Industry Briefs Nov. 3, 2020

SimpleNexus Launches ROI Calculator

SimpleNexus, Lehi, Utah, announced availability of the SimpleNexus ROI Calculator. The self-service tool enables mortgage lenders to estimate their overall return on investment in SimpleNexus by modeling the digital mortgage platform’s impacts on loan production revenue and operational expenses.

The calculator draws on the results of a third-party ROI study conducted by independent consulting and advisory firm MarketWise Advisors. The compiled results of MWA’s analysis were baselined to develop a pro-forma tool for calculating lenders’ expected ROI from SimpleNexus over time. In 30 seconds, the SimpleNexus ROI Calculator projects SimpleNexus’ impacts on lender profitability, including estimated increases in net income, incremental gains in closed loans, origination cost savings and overall ROI. Users can also request a custom, in-depth ROI analysis.

Black Knight: Loans in Forbearance Rise by 31,000

Black Knight, Jacksonville, Fla., issued its weekly blog showing mortgages in active forbearance rose by 31,000 (1%) over the past week.

Black Knight said the increase was driven by limited extension and removal activity, along with an increase in forbearance starts. The 50,000 forbearance removals last week were the lowest of any week since the recovery began, while the 89,000 extensions were the fewest seen in nine weeks. Some 33,000 new forbearance plans were started over the past week.

In total, Black Knight said forbearance plan starts increased by 15% in October from September, with the rise driven by borrowers reactivating previously expired plans. New forbearance activations are down 7% from September, while re-activations are up 50%. This is most likely in reaction to the large volume of plans than were removed early in the month.

CFPB Issues Final Rule on Records Disclosures, Info Regulation

The Consumer Financial Protection Bureau issued a final rule last week amending its Disclosure of Records and Information Regulation. 

The rule seeks to balance concerns regarding the Bureau’s need to protect confidential personal, business, supervisory and investigative information against the need to use and disclose certain information in the course of the Bureau’s work or the work of other agencies with overlapping statutory or regulatory authority. Specifically, the rule addresses the confidential treatment of information that the Bureau obtains from persons in connection with the exercise of its authorities under Federal consumer financial laws.

The final rule can be found at

TovoData Launches

TovoData, Newport Beach, Calif., providing current, complete and accurate data on 100% of U.S. residential properties in the U.S. through its acquisition of multiple real estate, mortgage and property ownership data sets. The multi-source approach and extensive AI-driven quality checks ensure the acquisition of public record property truth is proven from more than one source. With complete nationwide coverage of assessor, county recorder, property valuation, foreclosure and other derived data, Tovo’s entire real estate database can be licensed in full or in subsets.