CoreLogic Launches New Compliance Solution to Help Lenders With TRID

first_img The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago CoreLogic Launches New Compliance Solution to Help Lenders With TRID Home / Featured / CoreLogic Launches New Compliance Solution to Help Lenders With TRID CoreLogic recently announced the release of its LoanSafe Compliance Manager, a new solution to help lenders comply with a broad array of federal, state, and local residential mortgage lending regulations, including the upcoming TILA-RESPA Integrated Disclosure (TRID) rule.The LoanSafe Compliance Manager is powered by ComplianceEase, a provider of automated compliance solutions to the financial services industry, and is a new part of the LoanSafe mortgage risk management suite from CoreLogic, according to the announcement.“CoreLogic is committed to providing our clients with smart, integrated solutions that help them comply with the myriad of relevant regulations, including TRID, with minimal disruption to their workflow,” said Olumide Soroye, managing director of Information Solutions at CoreLogic. “We are excited to work with a best-of-breed, TRID-ready provider, to bring clients a timely solution that helps identify and address loan-level regulatory compliance issues through seamless integrations with technology partners and support from the industry’s leading compliance experts.”The LoanSafe Compliance Manager helps lenders easily identify and address loan-level regulatory compliance issues by delivering alerts and summary reports supported by detailed analyses, the company says. When the manager program comes across a potential problem, it notifies the user and provides an explanation, calculation, and/or regulation concerning the issue. CoreLogic can then respond proactively and resolve these issues in a timely manner. The Compliance Manager also delivers exception handling and reporting, exportable management reports, and audit reports that can provide comprehensive evidence of an independent compliance review to secondary market investors and regulators.“In a Fannie Mae survey performed in Q4 2014, lenders said they were more concerned about risk due to non-compliance than they were about risk due to lower loan volume, and that was in a year that saw originations decline more than 35 percent,” said John Vong, president of ComplianceEase. “Our partnership with CoreLogic allows us to jointly enable more lenders to comply not only with the current pressing regulatory challenge—the coming TRID rules—but also the hundreds of other existing rules that could apply to a mortgage and that could render it unsalable.”LoanSafe Compliance Manager performs multi-jurisdictional compliance audit reviews covering:TRIDHome Ownership and Equity Protection Act (Sections 32, 35)Loans ineligible for Qualified Mortgage (QM)State and municipal high-cost / anti-predatory laws and regulationsLoan originator compensation restrictionsState license-based consumer lending laws and regulationsSecondary market investors’ and GSEs’ compliance guidelinesLenders’ internal compliance policies Is Rise in Forbearance Volume Cause for Concern? 2 days ago Compliance Compliance Management CoreLogic TILA-RESPA Integrated Disclosure TRID Rule 2015-06-23 Brian Honea Share Save About Author: Xhevrije West June 23, 2015 1,494 Views  Print This Post Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago in Featured, News Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Compliance Compliance Management CoreLogic TILA-RESPA Integrated Disclosure TRID Rule The Best Markets For Residential Property Investors 2 days ago Previous: Wolters Kluwer Hires Former Fed Regulator Next: Dual-Tracking and Loss Mitigation Runarounds Are Among Servicing Problems Found by CFPB Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more

FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit

first_imgSubscribe Related Articles The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Home / Daily Dose / FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac Lawsuits Mortgage-Backed Securities Royal Bank of Scotlandcenter_img Previous: U.S. Congressman Hensarling Scheduled to Speak on Fifth Anniversary of Dodd-Frank Next: Cleveland Bank Demonstrates Ability to Remain Well-Capitalized in Stress Test Fannie Mae FHFA Freddie Mac Lawsuits Mortgage-Backed Securities Royal Bank of Scotland 2015-07-02 Brian Honea Share Save July 2, 2015 1,145 Views Servicers Navigate the Post-Pandemic World 2 days ago The Royal Bank of Scotland (RBS) may have to pay as much as $13 billion in a mortgage-backed securities lawsuit filed by the Federal Housing Finance Agency (FHFA), according to multiple media reports.FHFA made a filing in the U.S. District Court in Connecticut in late June seeking $13 billion in damages, according to a report from Bloomberg. RBS was one of 18 lenders sued by the FHFA in 2011 to recoup U.S. taxpayer costs following the government’s $187.5 billion bailout of Fannie Mae and Freddie Mac in 2008.The lawsuit against RBS in the Connecticut court involved the selling of about $32 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac before the crisis. The bank had set aside about $3 billion for a possible settlement but reports surfaced that the FHFA might ask as much as $7.7 billion. The case should go to trial sometime in 2016 if a settlement is not reached. Analysts from Bloomberg Intelligence predict that the two parties will reach a settlement for between $1.8 billion and $4.5 billion before it goes to trial. The $13 billion FHFA asked for in the filing exceeds all previous estimates.Out of the 18 lenders the FHFA sued, 16 of them settled for a combined total of about $17 billion. Nomura Holdings took FHFA to trial in March for a case in which RBS was also a defendant. In the two-month  long bench trial, Judge Denise Cote in the U.S. District Court in the Southern District of New York found Nomura liable for deceiving Fannie Mae and Freddie Mac in the sale of $2 billion worth of mortgage-backed securities to the GSEs prior to the financial crisis of 2008. FHFA was seeking $1.1 billion in damages in that case; the judge awarded the agency $806 million. The bank has appealed the verdict.In June 2014, RBS agreed to pay $99.5 million to settle a separate FHFA suit claiming that the bank sold more than $2 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac between 2005 and 2007, the years of the “housing bubble” in the U.S. FHFA Seeking $13 Billion From RBS in Mortgage-Backed Securities Suit Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Secondary Market Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Summer Brings Best Housing Market In Decade

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, News Share Save Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago A new report from The Home Story presented by Fannie Mae states that though summer is normally a popular time to buy or sell a home, this season’s strong housing and economic data may make even better. The report cites Jonathan Smoke, chief economist at Realtor.com, in a piece he penned for CNBC.com, as saying this might be the “best summer for the housing market in a decade”.The report also notes Smoke who states that low mortgage interest rates and an unemployment rate of 4.9 percent in July are some of the factors driving home sales. The report states that the unemployment rate remained at 4.9 percent in August, as reported by the U.S. Labor Department reported on September 2.Additionally, Smoke says the employment report affirmed healthy economic fundamentals that support demand for housing. He also points to consumer confidence as a factor that favors those who want to buy a home, according to the report.Fannie Mae’s report says that although additional data points for August are yet to come, Smoke says he believes the demand for real estate remained robust.The report does note though that the total number of transactions continues to be held back by two key factors. Smoke is cited as saying these are limited supply and tight credit.“Those factors are most significant in hot-but-high-cost markets like San Francisco, where we are seeing some cooling in demand. But even with some cooling, markets like San Francisco remain very hot relative to the rest of the U.S.,” says Smoke.Affordable markets, especially in the Midwest and Southeast, are likely to see sales remain strong at least through August as frustrated buyers unable to find a home already this summer remain in the market while mortgage rates remain near all-time lows, he says.The report states that Doug Duncan, chief economist with Fannie Mae, says in terms of level of home sales and construction, “There’s no doubt that if you look at the depth of the crisis, we’ve been on an uptrend.”Additionally, the report states new residential sales reached an eight-year high in June. According to the Commerce Department, the report says this is increasing 3.5 percent to a seasonally adjusted rate of 592,000.On August 16, the report says the Commerce Department reported housing starts increased 2.1 percent in July to a seasonally adjusted rate of 1.2 million units. This was the highest level since February.Still, the limited supply of homes for sale is a major challenge, Duncan says according to the report. The supply of unsold inventory was 4.6 months in June, according to the National Association of Realtors. A “normal” unsold inventory supply is typically between six and seven months, he says.“We’re not back to normal by any means,” Duncan says about the housing market. “The limited supply of starter homes means house prices are appreciating well above long-term inflation-adjusted pace and thus a headwind for first-time buyers.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Summer Brings Best Housing Market In Decade Tagged with: Housing Market The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Housing Market 2016-09-18 Kendall Baer Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Demand Propels Home Prices Upward 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago September 18, 2016 1,415 Views  Print This Post About Author: Kendall Baer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Summer Brings Best Housing Market In Decade Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The Week Ahead: A Tale of Two Housing Markets Next: OCC Says Banking System is in a Position of Strength The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Subscribelast_img read more

