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Originating (1418)

Black Knight: 9.4M Refi Candidates in the Market

Black Knight: 9.4M Refi Candidates in the Market

Wednesday, 29 January 2020
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We remain in an environment where even slight changes in interest rates–in either direction–can have an outsized impact on the number of refinance candidates. Read more...
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CFPB Letter Signals Changes to QM Rule

CFPB Letter Signals Changes to QM Rule

Sunday, 26 January 2020
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Kathy Kraninger, Director of the Consumer Financial Protection Bureau, recently sent a letter to Congress outlining the Bureau’s plan for a revised Qualified Mortgage (QM) Standard. Read more...
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Lawyer Gets One Year in Prison for Mortgage, Tax Scams

Lawyer Gets One Year in Prison for Mortgage, Tax Scams

Thursday, 30 January 2020
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A prominent New Jersey lawyer has been sentenced to one year and one day in prison on his conviction for making false statements in a bank loan application and failing to pay over payroll taxes withheld from employees, according to federal prosecutors. So reports InsiderNJ. Read more...
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Banks That Spend More on Tech Make Better Loans: IMF

Banks That Spend More on Tech Make Better Loans: IMF

Sunday, 26 January 2020
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Banks with bigger information technology budgets fared better during the global financial crisis, according to a new working paper from the International Monetary Fund. So reports Quartz. Read more...
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Ex-Wells Fargo CEO Fined $17.5M for Fake-Accounts Scandal

Ex-Wells Fargo CEO Fined $17.5M for Fake-Accounts Scandal

Tuesday, 28 January 2020
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Former Wells Fargo CEO John Stumpf will have to pay a $17.5 million fine for running the bank while it opened millions of fake accounts. So reports USA Today. Read more...
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Training and Coaching: How to Keep the Right Staffers

Training and Coaching: How to Keep the Right Staffers

Thursday, 23 January 2020
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The second most important management rule is keeping the right people. Thus, the key word here is support. Read more...
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Voice Assistants: The Next Great Tool for Originators

Voice Assistants: The Next Great Tool for Originators

Wednesday, 22 January 2020
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While artificial intelligence is often referenced in the media and trade papers, AI sounds more like something from Star Trek and not a practical tool for helping salespeople. Nothing could be further from the truth, especially considering the rampant growth of voice-controlled technology. In 2019, there were an estimated 3.25 billion digital voice assistants in… Read more...
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What Will the Future of Underwriting Look Like?

What Will the Future of Underwriting Look Like?

Friday, 24 January 2020
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Imagine a future where mortgage origination happens in a matter of hours. Even though it might take some time, technology is rapidly progressing, and this future might be closer then you think. [caption id="attachment_14060" align="alignright" width="232"] J. Christian Olin, Vice President, Direct Lending, On Q Financial[/caption] Read more...
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Visa Buys Fintech Startup Plaid for $5.3B

Visa Buys Fintech Startup Plaid for $5.3B

Tuesday, 21 January 2020
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Visa has agreed to buy Plaid in a $5.3 billion deal, the companies have announced. The startup provides some of the financial plumbing for fintechs and has a mortgage industry presence. Read more...
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CFPB Sues Monster Loans for Abuse of Credit Reports

CFPB Sues Monster Loans for Abuse of Credit Reports

Sunday, 19 January 2020
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The Consumer Financial Protection Board (CFPB) has sued mortgage lender Monster Loans for allegedly obtaining consumer report information unlawfully and giving it to companies hawking debt relief for student loans, the agency has announced. Read more...
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