The share of mortgages closed with hybrid tech is declining. Still, analysts suggest that lenders would be wise to digitize their closings before volume drops are fully realized.
According to Nelson Mullins attorneys, the DOJ is conducting statistical analyses on HMDA loan application register data to unearth potential fair lending violations.
A study found that mortgages subject to TRID are less attractive to lenders than the pre-TRID version. The CFPB noted its own analysis didn’t find a long-term decline in mortgage originations linked to TRID.
The bill would render pre-dispute arbitration agreements and class-action waivers relating to consumer financial products and services invalid and unenforceable.
The Conference of State Bank Supervisors is optimistic it will avoid a repeat of the technical glitches that plagued the annual NMLS license renewal process last year.
Written correspondence sent to a mortgage servicer providing sufficient information to identify the account and an alleged servicing error is a “qualified written request,” the Fourth Circuit Court of Appeals ruled.