Catastrophe in California

first_imgSubscribe Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Catastrophe in California in Daily Dose, Featured, Loss Mitigation, News November 13, 2018 2,930 Views “Our thoughts are with the families and communities affected by these devastating California wildfires,” said Carlos Perez, SVP and Chief Credit Officer at Fannie Mae. “Fannie Mae and our lending and servicing partners are focused on ensuring mortgage assistance is available during this challenging time. It is important for those in the area to focus on their safety, first and foremost, and we encourage homeowners impacted by the fires to contact their mortgage servicer for assistance as soon as possible.”“Once safely out of harm’s way, we strongly encourage homeowners whose homes or places of employment have been impacted by these dangerous fires to call their mortgage servicer—the company to which borrowers send their monthly mortgage payments—to learn about available relief options. We stand ready to ensure that mortgage relief is made available,” said Yvette Gilmore, Freddie Mac’s VP of Single-Family Servicer Performance Management. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Donna Joseph Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Home / Daily Dose / Catastrophe in California Previous: Towards a New Normal Next: Monitoring Mortgage Performance  Print This Post Tagged with: California Camp Fires Carlos Perez CoreLogic Fannie Mae FEMA Freddie Mac Homeowners HOUSING wildfires Woolsey Fires Yvette Gilmore California is in the middle of the deadliest wildfires in the state’s modern history. On Monday, officials at Butte County said they discovered remains of 13 more people in the town of Paradise in northern California, bringing the death toll to 42. Homes constitute a major part of more than the 7,600 structures that have been destroyed. The fire, in fact, has destroyed 6,453 homes in Paradise alone and forced over 250,000 residents to flee from their homes. According to an analysis by CoreLogic, 48,390 homes with a total reconstruction cost value of approximately $18 billion are at high or extreme risk of wildfire damage from the Camp and Woolsey fires in Northern and Southern California. The analysis indicated that not all the ZIP codes were within the burn perimeters on account of the unpredictable nature of the wildfires. Not all structures within a fire perimeter will suffer damage or be destroyed by the fire, the analysis noted. Analyzing the wildfire risk and reconstruction values, CoreLogic found that the number of homes at high and extreme risk stood at 31,394 in Camp Fires and 16, 996 in Woolsey Fires. As part of FEMA’s federal aid program, assistance is being extended for affected individuals and households including:Rental payments for temporary housing for those whose homes are unlivable. Initial assistance may be provided for up to three months for homeowners and at least one month for renters and may be extended if requested after the initial period based on a review of individual applicant requirements. Grants for home repairs and replacement of essential household items not covered by insurance to make damaged dwellings safe, sanitary and functionalLoans available up to $200,000 for primary residence; $40,000 for personal property, including renter losses. Loans available up to $2 million for business property losses not fully compensated by insurance.In these times, Fannie Mae and Freddie Mac are reminding those impacted by the wildfires of the options available for mortgage assistance. Homeowners impacted by the wildfires are eligible to stop making mortgage payments for up to 12 months, during which time they will not incur late fees or have delinquencies reported to credit bureaus. Fannie Mae and Freddie Mac have authorized servicers to suspend or reduce homeowner’s mortgage payments immediately for up to 90 days if they have been affected by a disaster. Payment forbearance of up to 12 months is available in many circumstances. Foreclosures and other legal proceedings are also to be suspended. Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago California Camp Fires Carlos Perez CoreLogic Fannie Mae FEMA Freddie Mac Homeowners HOUSING wildfires Woolsey Fires Yvette Gilmore 2018-11-13 Donna Josephlast_img read more

