While the share of mortgage files with errors that pose wire and title fraud risks is lower compared with prior quarters, the mortgage industry is still creating the same vulnerabilities, the latest FundingShield Fraud Analytics Report found. Processing Content Total issues found during the first quarter were down to 43.7% for the three-month period, the […]
Mortgage fraud vulnerabilities dip to 43.7% in Q1 Read More »
The Federal Housing Administration, which insures a large number of loans in the U.S. market, will be instituting a new digital file format for distressed mortgages that will add several reporting elements related to taxes and insurance. The new electronic-data interchange file for default reporting also addresses data privacy by removing 24 elements that are
FHA updating default reporting with new tax, insurance data Read More »
Bloomberg News Financial technology companies want lawmakers to preempt state privacy laws by amending the Gramm-Leach-Bliley Act, which prohibits the disclosure of information to any third party unless the consumer is provided notice and an opportunity to opt out. On Tuesday, the American Fintech Council sent a comment letter to the House Financial Services Committee
Fintechs want Congress to preempt state privacy laws Read More »