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Industry News

This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry. 

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September 25, 2020

Housing Policy From Trump and Biden

MReport – Christina Huges Babb

Tendayi Kapfidze, the Chief Economist and VP at lending Tree, issued a detailed list of the presidential candidates’ views and actions related to housing issues.

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September 25, 2020

Wells Fargo in hot water. No, for something else this time

Mortgage Professional America – Ryan Smith

Charlie Scharf, the CEO of Wells Fargo, is in the hot seat after disclosures that he blamed the lack of diversity at the bank on “a very limited pool of Black talent to recruit from.”

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September 25, 2020

Arcus Lending unveils mortgage industry's first digital human

Mortgage Professional America – Candyd Mendoza

Her name is Rachel, the first digital human to arrive in the mortgage industry.

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September 24, 2020

Housing Investors Face Risk of Foreclosure

DSnews – Christina Hughes Babb

A recent report from Hamilton’s revealed that “mom-and-pop” landlords are in a worse financial position than their higher-earning peers.

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September 24, 2020

Mitigating Risk Exposure During Stressed Periods

DSnews – Christina Hughes Babb

Industry professionals say a new credit assessment tool can assist servicers in mitigating risk and preventing loss during difficult economic periods.

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September 24, 2020

Serious delinquencies down, but borrowers face challenges ahead – TransUnion

Mortgage Professional America – Ryan Smith

According to a TransUnion report, delinquency rates dropped in August for mortgages and other credit products, but borrowers face challenges ahead.

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September 23, 2020

Lower-Income Landlords Face Risk of Foreclosure

DS News--Christina Hughes Babb

Independent owners of SFR properties in low to moderate income households are reportedly being hit the hardest by COVID-19 relief efforts.

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September 23, 2020

First American Mortgage debuts new forbearance monitoring tool

Mortgage Professional America – Candyd Mendoza

First American Mortgage Solutions has revealed a new tool that monitors a homebuyer’s credit from application to closing.

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September 23, 2020

Quicken’s Move to Support Third-Party Originators

MReport – Christina Hughes Babb

Quicken Loans Mortgage Services (QLMS) announced their rebranding and will become Rocket Pro TPO (TPO representing “third party origination”) within the next 60 days, to closer align with Rocket Mortgage.

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September 22, 2020

Feedback on FHFA’s New Strategic Plan Requested

M Report--Christina Hughes Babb

The FHFA's strategic plan for fiscal years 2021-2024 has been recently published.

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September 22, 2020

Report accuses Trump of 'systematically undermining' fair lending regs

Mortgage Professional America – Ryan Smith

Senator Sherrod Brown (D-Ohio) on the Banking Committee released a report, accusing the Trump administration of ignoring the government’s fair housing obligations established in the 1968 Fair Housing Act.

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September 22, 2020

Evolve Mortgage Services to hire 100 full-time underwriters

Mortgage Professional America – Candyd Mendoza

Evolve Mortgage Services, an outsourced mortgage services provider, announced they are looking to hire hundreds of full-time underwriters by the end of 2020.

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September 21, 2020

Fannie Mae Report Details Housing’s ‘V-Shaped’ Recovery

DS News--Christina Hughes Babb

The latest economic and housing outlook from FNMA, reports that the GSE's economics team expects the 3rd quarter GDP to grow at an annualized pace of 30.4%.

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September 21, 2020

Federal Reserve Releases ANPR on CRA

The Federal Reserve has released advance notice of proposed rulemaking in relation to the Community Reinvestment Act.

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