146-year old title industry battles cybercrime threats

Housing Wire

Opened in 1888 and known for its the intricate wood work and open designs in the main lobby and “Crown Room,” the historic resort is nearly as old at the title industry itself (ALTA was founded founded in 1907 but the first title company was opened in 1876).

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Housing industry continues to shed employees in economic downturn

Housing Wire

These trends have exacerbated industry overcapacity, leading to continual layoffs. The resizing of the housing industry will continue as mortgage lenders work to adjust to the new origination environment, said Shampa Bhattacharya, Fitch director of non-bank financial institutions.

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Ransomware imperils title, mortgage industry

Housing Wire

Ransomware attackers hit major title industry cloud services provider Cloudstar , stopping an untold number of loans from closing on Monday. The ramifications for the title and mortgage industry may extend beyond the immediately impacted loan applications.

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Mortgage Coach, Polly team up amid a rapidly shrinking industry

Housing Wire

The goal is to help drum up business for lenders during an extremely challenging time in the industry. . But with the industry struggling to stay afloat, Sales Boomerang and Mortgage Coach reduced their workforce by at least 20 employees in October.

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Bots are helping title industry automate tech gaps

Housing Wire

It’s becoming clear that the settlement services industry, long reluctant to adopt new technology, is finally moving in the direction of comprehensive automation. One final example of the many gaps custom automation can target in the title industry comes from report creation.

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Fannie Mae cuts 2022 industry forecast (again)

Housing Wire

The post Fannie Mae cuts 2022 industry forecast (again) appeared first on HousingWire. Fannie Mae lowered its projections of mortgage originations and home sales for 2022 as mortgage rates continue to climb.

Title industry prepares for changing market conditions

Housing Wire

As mortgage rates rise and home price appreciation continues , employees in the housing industry are hard at work preparing for shifting market conditions. The industry aggregate 2021 risk-adjusted capital (RAC) ratio decreased to 182% from 204% a year prior.

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Why the mortgage industry is poised for record M&A activity

Housing Wire

The expectation of continued margin compression in 2023 and 2024 has resulted in the onset of industry consolidation,” Hrobon said.

Despite market headwinds, title industry reports strong Q2

Housing Wire

Even with a sharp rise in interest rates toward the end of the second quarter, the title insurance industry still recorded a relatively strong fiscal quarter, according to the American Land Title Association’s Market Share Analysis. Total operating income for the industry was down 4.2%

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Reimagining How Construction Companies Capture Progress Tracking

Speaker: Felipe Engineer-Manriquez, Christopher Gagliardi, George Hedley, and Jason Nichols

Join our esteemed panelists for their discussion on the importance of progress tracking which ultimately touches upon every digital aspect within the construction cycle. Our thought-leaders' years of experience on the job sites can help you build a better future at your company.

Opinion: Has the title industry reach the automation tipping point?

Housing Wire

Not many would count the title industry among the economy’s technology leaders. More than a few observers have referred to us as a mom-and-pop industry because it’s comprised of a significant number of small agencies. An industry known for inherently thin profit margins.

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Voxtur CEO on progress in the housing industry

Housing Wire

Each year, the TECH100 awards recognize the 200 most influential tech companies in mortgage and real estate that are working to improve the housing industry through tech innovation.

Private mortgage insurance industry boomed in 2020

Housing Wire

The private mortgage insurance industry also supported $600 billion in mortgage originations. The mortgage insurance industry also updated its guides and processes to align with the Federal Housing Finance Agency (FHFA) and the GSEs’ policies to implement nationwide forbearance programs.

Headwinds confronting the mortgage industry in 2022

Housing Wire

As we approach 2022, some concerning headwinds confront the mortgage origination industry. Following a golden era of great profitability for the mortgage origination industry, a critical confluence of issues portends that next year will likely be more challenging.

Mortgage rates blow past industry predictions

Housing Wire

Joel Kan, associate vice president of economic and industry forecasting, at the Mortgage Bankers Association said rates could head even higher in 2022. “If Few industries are as impacted by market fluctuations as housing.

FHA borrower fee gridlock draws ire of industry

Housing Wire

The Federal Housing Administration ’s (FHA) decision to withhold a mortgage insurance premium cut has confounded mortgage policy experts and industry stakeholders. based consultancy Potomac Partners , which specializes in the mortgage finance industry. “To

Rocket Mortgage breaks into the solar industry

Housing Wire

Rocket Companies , parent of Rocket Mortgage , has its eyes on the solar energy industry, announcing this week that it will enter the green energy game by 2022. The post Rocket Mortgage breaks into the solar industry appeared first on HousingWire.

