Editor in Chief Sarah Wheeler sat down with Bill Packer, chief operating officer at Longbridge Financial, to talk about the ways his company is using AI to serve reverse mortgage borrowers. Packer has worked in the consumer lending space for four decades, with deep expertise in technology and operations. This interview has been edited for […]
Longbridge COO Bill Packer on how technology is influencing workflows Read More »
The Mortgage Industry Standards Maintenance Organization has added over 40 standardized fee names to a dictionary it created and is seeking public comment on the revisions. The 30-day public comment period on those updates runs through Aug. 7. “MISMO developed this guide to promote the uniform usage of fee names and descriptions for the purpose
MISMO adds 40 definitions of fee charges to reference guide Read More »
Title Resources Group (TRG) has named Michael Campbell as a vice president and underwriting counsel for Michigan. In this role, Campbell will support TRG’s title agents and escrow officers across Michigan and the broader Midwest. “Michael’s diverse title agency and underwriting background in high-volume and boutique shops gives him the broad experience needed to solve
Michael Campbell joins Title Resources Group as Michigan underwriting counsel Read More »
The conservator and regulator of two influential government-related mortgage investors has announced a credit score other than FICO’s “classic” metric can be used when submitting loans to them. Effective immediately, Fannie Mae and Freddie Mac will allow lenders to use VantageScore 4.0, Bill Pulte said in an X post referencing one of two advanced credit
Fannie, Freddie add VantageScore, keep tri-merge Read More »
The Federal Housing Administration (FHA) has opened a request for information on buy now, pay later (BNPL) lending as it seeks to understand its implications for housing affordability and stability. Comments are due by Aug. 25. These installment loans — often referred to as “phantom debt” — gained popularity during the COVID-19 pandemic, particularly among
FHA seeks input on buy now, pay later lending Read More »
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,
Fannie updates AML rules, Freddie adds a buydown option Read More »
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
Former First American Title co-president joins TRG as CEO Read More »
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
Dark Matter offers Empower integration with appraisal portal Read More »
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
HUD rescinds 12 FHA policies: What home lenders need to know Read More »
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
Mortgage broker-retail friction returns to spotlight Read More »
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