This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
MBA Newslink | Sharon Reichhardt
While the last two months of the year typically denote the kickoff to the holiday season, this is also the time of year when lenders turn their attention to developing their strategic and operational plans for the coming year.
Housingwire--Brooklee Han
Title insurance premium volume rose 43.7% to $19 billion in the first nine months of 2021 compared to $13.3 billion during the first nine months of 2020.
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Reverse Mortgage Daily – Chris Clow
According to a study published in the Journal of Financial Planning, co-authored by Phil Walker, Dr. Barry Sacks, and Dr. Stephen Sacks, reverse mortgages could be highly beneficial to mass affluent seniors.
Reverse Mortgage Daily – Chris Clow
Home Equity Conversion Mortgage (HECM) volume dropped slightly in November 2021 as HMBS Issuance Hits New Record in November.
Mortgage Professional America (MPA) - Richard Torne
A recent whitepaper indicates that extreme weather events throughout the country may have a significant effect on property insurance rates and warns that there is a “substantial disconnect between insurers and real estate market participants about the magnitude of these (insurance premium) increases”.
The fee schedules for payment services the Federal Reserve Banks provide to depository institutions will result in a 3.7 percent average price increase effective January 3, 2022.
"ACES has made my life so much easier from a QC perspective. It's life-changing"
- Kelly Cooper Spencer, QC & Business Intelligence Data Manager at Thrive Mortgage
DS News--Kyle G. Horst
The CoreLogic Quarterly Mortgage Fraud Brief reveals that overall mortgage fraud decreased due to an increase in refinance loans and details the highest fraud risk metro areas.
The Federal Reserve Bank of Kansas City issued a briefing on features of BNPL products, including risks and benefits to both merchants and consumers.
Economic recovery from COVID-19 continued in the first half of the year along with other positive trends for the banking industry.
The Federal Trade Commission (FTC) recently released a report titled “Serving Communities of Color” that details fraud and consumer issues that have a disproportionately negative impact on communities of color.
Automated compliance tests to ensure compliance on more loans in less time
The U.S. Department of Housing and Urban Development (HUD) has released its Climate Action Plan to reduce the agency's energy use and carbon footprint in the coming years.
Mortgage Professional America--Richard Torne
Interest rates are expected to rise next year, reducing refinance activity and purchase loans will again lead originations but the drop in refinances could drop as much as a 62% resulting in a 33% total origination volume drop.
DS News- Kyle G. Horst
The number of homes sold for more than the listing price has been declining consistently for four months.
Mortgage Professional America--Richard Torne
According to a new JD Power survey, the tremendous number of refinance loans combined with an over-reliance of digital workflows have caused a drop in customer satisfaction over the last year.