Adapt, Evolve, and Remember the Basics

first_img Demand Propels Home Prices Upward 2 days ago Tagged with: and rising home prices inventory shortage rising interest rates Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Editor’s note: This feature appeared in the February issue of DS News, out now.As the U.S. economy remains strong, some experts predict that the housing market trends experienced in 2018—inventory shortage, rising interest rates, and rising home prices—will continue into 2019. They also predict that the number of people who choose to rent will rise as higher mortgage rates limit affordability when buying a home. Some people will be financially unable or unqualified to buy and will have to continue renting. Defaults are projected to reach record lows, and some industry experts do not believe the U.S. will experience another foreclosure crisis anytime soon. Economists and housing experts also predict that technology will have a significant impact on the housing market not just this year, but in the years to come. Proptech—short for property technology—will lead to significant innovations in the real estate industry. In the mortgage field services industry, a thriving economy and stable housing market have prompted field service companies to expand and evolve their services to meet the changing dynamics of the default and foreclosure market. Fewer mortgage defaults mean a significantly lower volume of foreclosed properties, and as volumes continue to decrease, field servicers must innovate to survive.INNOVATION AND CUSTOMER COMMITMENT The cliché that necessity is the mother of invention certainly holds true, as mortgage field services companies must now work to find ways to keep their businesses afloat. Often, they take this downtime as an opportunity to utilize new technologies to improve processes and increase quality. However, the focus should not be solely on developing technologies. Field services companies need to ensure that they continue to provide optimum customer service and other amenities that foster good client relations to remain successful while default property volumes are low. Over the past several years, the mortgage servicing industry and its field services partners have significantly benefitted from advances in technology. Mobile devices have completely changed the way field services companies do business, and they continue to help improve timelines and enhance the quality of the data submitted to mortgage servicing clients. Field services companies have taken advantage of the “smartness” of smart devices to build controls into their processes to ensure that work is done right the first time.Another technological trend that helped propel field services is geo-location technology. When taking a photo with a mobile device, it captures the longitude and latitude of where that photo was taken. Field services companies have created applications to capture that data and apply it to the front-of-house photo requirement to ensure the inspector or vendor is at the correct property. If the photo is taken outside a pre-determined number of feet, it sets off a red flag within the app, prompting a request for additional location information from the vendor or inspector within the app. These apps also can collect date- and time-stamp data to help eliminate the possibility of vendors or inspectors accidentally using an old or duplicate photo. Video and panoramic photo results to complement photo requirements for high-risk property conditions and integrated workflow systems are the latest innovations from the field services industry. Companies also are looking into using drones, and possibly robotics or artificial intelligence (AI), in the future. The industry has made great strides in using technology to generate more efficient results and improve the quality of services. Field services companies need to refine and improve their processes as new technologies emerge.Technology has propelled the industry from notepads and waiting days for field results to mobile devices transmitting near real-time information. Some of the most significant advances are the quality and accuracy of the information being submitted and processed. The future of field services will continue to be influenced by emerging technologies. The key is how field services companies choose to employ it. With all of these innovations, field services companies can get lost in building the most efficient or best systems, expending significant time and energy into utilizing the latest technology to improve their processes. While that, and technology itself, are not bad things, field services companies need to stay true to their roots and remain focused on client relationships. The latest gadgets and widgets that offer efficiency and automation do not provide that human touch that will retain clients and build better partnerships. It is the “family-owned” or “mom-and-pop” mentality, in addition to the one-on-one interaction, customer service, and additional communication that will keep a field services company thriving during the lull.COMMUNICATION IS KEYThe practice of regular communication and providing fast and accurate information to mortgage servicing clients by field services companies is a critical component of quality customer service. With field service companies traditionally serving as the eyes, ears, and boots-on-the-ground for the servicing industry, mortgage servicers have come to utilize their field services companies for more than just property preservation. Being aware of the additional resources companies can provide, servicers are now channeling them for information. Effective