Steven Stallard, owner of Insight One companies, launched a new specialty firm to provide targeted recovery, component servicing, legal, back-office and outsourcing services to mortgage lenders and servicers.
Loan workout applications on the whole have improved, though new servicer metrics introduced by Fitch in the third quarter are showing some disparity in completion rates.
Mortgage fintech lender Better.com plans to hire veterans and military spouses and recently closed on Series C funding. Other mortgage startups are also in a capital-raising mode.
A lack of data standardization is holding back adoption of digital mortgage processes, according to a survey of tech vendors. Fannie Mae is urging the industry to adopt standards set by MISMO.
The number of eNotes being added to the MERS eRegistry is sharply increasing, indicating a growing use of eClosings. Some 36,000 eNotes were added in the third quarter compared with 17,000 in all of 2018.
Fitch tested results from automated valuation models developed by five vendors. Clear Capital returned the most accurate results, according to the rating service.
MISMO released final standards for remote online notarizations, aiming to help adoption of digital mortgages. Business is booming, according to a provider of remote online notarizations.
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