The Community Home Lenders of America (CHLA) today sent a letter to the Consumer Financial Protection Bureau asking the CFPB to use the Fair Credit Reporting Act (FCRA) to effectively adopt the trigger lead provisions that were just dropped from the National Defense Authorization Act (NDAA) conference report.
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Intercontinental Exchange, Inc., a launched a new integration between Servicing Digital, the company’s web- and mobile-native consumer engagement app, and its Validate property valuation tool. The integration gives servicers’ customers a current estimate of how much tappable equity they have in their homes, and the ability to proactively complete a self-guided valuation of their property.
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Blue Sage is the first loan origination system (LOS) to fully integrate Fannie Mae’s Income Calculator. This API-enabled integration, directly initiated from the LOS, streamlines income calculation for borrowers with income from self-employment or business ownership, enabling faster, more accurate mortgage approvals for lenders.
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Mortgage credit availability decreased in November according to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology.
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SIGNiX, a provider of digital signatures and remote online notarization solutions, launched a new integration with Integra Software Systems, expanding its partnership with TruStage Compliance Solutions. With this integration, financial institutions using Integra’s EPIC platform for mortgage, consumer, and commercial lending can now access TruStage Digital Signatures from SIGNiX directly within their loan origination workflow, creating a secure, end-to-end platform that enhances data protection while potentially saving financial institutions thousands of hours annually.
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Optimal Blue released its November 2024 Market Advantage mortgage data report, highlighting a 25% decrease in month-over-month (MoM) lock volume as interest rates hit their highest levels since early July, creating headwinds for affordability.
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The Community Home Lenders of America (CHLA) sent a letter to Congress urging for higher Senate funding levels for salaries and expenses of Ginnie Mae and the Federal Housing Administration (FHA) for FY 2025.
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ATTOM released its latest Special Housing Risk Report spotlighting county-level housing markets around the United States that are more or less vulnerable to declines, based on home affordability, equity and other measures in the third quarter of 2024. The report shows that California, New Jersey and Illinois once again had high concentrations of the most-at-risk markets in the country, with parts of Florida also joining that mix. Less-vulnerable markets continued to be clustered in the South region of the nation.
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Both the unemployment rate, at 4.2 percent, and the number of unemployed people, at 7.1 million, changed little in November. These measures are higher than a year earlier, when the jobless rate was 3.7 percent, and the number of unemployed people was 6.3 million, which may have implications for the mortgage industry.
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Despite the growing threat of cyberattacks, many companies fail to strengthen their security measures. According to data presented by Cybernews Business Digital Index, 65% of analyzed North American companies scored D or worse for their cybersecurity efforts. Meanwhile, 48% of such companies are in Europe.
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