communication and partnership are vital to ensuring clients remain up-to-date on disasters, industry news, and policy changes. Field services companies need to stay consistent in providing relevant, timely, and strategic information to clients, vendors, and the industry as a whole. They need to understand the challenges that mortgage servicers face in staying current, with frequent changes in the industry, investor and insurer guidelines, and a multitude of critical issues to assure compliance and reduce potential out-of-pocket costs.In addition to general blasts of pertinent information to clients regarding industry news, legislative updates or policy changes, field services companies need to be better partners at identifying information relevant to individual client needs. For example, single vacant house fires often occur in many cities or towns across the U.S. The local news will report it, but how often does the mortgage servicer get that news, especially for occurrences in small towns or rural areas? Even if they receive the news quickly, they may not have all of the property information from previous inspections and work completed readily available. Field services companies should research the news for information on potential property damage and provide a report to the individual client with updated property results.This level of personal service and information is even more critical following a major disaster, such as a hurricane or the widespread wildfires in California near the end of 2018. Long lists of affected ZIP codes are readily available, but taking the next step to research damage at the individual address level provides the servicer with more targeted data and the ability to act quicker and make better business decisions. Additionally, local governments across the country routinely draft and enact laws that directly impact the preservation industry, and field services companies should consider the importance of actively tracking relevant legislation. While servicers take the lead on compliance, proactive field services companies have an opportunity to serve as a secondary resource for acquiring critical information and taking the concept of protecting their clients’ interests to the next level. This includes not only arming servicers with legislative information but also providing them with insights into the type of environment the legislation aims to effect.If any information brings to light an issue that servicers may speak to directly, an opportunity may present itself for them to get in front of the issue and reach out to that particular government. Maintaining close working relationships with those government officials, in addition to investors including HUD, FHA, Fannie Mae, Freddie Mac, and the U.S. Department of Veterans Affairs (VA), is also imperative to remaining intimately aware of all new regulations and regulatory interpretations. As advocates for their clients, field services companies must proactively work with investors to develop strategies to improve operational efficiencies. Company leadership should be instrumental in assisting investors in creating rules and regulations that save time and money for both their clients and investors.Other avenues created to foster constructive dialogue and provide better customer service within the industry include regular conference calls, webinars, and in-person events. Representatives from all facets of the industry, including the HUD, Fannie Mae, Freddie Mac, VA, mortgage field services companies, and mortgage servicing corporations should be invited to participate, providing attendees with the opportunity to engage in discussions that tackle the most pressing industry issues. By involving all facets of the industry directly through educational face-to-face presentations and outreach, field services companies can position themselves to successfully obtain and share information in near real-time for the benefit of not just servicing clients but the industry itself.MAINTAINING BALANCEWhile remaining innovative and embracing technology is essential for mortgage field servicers, companies need to walk a fine line and refrain from putting so much emphasis on it that it impacts customer service and the valuable relationships that have been built. Technology and customer service need to work hand-in-hand to ensure clients are receiving the highest level of service at all times. An automated system may be beneficial when working an order, but nothing is more critical than adding a human element to a business partnership. The most valuable assets at any company are the employees and, in field services, the inspector/ contractor network as well. Offering additional communications or services that feature those assets will aid any company in remaining an industry leader, even when volumes decrease. The Best Markets For Residential Property Investors 2 days ago Share Save Adapt, Evolve, and Remember the Basics Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Home / Daily Dose / Adapt, Evolve, and Remember the Basics Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: “Renting More Affordable in Most U.S. Counties,” Says Economist Next: Mr. Cooper Takes Ownership of Pacific Union Financial and rising home prices inventory shortage rising interest rates 2019-02-05 Alan Jaffa Alan Jaffa is the CEO of Safeguard Properties, the nation’s leading mortgage field services provider. He can be reached at Alan. [email protected] Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily in Daily Dose, Featured, News, Print Features, Servicing February 5, 2019 1,928 Views Subscribe About Author: Alan Jaffalast_img read more

