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MISMO searches for participants for closing initiative

Housing Wire

The Mortgage Industry Standard Maintenance Organization (MISMO) announced last week that the organization is looking for participants for an initiative focused on standardizing pre-closing title document data sets. MISMO hopes that the initiative will streamline the business process and improve the efficiency of the closing process.

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Communities Work to Create Lasting Affordability Through Local Development

Propmodo

Since 2000, close to 20 percent of neighborhoods in the U.S. In many of the country’s largest cities, like New York City and Philadelphia, neighborhoods that were once affordable became increasingly unaffordable as development and an influx of new residents sent property values soaring. There are a total of 6,225 CBDOs in the U.S.

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Reverse mortgage originator: real estate CE helps close more purchase loans

Housing Wire

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents. Curtis Mangus.

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Margin compression could serve as accelerant toward digital closings

Housing Wire

“In 2021, the potential for margin compression could serve as yet another accelerant towards digital mortgage closings as lenders seek to improve capital efficiency and offer a more competitive experience to borrowers.”. Martin: COVID catalyzed digital mortgage closings by creating a renewed sense of urgency.

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The Closing Exchange provides a wide variety of signing solutions for lenders looking to deliver eClosings

Housing Wire

The Closing Exchange (TCX) partners with its clients to configure solutions to support their workflow at every stage of their digital evolution. TCX provides a perfect mix of technology and service, providing its clients with the choice of how to close a loan at every stage of its digital evolution. Alan Frelix, CEO.

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Michigan attorney general reissues reverse mortgage consumer alert

Housing Wire

The action is designed to inform consumers about the potential pros and cons of taking out these loans, according to an announcement issued by Attorney General Dana Nessel’s office on Monday. “A Department of Housing and Urban Development (HUD)-approved counseling prior to closing the loan.

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Virtual notary adoption surges as businesses rush to close transactions remotely

Housing Wire

This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. A signer such as a customer closing on a loan appears before a notary on a video call and they complete, sign and notarize the document, he said.

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