Daily Dose

While nearly everyone was expecting weak GDP growth for the first quarter, the advance estimate reported weaker growth than what was expected.

After many years of slowly adopting new technology, increased regulatory scrutiny is forcing the hand of the mortgage industry; and organizations are trying catch up at breakneck pace. This 5-step method gives lenders a map toward EAD implementation. Editor's note: This select print feature appears in the April 2016 edition of MReport magazine, available now.

A coalition consisting of more than 160 labor unions, civil rights groups, and other advocates has written a letter to CFPB Director Richard Cordray calling for the Bureau to go take its proposed rule to ban arbitration clauses that prevent consumers from bringing class-action lawsuits even further.

Ernst Publishing Company, a provider of technology and closing cost data for the real estate and home finance industries for the past 27 years, announced Cisco Gonzalez as Director of the Project Management Office. In his new position, Gonzalez will manage project management company-wide.

StreetLinks Lender Solutions, a unit of Assurant Mortgage Solutions, recently hired Charles Szabo as VP of Operations and Quality Control. StreetLinks also appointed Samir Agarwal as Director of Vendor Administration.

Assurant Field Asset Services, a unit of Assurant Mortgage Solutions, appointed Warner Mizell as VP of Supply Chain Operations.

Recognizing the “operational challenges” the industry is experiencing with TRID, Cordray said in a letter that the Bureau is considering making some “adjustments” in the regulation text to provide greater certainty and clarity.

Mortgage rates and applications had been on a continuous trend of low rates and high applications, but they have now changed course and are heading in an opposite direction.

Tailored credit report and score counseling services are an effective way to reach consumers and improve their credit score, which can ultimately help them obtain a mortgage.

For awhile, loan defects had settled down in the mortgage industry, but they appear to be making their way back into the market due to heightened risk from government loans.