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The Evolving Landscape of Mortgage Lending: Navigating New Challenges and Opportunities Explore recent trends in mortgage lending, including the rise of digital platforms, green mortgages, and the impact of regulatory changes.
Lending (1509)
First Financial Implementing New LOS
First Financial of Maryland Federal Credit Union is implementing CU Direct's Lending 360 account and loan origination system. It provides credit unions with a single platform that automates loan application processing activity across all consumer lending channels. "Through our [request for proposal] process, we reviewed four major industry providers, with our primary objectives being to… Read more...
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Corelogic: California’s Wildfire Cost Estimated $15B-$19B
Corelogic estimates that residential and commercial losses from the recent catastrophic wildfires in California are between $15 billion to $19 billion. According to the analysis, losses from the Camp Fire, the most destructive wildfire in the state’s history, are estimated to be between $11 billion and $13 billion. In addition, losses from the Woolsey Fire… Read more...
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Black Knight Execs to Lead D&B
Two senior Black Knight executives with will be placed in leadership positions at D&B, once the planned acquisition of the company is completed by the end of the first quarter. William Foley II , executive chairman of the board at Black Knight, will serve in the same role for D&B. Anthony Jabbour will be CEO… Read more...
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Genworth To Launch Risk Based Pricing Engine in December
Genworth Mortgage Insurance is launching Genrate, a proprietary risk-based pricing engine providing lenders with a more granular approach to pricing for borrowers pursuing the dream of homeownership. With the introduction of Genrate slated for December, lenders can opt-in to this proprietary pricing solution or choose from Genworth's standard published rate card. Loan originators will access… Read more...
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‘Aura of Science Fiction’ to the Term FinTech
[Remarks by Jelena McWilliams, Chairman of the Federal Deposit Insurance Corp. at the Federal Reserve Bank of Philadelphia "Fintech and the New Financial Landscape" conference in Philadelphia on Nov. 13, 2018.] I am very pleased to join you today. I would like to thank President Patrick Harker for hosting this important event on the role… Read more...
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Flagstar Named First Participant of Detroit Technology Incubator
The Detroit Fintech Bay named Flagstar Bank the founding partner of the North American Fintech hub. Detroit FinTech Bay brings together governmental bodies, financial institutions, corporations, venture capital, FinTech startups and other organizations. "Partnering with Detroit FinTech Bay is a strategic partnership for Flagstar Bank," said Jennifer Charters, chief information officer at Flagstar. "We're excited… Read more...
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FHFA Issues Final Affordable Housing Rules
The Federal Housing Finance Agency has completed amending its regulation governing the Federal Home Loan Banks' Affordable Housing Program to be more flexible. The aim was to provide more flexibility at the local level to allocate their Affordable Housing Program funds, and to design their project selection scoring systems to address affordable housing needs in… Read more...
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2018: Growth Upped Slightly, Labor Won’t Boost Housing
Full-year 2018 economic growth was increased to 3.1 percent, just one-tenth higher than last month’s forecast. Third quarter economic growth came in at a 3.5 percent annualized rate, slowing from 4.2 percent in the second quarter, according to the Fannie Mae Economic and Strategic Research Group forecasts. Solid third quarter growth was backed by an… Read more...
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Fannie Completes Final 2018 CIRT Trade
Fannie Mae has completed its final Credit Insurance Risk Transfer transaction of 2018, covering loans in the company's portfolio. The deal, CIRT 2018-8, which covers $12.8 billion in unpaid principal balance of 15-year and 20-year loans, is a part of Fannie Mae's ongoing effort to reduce taxpayer risk by increasing the role of private capital… Read more...
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Freddie Boosts Green, Affordability Options
Freddie Mac has enhanced the Greenchoice Mortgages energy-efficient offerings, with broader financing options to help families with lower-incomes reduce utility costs through energy-saving home repairs and improvements. “Older homes tend to be more energy inefficient, which may raise the cost of homeownership and may make them more difficult to maintain,” said Mike Dawson, vice president… Read more...
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