twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Mortgage Compliance News | Mortgage Compliance Newsletter | Mortgage Regulations
News about complying with mortgage laws, rules and regulations.

The QM Support Kit

Recent QM service offerings

Feb. 18, 2014

By SAM GARCIA Mortgage Daily

portrait of Sam Garcia

A host of service providers have developed offerings that help mortgage firms successfully navigate the Qualified Mortgage and Ability-To-Repay rules.

Compliance tools for Consumer Financial Protection Bureau requirements have been built into Mortech Inc.'s Marksman product and pricing engine, a news release last month said.

The Marksman Compliance Suite provides compliance checks for Annual Percentage Rates and Average Prime Offer Rates. It also addresses debt-to-income ratios, lender fees and points calculation, and non-QM due to risk.

Control Solutions International hopes to help small and mid-sized mortgage bankers, brokers and servicers comply with an array of CFPB rules, according to a Feb. 5 announcement. The Worburn, Mass.-based company is sponsoring a free Mortgage Compliance Newsletter at Mortgage Daily to address QM concerns and other compliance issues.

OpenClose said last week that the functionality needed to adhere to QM and Ability-to-Repay rules has been implemented within one of its client's loan origination system.

At the point of sale, loan originators choose a product on the loan application and click a QM button. A decision is returned to the originator about whether the loan is QM-qualified.

Colleen Thingelstad, director of real estate lending at Horizon Credit Union, was quoted in the announcement as saying that OpenClose's QM feature "has made our jobs incredibly easy" and noted that it "automatically does everything for us." OpenClose is online at

LoanScoreCard touted Envoy Mortgage's correspondent division as a new client earlier this month. The Irvine, Calif., service provider said that more than 175,000 QM Findings Reports have been generated since its QM product hit the market in August 2013.

LoanScoreCard's website address is

A month earlier, LoanScoreCard reported that Freedom Mortgage's wholesale division has become QM-ready thanks to its quantifiable Findings Reports that determine whether a file is a QM.

Nationwide Title Clearing Inc. predicts that the new QM guidelines will help standardize the industry.

"The new rules are likely to regiment the industry, so there will be fewer differences between mortgages offered by different lenders, thereby intensifying the competition and making compliance of the utmost importance," Nationwide Chief Executive Officer John Hillman said in a news release.

A QM report from CoreLogic Inc. said that setting rules and boundaries for residential loans is one of the first steps in encouraging more private capital investment in the U.S. housing finance system. Although investor appetite for credit risk and litigation during the QM era has yet to be determined, investor trust is expected to be developed over time.

Sam Garcia founded Mortgage Daily in 1998 and became its full-time publisher in 2000. Prior to his news career he worked in mortgage lending for two decades.

[email protected]

Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.
Mortgage Technology news
Technology news for originators, executives and servicers. Coverage of LOS systems, loan product and p r i c i n g engines and other technology offered to the mortgage industry.

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders