May 3, 2017 // Collingwood Group
Situs, the premier global provider of strategic business and technology solutions to the real estate finance industry, today announced the completion of its acquisition of The Collingwood Group (“Collingwood”), a Washington, DC based advisory firm led by the former head of FHA, and partners who have held senior leadership positions in HUD, Fannie Mae, Freddie Mac, and FHFA, focused on housing policy and regulation.
April 4, 2017 // PRWEB
FinLocker today announced they have hired Bob Hoffman as VP of Customer Success, where he will oversee management of all customer delivery, support, and on-going client success.
March 8, 2017 // PRWEB
FinLocker, a financial data and analytics company, today announced a connector relationship with Equifax Inc., a global information solutions provider.
February 3, 2017 // EQ
The move toward digitization and a paperless mortgage process to create efficiencies, manage risk, reduce costs and improve the borrower experience has been under way in the mortgage industry for a while.
January 18, 2017 // EQ
Fannie Mae recently launched a validation service powered by Desktop Underwriter® (DU®) that integrates verified consumer information from Equifax into its automated underwriting system, offering lenders an end-to-end income and employment verification solution. This includes instant income and employment verifications obtained via The Work Number® database and those that Equifax completes manually on a lender’s behalf. The DU validation service also incorporates validated income that has been reported to and received by the IRS via the Equifax 4506-T tax transcript service.
December 21, 2016 // EQ
If you’ve ever gone through the process of getting a loan of significant value, you know the tedious amount of paperwork that you have to collect and hand over to your lender. You probably also know about the inevitable phone call that comes a couple of days (or weeks) later, letting you know that you forgot to include that one really obscure piece of information, and now you need to include a new copy of your two most recent pay stubs because the previous ones are no longer the most recent.
December 19, 2016 // prweb
Earlier this month the Digital Mortgage 2016 conference debuted innovative technologies that improve the borrower experience, but what about technology to help mortgage companies process and underwrite loans faster with fewer people.
December 16, 2016 // Finlocker, LLC.
FinLocker today announced they have hired mortgage industry veteran Mike Atwell as their new VP of Sales to run and manage their national sales channel for the company. With over 25 years of business development and sales leadership roles in mortgage banking, Mike has been involved in building and managing companies specifically on the retail production side earlier in his career for companies such as IndyMac and Prospect Mortgage and then also helped launch and grow a startup lender/servicer called Generation Mortgage, a reverse mortgage lender, where he was the First VP managing the national sales channel for the company. In more recent years he was the Sales Director in the financial technology space where he worked with lenders nationally on providing a business intelligence SaaS platform for improved efficiencies and tracking of performance metrics for those organizations. Although originally a Washington, DC native, Mike has lived in Denver since 1995 with his family.
April 1, 2016 // eOriginal, Inc.
Fannie Mae named eOriginal an eMortgage technology solution provider after it completed integration testing for eNote, eClose and eVault capabilities.
March 30, 2016 // eOriginal, Inc.
eOriginal, Inc., the experts in digital transaction management, today announced an expansion of its Digital Mortgage Platform with the addition of seven major new partners who fill critical roles in the end-to-end process. The platform features the industry’s first truly open, plug-and-play digital mortgage platform.
August 9, 2015 // Collingwood Group
White paper finds market conditions leave mortgage industry vulnerable to major disruption. The paper exposes a group of innovators that are finding new ways to empower and delight consumers while increasing profitability at all stages of the mortgage process.
April 22, 2015 // Kelly Grote
SixThirty, a St. Louis-based accelerator program that invests in and provides mentoring and connections to financial technology (FinTech) startups, announces its Spring 2015 Cohort. The 2015 Spring Cohort includes: FinLocker, Bandura, Davo Technologies, New Constructs, PFITR, and Rippleshot.
May 8, 2015 // Tim Stern (VidVerify & FinLocker Co-Founder)
The consumer financial services industry has undergone a dramatic transformation over the past ten years, facing challenging business environments, landmark financial reform and an evolving credit market. The mortgage market is experiencing technological change.
April 21, 2015 // Ari Karen
Fannie Mae and Freddie Mac have begun playing for keeps when it comes to compliance, and this appears to be an upcoming challenge for many lenders.
March 17, 2015 // The Collingwood Group
In Collingwood’s September 2014 Mortgage Industry Outlook Survey, 89% of our survey respondents told us that regulations are hurting their businesses. Lenders, servicers and other mortgage industry players told us that compliance with new rules and unpredictable enforcement actions creates anxiety and unnecessary expense.
March, 2015 // The Collingwood Group
Housing and mortgage industry professionals say Fannie Mae and Freddie Mac overhaul is needed but won’t happen now.
May 11, 2015 // Edward A. Wilmesherr
We have now been operating for close to 16 months under the effect of the Ability to Repay and Qualified Mortgage Rules, and the results thus far look like a mixed bag. Some banks (not many) are originating on Qualified Mortgages, either priced to give them a rebuttable presumption or safe harbor status for compliance with the Ability to Repay.
April 24, 2015 // Lou Giserman
“Why are so many younger Americans renting rather than owning?” That’s what Westwood One Radio’s host Dirk Van asked Collingwood’s Chairman Tim Rood in an interview about millennials and the housing market.
December 1, 2014 // Nafisul Hasan
For a bank to effectively achieve true customer centricity, it must take a close look at its technology infrastructure. Today’s customers have high expectations when it comes to the customer experience. Fueled, in part, by the anytime-anywhere access and personalized experience they’ve come to expect from their favorite retailers, consumers are bringing these same expectations to their banking relationships.
November 26, 2014 // Brandon Cornett
New government rules have mortgage lenders checking, and double-checking, the income status of borrowers. Now more than ever, lenders want to ensure that homebuyers have the ability to repay their loan obligations. It’s a sign of the times. So, how much do you need to earn to buy a house these days? Here’s an updated look at mortgage requirements for 2015, and the government rules that are influencing them.
November 24, 2014 // Ari Karen
Far too many lenders are relying on inadequate and outdated qualified mortgage practices, reports Mr. Karen, who warns that such approaches are bound to lead to legal trouble. Two years of bank statements, or even a residual income analysis—when not used in conjunction with any other documentation—will offer little to no legal protection to lenders. So how should a lender safely originate a QM loan?
November 7, 2014 // Ari Karen
There have recently been some large data breaches of consumer information that have made the news. Less known, there have been numerous examples of physical loan files being stolen from mortgage banks for the apparent purpose of identity theft.
October 15, 2014 //
The Single-Family Seller/Servicer Guide Bulletin announces revisions to our Mortgage eligibility and credit underwriting requirement to permit third-party asset verifications. (This policy change is similar to the existing income and employment verification policies in the Selling Guide). The policy change is effective immediately.
September 30, 2014 //
The Selling Guide currently provides two documentation options for verifying deposit and asset accounts. Fannie Mae has updated its policy to accept third-party vendor verifications of asset and depository information. (This policy change is similar to the existing income and employment verification policies in the Selling Guide). The policy change is effective immediately.
September 30, 2014 //
PennyMac issued Announcement 14-54 titled “Clarification Regarding Acceptable Sources of Verification of Assets”. PennyMac clarified the acceptable sources for verification of assets when documentation is needed to verify a borrower has sufficient funds per program requirements.