Lead Management Lacking in Many LOS Systems
A survey of mortgage lenders indicates that loan origination systems are often lacking for the compliance and lead tools. But LOS providers have been busy integrating other services.
Class Action Seeks Billions From Wells Fargo
An attorney who has already won a more than $1 billion award in a malpractice case is now hoping to obtain a multi-billion-dollar award against Wells Fargo Bank, N.A.
Rule On Foreclosure Notices to No-Contact Borrowers
An interim final rule is intended to give mortgage servicers more flexibility about when they can communicate with borrowers who have requested no contact.
FHA Mortgagee Settles for Over $1 Million
A civil fraud lawsuit in New York alleging a mortgagee on government-insured loans failed to follow program rules has been settled for more than $1 million.
CFPB Issues Order Over RESPA Violations
A settlement agent out of Indiana will pay more than a million dollars as part of an order alleging that it steered business to an affiliated business without disclosing the affiliation.
Mortgage Compliance and Quality Control Help
One mortgage technology provider is helping lenders comply with upcoming changes on reporting requirements. Quality control is the focus of another service provider.
Risk of Ineligibility Up as Purchase Share Rises
The evolution from a refinance to a purchase market has raised the risk of defects. Government-insured mortgages are more at risk than conventional loans.
ECOA Rule Finalized
Proposed changes to the Equal Credit Opportunity Act that are intended to provide greater clarity for home lenders have been finalized.
Mortgage Conferences Cover Compliance, Technology
Topics to be covered at several upcoming mortgage-related events include compliance risk, housing risk and mortgage technology. One forum will tackle multifamily issues.
Varied Backgrounds for New Mortgage Executives
Executives who recently found new homes at mortgage banking firms come from a variety of backgrounds including financial compliance, information technology and subprime mortgage lending.