At the recently concluded MISMO Spring Summit–which set an attendance record for the organization–two related themes emerged during many of the event’s “Going Digital” sessions. Experts throughout the four-day event agreed that technology adoption and data trust are two business challenges that must be solved so the industry can truly “go digital” and realize the benefits that come along with it.
Category: News and Trends
Paul Anselmo of Evolve Mortgage Services: Defragmenting the Digital Closing Process
Paul Anselmo is CEO and founder of Evolve Mortgage Services, Frisco, Texas, a provider of outsourced mortgage platforms. He has more than 30 years of experience in the banking and mortgage industries. Previously he served as president, CEO and founder of Mortgage Resource Network (MRN), a business process outsourcer and technology provider to the mortgage industry.
Share of Mortgage Loans in Forbearance Slightly Decreases
Loans in forbearance fell for the twenty-second consecutive week, the Mortgage Bankers Association said on Monday.
MISMO’s Jan Davis Receives HousingWire Woman of Influence Award
MISMO®, the real estate finance industry’s standards organization, announced Vice President of Operations Jan Davis received a HousingWire 2021 Woman of Influence award.
FHFA, FHA Extend Single-Family Eviction Moratoria through Sept. 30
The Federal Housing Finance Agency and the Federal Housing Administration on Friday extended their eviction moratoria through Sept. 30 for foreclosed borrowers and other occupants.
CFPB: Credit Applications Mostly Recovered to Pre-Pandemic Levels
The Consumer Financial Protection Bureau published an issue brief showing consumer applications for auto loans, new mortgages and revolving credit cards had mostly returned to pre-pandemic levels by May.
J.D. Power: Mortgage Servicers Get High Marks; Nonbanks Gain Traction
J.D. Power, Troy, Mich., said mortgage servicers earned high levels of customer satisfaction during the pandemic, but warned as loan forbearance programs come to an end and more normalized customer interactions resume, traditional banks are starting to lose their edge over non-bank lenders.
MBA Supports CSBS Prudential Standards for Nonbank Mortgage Servicers
Last Tuesday the Conference of State Bank Supervisors released model state regulatory prudential standards for nonbank mortgage servicers. MBA President and CEO Bob Broeksmit, CMB, immediately expressed support for the standards.
MBA, Trade Groups Urge Senate Confirmation of Julia Gordon as FHA Commissioner
The Mortgage Bankers Association and nearly three dozen industry trade groups sent a letter to Senate leadership urging confirmation of Julia Gordon as HUD Assistant Secretary for Housing and Commissioner of the Federal Housing Administration.
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“Forbearance exits remained low, and there was another increase in new forbearance requests, particularly for Ginnie Mae and portfolio and private-label securities loans. The net result was another slight decline in the share of loans in forbearance.” –MBA Senior Vice President and Chief Economist Mike Fratantoni.