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Tag Archives: Attorneys & Title Companies

LoanLogics Unveils MERS Monitoring and Review Service

LoanLogics, a leader in loan quality management and performance analytics, announced the unveiling of its MERS Independent Third Party Performance Monitoring and Annual Review service. The specialty audit practice reviews and tests MERS controls and processes so servicers can ensure they are compliant with MERS regulations and avoid scrutiny.

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Buyer Competition Undeterred by October Shutdown

Despite a softening market, competition among buyers remained fairly fierce in October, Redfin reported in its Real-Time Bidding Wars release for the month. Last month, 55.9 percent of offers written by the brokerage's agents faced competition from other buyers, a decline from 58.3 percent in September. Bidding wars have been on a downward slope since peaking at 79 percent in February. Even with the decline, though, competition last month was higher than expected, given the effects of the government shutdown on consumer confidence.

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The Bright Side of Tight Credit

Though tightened underwriting standards have been partly to blame for why housing isn't recovering faster, CoreLogic's Sam Khater says the silver lining is that loan performance has improved greatly. "While there has been much consternation about underwriting being too tight in the context of forthcoming mortgage regulations, one underappreciated outcome has been the very good performance of mortgages during the last few years," Khater said in an article in CoreLogic's most recent Marketpulse report.

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CFPB Finalizes Rule on New Mortgage Disclosures

CFPB

The Consumer Financial Protection Bureau issued on Wednesday a rule requiring lenders to use its new mortgage disclosure templates designed to streamline and simplify information for consumers. The forms will replace the standard disclosures given at the opening and closing stages of a loan. Testing the new templates against the old, the CFPB found borrowers using the updated forms showed a better understanding of their loan, demonstrating a 29 percent improvement in comprehension.

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