The Week Ahead: Bringing Together Law Firms and Mortgage Servicers

first_imgSubscribe Related Articles About Author: Seth Welborn Home / Daily Dose / The Week Ahead: Bringing Together Law Firms and Mortgage Servicers  Print This Post Tagged with: Five Star Legal League 100 The Five Star Institute will host various default servicing industry experts at the 2019 Legal League 100 Spring Servicer Summit, to be held May 6-7 at the Adolphus Hotel in Dallas, Texas. The Spring Servicer Summit will bring together representation from mortgage servicers, financial services law firms, and federal government agencies to discuss best practices and policies impacting professional legal services supporting the mortgage industry.The Spring Summit will begin with an opening address from Legal League 100 Chairman Roy Diaz, after which the day’s educational sessions will begin. Topics to be discussed include:Critical Developments in Default LitigationDive into the latest litigation developments, including the most recent FDCPA litigation, impacting the default industry over the last year. The industry’s top financial services attorneys and executives will explore the implications of these cases.Unrecorded Loan Modifications and Title Issues in Default ServicingThis panel will discuss the implications of unrecorded loan modifications and various title issues that impact bankruptcy, foreclosure, and REO.Building Better Partnerships: Collaborating to Improve CommunicationCommunicating across multiple departments within a servicing organization, escalation of non-routine issues, and inconsistent practices among servicers can prove to be both challenging and cumbersome. Panelists will discuss strategies for more efficient and effective communication.Navigating the Non-Standard DefaultThis panel will explore complications arising from defaults involving reverse mortgages, balloon mortgages, breach of contract, and various non-monetary defaults.The State of the IndustryA panel of respected thought leaders representing the mortgage servicing community gather to discuss the current state of the industry.Participants and speakers at this year’s Legal League 100 Spring Servicer Summit include representatives from organizations including Carrington Mortgage Services, Citibank, Fannie Mae, Gateway Mortgage Group, JPMorgan Chase, Ocwen Financial Corporation, RoundPoint Mortgage Servicing Corporation, and more.The Legal League 100, created in collaboration with the Five Star Institute, is a membership group for default servicing law firms and select service providers. The Legal League 100 acts as an advocate on behalf of its members to affect change in the industry from Wall Street to Washington, D.C.To learn more about the Legal League 100, please visit LegalLeague100.com.Here’s what else is happening in the Week Ahead:Senate Banking Committee Hearing “Privacy Rights and Data Collection in a Digital Economy”, Tuesday 10 am ESTBlack Knight Mortgage Monitor, MondayCoreLogic Home Price Insights Report, TuesdayFive Star Diversity Symposium, WednesdayFederal Reserve Consumer Credit, Tuesday, 3 pm ESTBureau of Labor Statistics Consumer price index Friday, 8:30 am ESTApril Federal Budget Release, Friday, 2 pm EST The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The Digital Mortgage Revolution: Servicing Challenges to Implementation Next: Analyzing Mortgage Customer Retention and Delinquency Rates Five Star Legal League 100 2019-05-03 Seth Welborn May 3, 2019 4,136 Views Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agocenter_img Share Save Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Bringing Together Law Firms and Mortgage Servicerslast_img read more

Intercontinental Exchange Acquires Ellie Mae

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Intercontinental Exchange Acquires Ellie Mae Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Home / Daily Dose / Intercontinental Exchange Acquires Ellie Mae September 4, 2020 992 Views About Author: Christina Hughes Babb The Week Ahead: Nearing the Forbearance Exit 2 days ago 2020-09-04 Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Share Save Previous: Cities With Most Distressed Homeowners Next: Latest Housing Market Stats The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Intercontinental Exchange, operator of global exchanges and clearing houses and provider of mortgage technology, data and listing services, today announced that it has received regulatory approval and fully completed its $11 billion acquisition of Ellie Mae from the private equity firm Thoma Bravo.“We are excited to begin the next important chapter in our journey to digitize the residential mortgage industry,” said Jeffrey C. Sprecher, Founder, Chairman and CEO of Intercontinental Exchange. “Ellie Mae’s industry leadership and best-of-breed technology will better enable us to further accelerate the automation of the mortgage origination workflow, which will benefit stakeholders across the production chain, including consumers.”Ellie Mae was founded in 1997 with a mission “to automate and digitize the trillion-dollar residential mortgage industry. Through its digital lending platform, Ellie Mae provides technology services to all participants in the mortgage supply chain, including its more than 3,000 customers and thousands of partners and investors participating on their open network who provide liquidity to the market. Lenders rely on Ellie Mae to securely manage and facilitate the exchange of data across the ecosystem to enable the origination of mortgages, while maintaining strict adherence to various local, state and federal compliance requirements,” according to a statement today.Intercontinental Exchange’s efforts to help automate the mortgage workflow began with its majority investment in the Mortgage Electronic Registrations System (MERS) in 2016, which it fully acquired in 2018. The strategy continued with the acquisition of Simplifile in 2019, furthering a focus on digitizing the closing and post-closing process for U.S. mortgages. The core focus of Ellie Mae’s technology, experience, and network is in the mortgage origination process, connecting brokers, underwriters and lenders. With all three of these entities, MERS, Simplifile and Ellie Mae working together as part of ICE Mortgage Technology, the expanded platform will, for the first time, bring together all of the key stakeholders from origination to final settlement in one digital mortgage ecosystem.Also included in today’s announcement, were key Q3 financial metrics:”Based on a closing date of September 4, and an allocation to ICE based on the number of business days following completion, ICE currently expects the Ellie Mae transaction to contribute the following to its third quarter results:Revenue of $67 million to $72 millionAdjusted operating expense1 of $34 million to $36 millionInterest expense of $11 million to $12 millionApproximately 5 million weighted average diluted shares outstanding, which are expected to result in total weighed average diluted shares outstanding of 551 million to 554 million in the third quarter of 2020.Note: Adjusted operating expenses excludes the amortization of acquisition-related intangibles related to the Ellie Mae acquisition. At the time of this release, we cannot reasonably estimate the GAAP operating expenses due to the unknown amount of amortization acquisition-related intangibles, which are currently being valued by a third party and are expected to be disclosed when we report our third quarter results.” Related Articles  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Newslast_img read more

