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 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.

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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.

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.

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: Mortgage industry will shed 100K jobs this year

Housing Wire

And this time, the most wonderful time of the year gives way to what, in the mortgage industry, could be the most awfullest time of the year. The mortgage industry has been going through these cycles since the 1980s. And people are this industry’s most important and valuable asset.

Anxiety grips LOs as layoffs sweep the industry

Housing Wire

According to Fahad Janvekar, a loan officer at Fairway Independent Mortgage , “there is definitely some concern” about layoffs in the industry. Someone with 10 years in the industry, they know the answer to the question—I don’t.”. In 2020, hiring in the mortgage industry surged.

Title insurance industry reports best quarter on record

Housing Wire

During Q3 2021, the title insurance industry generated $6.8 billion in title insurance premium, marking the industry’s best quarter on record. Total operating income for the industry was up 53.3% The industry has paid out $352.5

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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.

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.”.

Industry groups react to SCOTUS eviction ruling

Housing Wire

The post Industry groups react to SCOTUS eviction ruling appeared first on HousingWire.

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.

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.

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.

Drone mapping in the real estate industry

Housing Wire

In most cases, the advancements cause disruption— and opportunity—in every industry. Drone mapping is replacing manned aerial flyovers such as Google Earth , a technology the industry has relied on for decades. Seth Thompson, premier land professional.

How COVID-19 is driving AI in the mortgage industry

Housing Wire

The shift to AI-powered technology is rapidly taking over the mortgage industry with leaders turning to machine learning to increase efficiency amid COVID-19. If we could get some of these other industries started again, that could ameliorate some of the negative effects.

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.

Why female leadership is crucial to the mortgage industry

Housing Wire

HousingWire recently spoke with Keri Stichler, Divisional Vice President at Rocket Pro TPO, about why female leadership is crucial in the mortgage industry and how companies can advocate for inclusivity. HousingWire: How common is female leadership across the industry?

What’s holding the industry back from broad-scale digital closing adoption?

Housing Wire

For well over a decade, the industry has made steady progress in digitizing mortgage closings. While technology is an obvious and critical component of eMortgages, that’s not necessarily what’s holding the industry back from broad scale adoption.

How a noncompete ban would impact the mortgage industry

Housing Wire

If such a rule is implemented, industry veterans and labor attorneys say it could change how the mortgage industry recruits and retains talent over the next decade and beyond. The post How a noncompete ban would impact the mortgage industry appeared first on HousingWire.

Industry to Congress: G-fees aren’t your “piggybank”

Housing Wire

Two dozen industry groups have joined forces to oppose any plan to raise Freddie Mac and Fannie Mae guarantee fees (g-fees) to pay for an infrastructure package. The spectre of raising g-fees horrified industry stakeholders.

The title insurance industry has a talent problem

Housing Wire

While Foglia Brandy acknowledges her work in the title industry is not exactly what she had in mind for her career when she was in university, she does see some parallels between her former dream job in PR and what she does at Cohen. “I

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Biden affordability efforts make no waves in housing industry

Housing Wire

The mortgage industry and housing advocates were generally supportive of the modest measures. Many items the housing industry and affordable housing advocates are hoping for are still up in the air as Congress negotiates the infrastructure packages.

May jobs report a mixed bag for housing industry

Housing Wire

So what does that mean for the housing industry, and the likelihood the Fed will change course on monetary policy? According to the government’s statistics, job gains were again concentrated in the service industry, which showed an increase of 489,000 jobs in May.

Industry and housing groups expect big things from FHFA

Housing Wire

In their comments, numerous industry stakeholders, as well as affordable and fair housing groups, said that it’s time for some new ideas. Evidently, housing advocates see those initial steps as a good start, and industry stakeholders, expectant of more change, want to log their viewpoints.

Why isn’t mortgage industry alarmed by FHFA actions?

Housing Wire

The most surprising truth here is that the mortgage industry, awash with profits from the past year or so, has turned an almost blind eye toward these steps. The mortgage industry can tend to be short-sighted at times. The post Why isn’t mortgage industry alarmed by FHFA actions?

Industry groups urge Biden to let CDC eviction ban sunset

Housing Wire

A broad swath of the housing industry is calling for the Biden administration to let the Centers for Disease Control (CDC) eviction ban lapse at the end of this month. The industry coalition also writes that economic conditions have improved substantially in recent months.

Industry prays for clarity but expects no mercy from Chopra

Housing Wire

Affordable housing and consumer advocates hailed Rohit Chopra’s confirmation as Consumer Financial Protection Bureau director, but industry stakeholders hope the watchdog agency will not catch them off guard. The mortgage industry widely expects the CFPB to increase enforcement under Chopra.

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 one real estate company is navigating the industry’s shift to B2B transactions

Housing Wire

5 mega team by volume at $1.370B, works with some of the biggest names in the industry including Rocket Mortgage, Veterans United, New American Funding, Amerisave, Zillow and many more. “By

The mortgage industry is ripe for blockchain in 2021

Housing Wire

The next time you apply for a mortgage, or your lender services that loan or sells it on the secondary market, you might be helping to disrupt an industry.

The purchase market is an opportunity for the title industry

Housing Wire

My recommendation for lenders is applicable to the title industry, too. Just as I’ve advised the origination industry, that opportunity also exists for the settlement space. The post The purchase market is an opportunity for the title industry appeared first on HousingWire.

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The looming danger facing the affordable housing industry

Housing Wire

The post The looming danger facing the affordable housing industry appeared first on HousingWire.

The drive to digital in the title industry

Housing Wire

The title industry has used artificial intelligence and automation in various parts of the process for many years. The post The drive to digital in the title industry appeared first on HousingWire.

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3 mortgage industry trends that will define the rest of 2021

Housing Wire

For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. When COVID forced the real estate industry to get digital, gasoline was thrown on the same trend within mortgage lending.

Housing industry turns against Fannie, Freddie’s added refinance fee

Housing Wire

After Fannie Mae and Freddie Mac announced an added 50 basis point fee to all refinances, the housing industry was quick to react. The Mortgage Bankers Association also joined together with various members of the housing industry to oppose the move.