The Federal Housing Finance Agency believes the risks that accompany digital tools are real, whether the systems are in-house or supplied by third parties.
The FHFA’s proposed financial standards for GSE seller/servicers could be a boon for larger firms; CFPB launches small business advisory review panel for rulemaking on automated valuation models; foreclosure starts jump; MISMO launches rate quote standard for mortgage insurance; delinquency rate on property taxes declines.
Leaders of New Residential and PennyMac Financial Services express a negative outlook on GOS; study finds eClosings generate a positive return on investment; Flagstar accepting applications for its mortgage technology accelerator program; borrowers surprised by the paperwork required for a mortgage; RiskSpan teams with Verisk to detail loan-level climate risk.
As a technical matter, Better.com’s SPAC maneuver is still alive. But with the refinance business waning and gain on sales slipping, the company’s future looks cloudy, at best.
Financial technology lender SoFi is set to acquire a bank; United Wholesale Mortgage will cover appraisal costs on purchase mortgages through the end of March; mortgage tech companies raise capital; CoreLogic offers new fraud-detection service; low-code marketplace launched.
The connection between work from home and productivity; Supreme Court blocks vaccine mandate for larger employers; Figure revises bank charter application; parent of Texas Capital Bank launches broker dealer.
Remote online notarization provision dropped from defense bill; credit unions allowed to acquire MSRs from other credit unions; new document processing technology offering; mortgage tech vendor raises capital; automated mortgage assistance product offered to distressed mortgage borrowers, for a fee.
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