Council urged to not financially neglect island communities

first_img Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly Twitter Calls for maternity restrictions to be lifted at LUH Pinterest Newsx Adverts Pinterest WhatsApp Council urged to not financially neglect island communities Previous articleLetterkenny Cllrs concerned that reduced signage costs could backfireNext articleLifford to look at new plans after one way road system rejection News Highland LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebookcenter_img RELATED ARTICLESMORE FROM AUTHOR Three factors driving Donegal housing market – Robinson Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Donegal County Council’s finance department is being asked to ensure that funds are set aside for island communities in the forthcoming budget.Cllr Marie Therese Gallagher, a member of the council’s Island Committee says there’s a serious lack of investment in islands at present, and very little appreciation of what island life entails.She said for most people in Donegal, losing a light outside their house is an inconvenience, but for islanders. losing a light on a pier can be a matter of life and death.She says islanders are citizens of Donegal, and deserve the council’s support:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/10/mtgal830island.mp3[/podcast] Facebook WhatsApp Google+ Twitter By News Highland – October 11, 2011 last_img read more

NY politicians meet with Donegal’s Mayor in Letterkenny

first_img Google+ NY politicians meet with Donegal’s Mayor in Letterkenny WhatsApp Guidelines for reopening of hospitality sector published Newsx Adverts Twitter Pinterest Facebook Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey By News Highland – October 16, 2011 Twitter WhatsAppcenter_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest Previous articlePARC hold first meeting with Leo VaradkerNext articleDonegal anti-drugs campaigner hits out at governments failure to tackle drug driving News Highland Facebook Calls for maternity restrictions to be lifted at LUH Google+ RELATED ARTICLESMORE FROM AUTHOR Almost 10,000 appointments cancelled in Saolta Hospital Group this week The New York State American Irish Legislators Society has been visiting Donegal as part of a one week Irish trip.County Mayor Noel Mc Bride met with the group in Letterkenny today, saying it was a very good exchange.The society was founded in 1973 and raises money for educational and cultural Irish programs.Cllr Mc Bride says with several senior politicians in the gathering, important links were forged………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/10/noelsun6.mp3[/podcast] Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

Donegal County Council rejects proposed Lifford one way system

first_img Facebook Pinterest By News Highland – October 10, 2011 News Twitter RELATED ARTICLESMORE FROM AUTHOR WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Twitter Google+ Previous articleMcGuinness confronted while canvassing by son of soldier killed by IRANext articleCouncil agrees revised Winter Maintenance Programme News Highland center_img Facebook Donegal County Council has rejected a proposed one way system in Lifford on the casting vote of the Mayor, with officials now drawing up revised Environmental Improvement Plans which retain the two way system.It had earlier been suggested that the issue be deferred to allow for discussions on an alternative traffic management system, after it became clear that the mood of non Fianna Fail members was to reject the proposed system.However, a vote was demanded by opponents to give long term clarity to the issue, but that almost backfired when the vote was taken.The initial vote on an amendment rejecting the proposal was lost by 11 votes to 10, but Sinn Fein Cllr Jack Murray returned to the chamber in time for the vote on the proceeding with the one way system, and that was tied 11-11, with the motion falling on the casting vote of Mayor Noel Mc Bride.The campaign against the one way system was led by newsagent Christopher Gallagher. He was in the chamber for the vote…..[podcast]http://www.highlandradio.com/wp-content/uploads/2011/10/chgal5301.mp3[/podcast] Calls for maternity restrictions to be lifted at LUH Pinterest Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Donegal County Council rejects proposed Lifford one way system Almost 10,000 appointments cancelled in Saolta Hospital Group this week Guidelines for reopening of hospitality sector published Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more