Fraud and misrepresentation remain persistent challenges in the mortgage industry and Freddie Mac is responding by bringing Quality Control Advisor Plus to the market, a tool which automates this compliance function. The tool is currently in a phased onboarding process with plans to make it available to all lenders by year-end, including the participants in […]
Freddie Mac adds mortgage quality control automation tool Read More »
Mortgage application fraud risk increased on an annual basis during the third quarter as one in every 118 applications had indicators of potential misstatements, according to Cotality. When compared with the third quarter of 2024, fraud risk increased by 8.2% but this dropped by 2.7% from the previous quarter, the National Mortgage Application Fraud Risk
Mortgage fraud risk rises on growth of investor properties Read More »
Waterstone Mortgage is an independent mortgage banker which happens to be a fully owned asset of a bank, explained Jeff McGuiness, its president and CEO. It outperformed the plan submitted to its holding company, Waterstone Financial, and was profitable for all of 2024 and so far in 2025, looking primarily at its origination business and
Waterstone Mortgage on its structure and profitability Read More »
While there are legitimate means to allow consumers to boost their credit scores, others – not just individuals but also industrial or institutional actors – engage in a practice known as credit washing. The practice takes advantage of something people are allowed to do: challenge erroneous information on their credit reports. But in credit washing,
Credit washing rose nearly 700% over 2 years: Transunion Read More »
A change in mindset, away from the transactional and more towards creating relationships has led to higher customer satisfaction scores, improved trust and increased levels of brand loyalty, the latest J.D. Power survey found. But in what can be termed as a surprise in the results, Citi had the highest score in the 2025 U.S.
Citi tops J.D. Power mortgage satisfaction rankings Read More »
While the publicly traded title underwriters across the board reported improved third quarter results on a year-over-year comparison, helped by September’s refinance activity that several mortgage lenders referred to in their results. The biggest news from the sector came after the quarter ended, with three of the companies announcing merger and acquisition deals. Fidelity
Refis drive better 3Q for major title insurers Read More »
By Oct. 1, the first day of the federal government shutdown, mortgage subservicer Loancare was already fielding calls from borrowers asking what it meant for them and whether forbearance or other relief options were available. Consumers may have been more optimistic then. By Nov. 7, the shutdown had entered Day 38, concern was growing. How
How some mortgage servicers have handled shutdown fallout Read More »
Fannie Mae announced updates to underwriting guidelines, including a change that removes mention of a long-standing minimum credit score benchmark. Instead of a minimum score used to address risk, Fannie Mae updated language behind the previous requirement with a minimum credit risk standard based on evaluations made in its Desktop Underwriter system itself. “The minimum
Fannie Mae updates credit score language in DU update Read More »
Ocrolus, an AI-powered data and analytics platform for credit decisioning, recently announced it’s adding automated conditioning to its suite of products. The new solution allows mortgage lenders to move faster, increase loan quality and reduce compliance risk. The new capabilities, announced at the Mortgage Bankers Association’s Annual Convention and Expo in Las Vegas in mid-October,
Ocrolus adds automated conditioning to mortgage tools Read More »
In the time since Vic Lombardo became president of mortgage services at Remax Holdings over two months ago, the company has “taken a new view of the mortgage opportunity,” Eric Carlson, CEO, said in the third quarter earnings call. Among the units under Lombardo’s purview are Motto Mortgage, which offers mortgage broker franchises, and Wemlo,
Remax resets mortgage strategy under new division leader Read More »