The housing industry’s disparate impact hopes

Housing Wire

Mortgage industry groups on Tuesday made their voices heard in response to the Department of Housing and Urban Development ’s proposed reinstatement of its 2013 disparate impact rule. But the mortgage industry and HUD don’t see eye-to-eye on how that decision should be taken into account.

State of the mortgage industry half-time report

Housing Wire

We interviewed more than 25 mortgage industry experts to gather the best insights, strategies, and recommendations to pivot and win in today’s market. For more trends and strategies aggregated from more than 25 of the mortgage industry’s leading experts, see the full report.

The appraisal industry’s governance problem

Housing Wire

Imagine if the Consumer Financial Protection Bureau ’s Board of Trustees was appointed by industry sponsors who paid a $7,500 fee. In this scenario, the majority of the board would be required to be industry creditors.

Housing industry reacts to Yellen’s confirmation

Housing Wire

Industry officials were quick to signal their support for yesterday’s historic U.S. ” For the housing industry , Yellen as Treasury Secretary represents a steady hand at the wheel in a deeply uncertain period.

Mortgage industry cheers Sandra Thompson’s nomination

Housing Wire

Industry stakeholders and affordable housing advocates welcomed news that the Federal Housing Finance Agency ’s acting director, Sandra Thompson, was nominated for the permanent role. The post Mortgage industry cheers Sandra Thompson’s nomination appeared first on HousingWire.

The housing industry will soon be up in ARMs

Housing Wire

That’s the consensus forecast of a panel of non-agency industry experts who spoke at the Mortgage Bankers Association ’s (MBA’s) Secondary and Capital Markets Conference & Expo in New York City this week. .

Mortgage industry welcomes incoming Biden administration

Housing Wire

The housing industry took the opportunity to welcome the new administration and remind it of its promises. “On We look forward to working with this administration and the new Congress on issues that affect mortgage finance and the broader real estate industry.

Reverse mortgage industry courts financial planners

Housing Wire

Our industry has never, ever recovered from not being able to sit shoulder-to-shoulder at bank branches and share clients. This is why this group maintains an important potential place in allowing the industry to reach its goal of expanding the base of borrowers it serves, she says.

Fed’s Beige Book offers grim news for housing industry

Housing Wire

A recent market report by digital mortgage exchange and loan aggregator MAXEX notes that the ongoing economic volatility “has had a profound effect on the housing industry.”. The post Fed’s Beige Book offers grim news for housing industry appeared first on HousingWire.

Industry uproar over 50 bps fee on GSE securities

Housing Wire

Mortgage industry stakeholders say a new 50 basis point fee on some Fannie Mae and Freddie Mac securities runs counter to the premise of a uniform mortgage backed security. ” Other industry stakeholders, however, see no connection to the subsidization of mission borrowers.

Industry supports FHA’s 40-year loan term option — with caveats

Housing Wire

The deadline for the mortgage industry to chime in on the Federal Housing Administration ‘s (FHA) proposed 40-year loan modification rule was at the end of May. The FHA is currently accepting industry feedback on the proposed rule, but the concept got us thinking.

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The appraisal industry’s hidden hand

Housing Wire

Ultimately, DeZarn concluded, “We don’t know where this industry is going.”. But they did not become key players in the home valuation industry until the recent housing bubble.”. It doesn’t exist in the AMC industry.”.

7 things that have changed forever in the mortgage industry

Housing Wire

The mortgage industry has not traditionally been the vanguard of digital adoption, particularly in data intelligence and applied machine learning. The mortgage industry has been forced to respond to the massive and sudden work-from-home mandates.

The growing threat of phishing attacks on the mortgage industry

Housing Wire

Phishing remains the go-to attack for hackers targeting the mortgage and real estate industries. The post The growing threat of phishing attacks on the mortgage industry appeared first on HousingWire.

Housing industry takes pride in stepping up

Housing Wire

Fortunately, in the midst of uncertainty, many in the housing industry are stepping up and continuing to push forward to help their communities despite the hurdles they may face at home and in the home office. The post Housing industry takes pride in stepping up appeared first on HousingWire.

How is the industry adapting to desktop appraisals?

Housing Wire

With over 235,000 hybrid and desktop appraisals under our belt and over 5,200 appraisers ready and willing to accept desktop appraisal assignments, we feel confident that the industry is ready for the change. The post How is the industry adapting to desktop appraisals?

How can the mortgage industry be more prepared for the next natural disaster?

Housing Wire

The housing industry, from servicers to real estate agents and more, will feel the impacts of this year’s hurricane season far beyond 2022. Gibson went on to discuss reform that could help the industry move toward greater resilience in order to be more prepared for the next disaster.