recently interviewed Jennings to learn more about where mortgage compliance is headed in 2017 and how automation is [Read More]
This is down from 14% in 2015, due primarily to increased risk.
Pending home sales jumped 5.5% in February to reach the highest level in nearly a year and the second-highest level in over a decade, according to the National Association of Realtors (NAR). The jump resulted in a score of 112.3 on [Read More]
Mortgage servicer Ocwen Financial Corp. reports that it has entered into an agreement with the New York State Department of Financial Services (NYDFS) that paves the way for the firm to start buying and trading mortgage servicing rights (MSRs) in [Read More]
PERSON OF THE WEEK: The Trump administration’s executive order requiring federal regulatory bodies to eliminate two existing regulations for every new one they enact is just one of many actions that have created regulatory uncertainty for mortgage lenders and servicers. [Read More]
Release 2 of the Common Securitization Platform is now planned for the second quarter of 2019, the FHFA says
Low supply in the affordable price range continues to be the “pest” that’s pushing home prices