News

Which companies are merging, and what professionals are moving? See some highlights in this update of the housing and mortgage industries.

The Trump administration has yet to fill many gaps in the Department of Housing and Urban Development and other positions that affect the mortgage industry. See which positions are vacant and who is planned to fulfill the roles.

Paradatec, Inc., based in Cincinnati, Ohio, announced Thursday its WriteUCD module has been verified as a technology integration vendor for Freddie Mac’s Loan Advisor platform as it satisfies the requirements of the GSE’s Uniform Closing Data files. A provider of optical character recognition solutions, Paradatec’s WriteUCD takes data from mortgage closing disclosure documents “in mere seconds per page” and then transfers it to the new required format. In fact, Paradatec claims to provide “quick and accurate identification of over 500 unique documents in the typical mortgage file,” and it is adapting to new industry standards.

The move to the digital world is quickly becoming a priority item for the mortgage finance industry, and machine learning can play an important role in helping servicers and lenders stay current with regulatory standards and compliance.

Ed Delgado, President and CEO of the Five Star Institute, was announced as a featured presenter at the upcoming National Property Preservation Conference that will take place in Baltimore, Maryland from November 7-9, where he will talk about prevalent market conditions

Wells Fargo CEO Tim Sloan addressed his team on Tuesday to share the measures the bank is taking to amend the harm done in previously opening unauthorized accounts. See how Sloan plans to rebuild trust in Wells Fargo stakeholders.

In December 2016, then incoming Treasury Secretary Mnuchin boldly stated the Trump administration would employ the “largest tax change since Reagan.” However, that change could come with significant adjustments to the mortgage interest deduction, something that sparks mixed emotions across the country.

The private mortgage insurance industry effectively works to reduce risk to the mortgage market, and soften the blow when defaults do occur. But the industry is struggling, and a new report is looking at ways it can branch out as it looks to the future and how to more effectively work with the GSEs.

HUD Secretary Ben Carson attended a conference recently to discuss the responsibilities HUD and its Office of Native American Programs have to create equality for America’s indigenous people. Take a look at what Carson had to say here.

Arch Mortgage Insurance Company and OpenClose announce Monday an integration aimed at providing “more competitive, sophisticated and dynamic MI pricing solution than conventional rate sheets,” according to Chris Hovey EVP and COO at Arch MI. Arch MI, the flagship private mortgage insurance provider of Greensboro, North Carolina-based Arch Capital Group, and West Palm Beach, Florida-based OpenClose, are collaborating to offer Arch MI RateStar pricing information within the OpenClose LenderAssist loan origination system.