Both Fannie Mae and Freddie Mac have updated their selling guides to state that lenders must retain the audio-video recording of the RON transaction for the greater of either (a) the minimum period required by the state in which the notary is licensed or (b) 10 years. This guideline has left a lot of lenders wondering just how to store all that audio-video footage…and spurred a new crop of vendors ready to meet this “need.”
Category: News and Trends
MBA CONVERGENCE Partner Profile: Stephanie Moulton
The Ohio State University is a key leader in CONVERGENCE Columbus; Dr. Stephanie Moulton is the co-lead of the Evaluation Framework Working Group for CONVERGENCE Columbus.
COMBOG Corner: Interview with StanCorp’s Amy Frazey
Commercial real estate lending markets are on a tear heading into the last months of 2021. Life insurance companies are one of many capital sources benefiting from improved transaction volumes and economic fundamentals.
CFPB Issues RFI on Detecting Discrimination in Mortgage Lending
The Consumer Financial Protection Bureau on Tuesday issued a Request for Information seeking input on rules implementing the Home Mortgage Disclosure Act.
MBA Weekly Applications Survey Nov. 17, 2021: Refis Fall for 7th Time in 8 Weeks
Mortgage applications fell by nearly 3 percent from one week earlier as interest rates crept higher, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending November 12.
Industry Briefs Nov. 17, 2021: nCino to Acquire SimpleNexus for $1.2 Billion
nCino, Wilmington, N.C., announced it will acquire SimpleNexus, Lehi, Utah, for $1.2 billion.
Single-Family Rent Prices Reach Double-Digit Growth
CoreLogic, Irvine, Calif., said single-family rent growth reached 10.2 percent year-over-year in September, up dramatically from a 2.6 percent rate a year ago.
MISMO Commends Ginnie Mae Extension of Digital Collateral Program to Paper Mortgages
Ginnie Mae, Washington, D.C., issued an All-Participants Memorandum (APM 21-07) expanding use of certain features found in its digital collateral program to paper mortgages, a move expected to make it more efficient for Issuers to modify paper mortgages.
Dealmaker: Mesa West Capital Lends $100M to Refinance Mixed-Use Development
Mesa West Capital, Los Angeles, provided The Green Cities Co. and American Realty Advisors with $100 million in floating-rate first mortgage debt to refinance 5 MLK, a recently completed Portland, Ore. mixed-use development.
Redfin: Investors Bought Record 18% of 3Q Homes for Sale
Redfin, Seattle, said real estate investors bought a record 18.2% of the U.S. homes purchased during the third quarter, up from a revised 16.1% in the second quarter and 11.2% a year earlier.