Compliance

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.

The Consumer Financial Protection Bureau (CFPB) proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new protections against companies misusing their data. The proposed Personal Financial Data Rights rule activates a dormant provision of law enacted by Congress more than a decade ago.