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Underwriting

Fannie updates AML rules, Freddie adds a buydown option

Fannie Mae, Freddie Mac, Originations, Secondary markets, Underwriting /

The larger of two influential government-related mortgage buyers has made clear that even non depository mortgage companies not governed by the Bank Secrecy Act still have certain anti-money laundering responsibilities. “If a seller/servicer is not subject to the BSA’s AML provisions, it must establish a suspicious activity identification program,” Fannie Mae said in a bulletin, […]

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Former First American Title co-president joins TRG as CEO

CAREER & COMPENSATION, Career moves, Originations, Underwriting /

Kevin Wall, who abruptly departed First American as co-president of its title underwriter one week ago, has a new job: CEO of Title Resources Group. Current CEO J. Scott McCall is becoming the privately held company’s vice chairman. The changes become effective July 28. Kevin Wall is the new CEO of Title Resources Group. Last

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Dark Matter offers Empower integration with appraisal portal

Appraisals, Data integration, Mortgage technology, Originations, Servicing, Underwriting /

Dark Matter Technologies, which operates the Empower loan origination system, has created an integration with the Uniform Collateral Data Portal maintained by the government-sponsored enterprises. This makes the company “an early adopter” in supporting the Uniform Appraisal Dataset 3.6 and the Forms Redesign initiative, a press release said. On June 10, the Mortgage Industry Standards

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HUD rescinds 12 FHA policies: What home lenders need to know

HUD, LOAN PRODUCTS, Originations, Politics and policy, Regulation and compliance, Underwriting /

Mortgage lenders welcomed the rescissions the Department of Housing and Urban Development made to 12 Federal Housing Administration policies, noting they would make the program more attractive for participants. They could even be a starting point for bringing banks back as originators in this government-insured program. These revisions might affect other segments of the housing

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Mortgage broker-retail friction returns to spotlight

Mortgage brokers, Originations, Underwriting /

Concerns over channel conflict in mortgage lending — particularly between wholesale and retail operations — are resurfacing as brokers reclaim a growing share of originations. Tension can arise when wholesale lenders also operate retail arms, potentially putting them in direct competition with the very brokers bringing them business. This strain has led companies like United

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FHA rescinds 12 policies as Trump pushes to cut red tape

Appraisals, FHA, FHA loan, Flood, Government Lending, HUD, HWmember, Mortgage, Regulatory, Regulatory Compliance, Scott Turner, Underwriting /

As part of the Trump administration’s broader effort to cut regulatory burdens, the Federal Housing Administration (FHA) on Friday announced the rescission of 12 policies related to appraisal protocols, underwriter employment, flood risk management and other areas.  Scott Turner, the secretary of the U.S. Department of Housing and Urban Development (HUD), which oversees the FHA,

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First American Title co-president abruptly departs

Career moves, Originations, Title insurance, Underwriting /

Kevin Wall, co-president of First American Title Insurance Co., has abruptly exited his role from the largest individual underwriter in the nation, the company confirmed. His departure was first reported by Inside Mortgage Finance. Wall also headed up the company’s Agent/Lender Group, which consists of the Agency, Mortgage Solutions, Docutech, First American India, Servicemac and

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Lenders get a better view of condo blacklist but want more

Condos and HOAs, Secondary markets, Underwriting /

Four years after a notorious condominium collapse that suddenly tightened home lending standards, influential government-sponsored enterprises have soothed some industry tensions, but lenders say there’s still more to be done. “Increased transparency regarding which condo projects are and are not on Fannie and Freddie’s approved list has been a big CHLA priority — so we

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FICO adds BNPL data to credit-scoring models

Credit, Credit scores, Originations, Underwriting /

FICO has updated its latest credit score models to include buy now, pay later data, showing how important this pandemic-era tool has become in the overall consumer debt market. The credit score algorithm provider has introduced the capabilities in FICO Score 10 BNPL and FICO Score 10T BNPL. “Our clients tell us that FICO’s initiative

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How to guide military PCS clients through home financing

Housing markets, LOAN PRODUCTS, Originations, The VA, Underwriting /

For many career servicemembers in the U.S. military, relocation is part of the job. Known as a Permanent Change of Station, these reassignments typically happen every two to four years and often involve moving an entire household: spouse, kids, pets and all. This is where lenders and real estate agents can play a critical role

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