Compliance

Ncontracts, a provider of integrated compliance, risk, and vendor management solutions to the financial services industry, is pleased to announce the release of a new book, The Upside of Compliance: Empowering Financial Institutions to Thrive.

DLS Servicing and WaterfallCalc published a free white paper detailing how one of the nation’s largest mortgage servicers leveraged automated technology to successfully adopt the FHA Payment Supplement Agreement (PSA) and the VA Veterans Assistance and Support Program (VASP). The white paper, “Automating VASP and FHA PSA Compliance,” also examines how early adoption of these programs can help lenders reduce default rates and improve borrower satisfaction rates.

MBA’s President and CEO Bob Broeksmit, CMB, released the following statement after Senate Armed Services Committee Chairman Jack Reed (D-RI) and Ranking Member Roger Wicker (R-MS) included Senate Amendment 2358, the text of the MBA-supported bill to end the abusive use of mortgage trigger leads (“Homebuyers Privacy Protection Act”), as part of their managers’ amendment to the Senate’s Fiscal Year 2025 National Defense Authorization Act (NDAA):

MBA’s President and CEO, Bob Broeksmit, CMB, issued the following statement following Federal Reserve Vice Chair Michael Barr’s speech outlining recommendations to re-propose the Basel III Endgame proposal: 

Kriss Law/Atlantic Closing & Escrow (“KL/ACE”), a national, attorney-driven settlement services firm, has launched a support initiative for real estate and mortgage lending professionals nationwide in the wake of the pending NAR commission lawsuit settlement, which many believe will dramatically change the realty landscape.

The American Bankers Association (ABA), Housing Policy Council (HPC) and Mortgage Bankers Association (MBA) issued the following statement in response to the Consumer Financial Protection Bureau’s (CFPB) Request for Information (RFI) released today on mortgage closing costs:

Cornerstone Servicing, a leading third-party subservicer and a division of Cornerstone Capital Bank, SSB, has selected Bizzy Lab’s proprietary compliance technology, Libretto, to perform daily exception processing on its servicing portfolios. The first Bizzy Labs client using Black Knight’s MSP mortgage servicing system, Cornerstone Servicing will also market Libretto as a selling feature to its subservicing clients and prospects.

BSI Financial Services, a mortgage fintech platform, and its affiliate, Bizzy Labs, announced a major enhancement to Bizzy Labs’ compliance technology, Libretto, that further streamlines and automates the loan boarding process, particularly for MSR acquisitions.

BaseCap Analytics, a provider of technology that empowers organizations to ensure data integrity and maximize automation, announces a pilot with Cenlar FSB, the nation’s leading mortgage subservicer, to enhance its compliance, increase its leverage of newly available technology and deliver a better experience for homeowners.

CondoTek and Mortgage Guaranty Insurance Corporation (MGIC), the principal subsidiary of MGIC Investment Corporation (NYSE: MTG), have launched a new All-In-One Condominium Compliance solution available through CondoTek.