Non-Bank Servicing Share Forecasted to Grow
A growing share of the nation's residential loan servicing is expected to be handled by non-banks firms as regulatory scrutiny continues.
Major LOS Enhancements, Integrations
In addition to a host of integrations between various mortgage service providers and loan origination systems, major enhancements have been made to a major LOS.
Appraisers Wary of Freddie's Automated Appraisals
A plan by the Federal Home Loan Mortgage Corp. to abandon formal appraisals on some home-purchase transactions has appraisers up in arms.
Major Information Security Incident at OCC
The Office of the Comptroller of the Currency has reported to Congress a major incident involving thousands of controlled records.
Fannie Offers Immediate Repurchase Risk Relief
Through automated verifications, sellers of residential loans to the Federal National Mortgage Association can immediately avoid the risk of mortgage repurchases.
Mortgage Lenders Enhance Mobile Platforms
Recent advancements in mobile technology improve the application process, synchronize supporting documents and educate prospective borrowers.
Wholesalers Expand Programs, Improve Process
Wholesale lenders have recently added subprime and conventional programs. One wholesaler launched an income verification tool, while another added a broker platform.
Bigger Drop in Fraud Risk on Gov Apps than Conv
Last month, potential fraud on new residential loan applications was no different than in July. A decline in risk on conventional applications was exceeded by the decline on government transactions.