A new Minnesota bill signed into law last week will require mortgage servicers to maintain recordings of all customer telephone interactions for five years, alongside a host of tightened rules affecting escrow and account transfers. Processing Content Under the new law, companies servicing more than 500 residential loans in the North Star State must record […]
Minnesota mandates recording of most mortgage servicing calls Read More »
Processing Content Key insight: Audits of both the Federal Reserve Board and the Consumer Financial Protection Bureau found each agency’s security systems had declined. What’s at stake: The findings come at a time when banks face an unprecedented wave of sophisticated cyber threats, raising questions about data protection. Forward look: The OIG also found lag
Watchdog warns of failures in Fed and CFPB security programs Read More »
While both volume and gain-on-sale margins improved year-over-year in the first quarter, discussions between mortgage lenders and Boston Consulting Group revealed a heightened focus on artificial intelligence-driven transformations to permanently manage costs, strategic management company said. Processing Content Consolidation is also on the table as a way to scale operations. The company’s quarterly report tracks
The strategy shift lenders are quietly making Read More »