Tag Archives: Compliance

While the Consumer Financial Protection Bureau (CFPB) touts its recently enacted mortgage regulations as a "back-to-basics approach" to lending, not everyone agrees. Speaking on "Mortgage Markets Today," Chris Whalen, EVP and managing director for Carrington Holding Company, discussed the pitfalls in the new regulations with Louis Amaya, host of the Five Star Internet radio show and CEO of iServe Companies. Among other things, Whalen predicts politicians and regulators will see pressure to review the rules, which he says have gone too far.

Mark your calendar: Platinum Data Solutions announced it is hosting a webinar in February intended to cover all topics related to automated valuation models (AVMs) and compliance.

LendingQB, a California-based loan origination software (LOS) provider, has unveiled its Lean Lending model designed to reduced origination costs by as much as half.

With mere hours to go before major regulatory changes sweep the industry, servicers might be wise in taking one more look at how the new rules will affect them and what they can do to stay ahead.

While most larger servicing shops have made a great deal of progress ahead of Friday's new industry regulations, a report from Fitch finds smaller companies still have a number of challenges to meet. Fitch acknowledges that many independent and non-bank servicers have adapted to the technological advances made in the industry, but compliance with the new rules will mean more recordkeeping and infrastructure improvements that could mean higher costs for these smaller firms.

As new regulations go into effect and a new mortgage market takes shape this year, lenders and originators must reconsider current relationships and look for partnerships that synch with their priorities, according to Hammerhouse Strategic Growth Partners. Hammerhouse has dubbed 2014 "the year of the originator free agency," stating in a recent release, "[T]he key trend impacting the residential mortgage market in 2014 will be the development of the free agency market for successful mortgage originators."

Richard Koch, SVP at Morningstar Credit Ratings, sat down with Mortgage Markets Today to discuss how regulations issued by the CFPB will impact servicers in 2014.

Mortgage industry commentators may argue (and they certainly have) about the Consumer Financial Protection Bureau's (CFPB) performance over the last year, but one thing is certain: The bureau knows how to command headlines. Early this year, CFPB finally issued its long awaited Qualified Mortgage (QM) guidelines along with a slew of other finance regulations. With the future of housing finance on the line, it's no wonder readers of theMReport.com couldn't tear themselves away from the news.

As the industry moves further and further toward eMortgage and paperless initiatives, a new survey shows compliance demands are having the greatest impact in the shift to tech-powered solutions.

Federal agencies assured institutions that they will not base their judgments of a loan's safety and soundness on its status as a QM or non-QM loan.