The bureau is expected to announce a pilot project to improve the mortgage closing process from A to Z for all stakeholders – not just consumers – an initiative likely to rely heavily on the industry’s technological capabilities.
In January, newly sworn-in FHFA Director Mel Watt officially delayed a GSE guaranty fee increase that had been scheduled by his predecessor Edward DeMarco.
As for details, a spokesman for the company said Ellie isn’t talking about the topic at this time. In an email exchange with IMFnews, mortgage technology consultant Tony Garritano of Progress in Lending called the whole episode “very bizarre”…
Some stakeholders said they called the firm’s investor relations department about the latest probe and were told the firm would be saying more about the matter when it reports first quarter earnings.
The FHFA shortly will begin to collect additional, more specific and personal information on borrowers and loans as part of the National Mortgage Database project the agency launched with the Consumer Financial Protection Bureau.