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Equifax to cut underwriting time with IRIS Software Group 

Housing Wire

Equifax ‘s new product integration with the United Kingdom’s IRIS Software Group aims to cut down underwriting time for mortgage borrowers at small- and medium-sized businesses (SMBs). When a consumer applies for a home mortgage , auto loan or social service benefits, their employer is required to provide employment and income history.

HR 430
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Ex-employee sues CrossCountry, branch manager for sexual harassment, retaliation

Housing Wire

A former CrossCountry Mortgage employee accused her immediate superior at a branch in Georgia of sexual harassment and said the mortgage company retaliated against her after she lodged complaints with the human resources department and federal authorities. A list with their names is attached to the suit.

HR 352
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Keller Mortgage eliminates some operations positions

Housing Wire

Keller Mortgage , part of the kwx holding company, laid off operations positions in a conference call on Monday May 23, according to more than a dozen employees. “We remain committed to assisting our impacted employees and to growing our mortgage offerings over the long term.” There is no cost for the company to keep them.

Mortgages 396
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House passes bill to modernize VA appraisals

Housing Wire

Department of Veterans Affairs mortgage loans. With the passage of HR 7735, known as the “Improving access to the VA home loan benefit Act of 2022,” the VA is now permitting desktop appraisals and in some circumstances, waiving appraisals altogether.

HR 496
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Are these factors creating chaos in your mortgage lending ops?

Housing Wire

From mortgage origination to servicing, companies are constantly grappling with high volume and stringent regulatory oversight while managing a large cohort of vendor partners. Smaller mortgage originators often deal with this problem by throwing more people at it. Two data degrees of separation.

Lending 298
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How lenders can prepare for growing fraud threats

Housing Wire

This can be attributed to increasing mortgage applications and refinances due to COVID-19 and low interest rates. All lenders should expect this trend to continue well into 2021 given that the economy should not expect relief from COVID-19 until the latter half of the year—keeping interest rates low, and mortgage and refinance volume high.

HR 385
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Better.com’s CEO apologizes, but the fallout continues

Housing Wire

The blowback from the industry has been immense, with many mortgage executives questioning the ethics of firing employees just weeks before the holidays. In the span of three minutes, 900 Better.com employees were fired via Zoom by the company’s CEO Vishal Garg last week. “If Your employment is terminated effective immediately.”.

HR 363