Service Providers Help Financial Institutions Originate
Several mortgage service providers are offering financial services firms help originating home loans, and many are targeting banks and credit unions.
LOS Providers Focus on Compliance
Loan origination system service providers have been recently busy making enhancements to their offerings that help originators maintain compliance with a host of rules, regulations and requirements. In other LOS activity, a wholesaler has implemented a new system for the benefit of its broker clients.
Mortgage Fee Splitting Costs Connecticut Company
A mortgage banking firm in the Northeast was hit with an order and fine for sharing fees with a hedge fund. But the actions could have been more severe had the lender not been so open about its actions.
CFPB Official Blasts Servicers
Attendees at a mortgage servicing conference this week might have gotten more than they bargained for when the Consumer Financial Protection Bureau's No. 2 stepped up to the podium.
The QM Support Kit
A host of service providers have developed offerings that help mortgage firms successfully navigate the Qualified Mortgage and Ability-To-Repay rules.
Complying With Appraisal Requirements
New appraisal requirements are being met with a flurry of services that offer help complying. Other resources being promoted promise to improve additional aspects of home valuations.
Big Servicing Conference Next Week
While mortgage servicing is the topic many conference goers will be discussing next week, other topics will be up for discussion at subsequent events.
HMDA Reporting Changes Being Considered
Additional data requirements being considered for Home Mortgage Disclosure Act reporting could make it easier to identify cases of disparate impact. The addition of Qualified Mortgage status to HMDA reporting could shed a light on the impact of QM. Changes that would streamline HMDA reporting are also on the table.
Whistleblower Leads to Chase Settlement on Gov Loans
Allegations made by a whistleblower on government mortgages have ended in a large settlement with JPMorgan Chase & Co.
CFPB Touts Actions Against Mortgage Servicers
A new report from the Consumer Financial Protection Bureau rehashes previously announced actions against servicers of home loans and touts other regulatory activity last year.