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Tag Archives: Compliance

LRES Brings PennyMac on as New Valuation Services Client

LRES, a national provider of commercial and residential valuations and asset management, announced it is now serving the retail lending division of California-based PennyMac Financial Services. As part of its services for PennyMac, LRES is managing appraisals that comply with all USPAP requirements as well as all state and federal appraiser independence regulations for the company's customers.

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Marketing Compliance Expert Joins Lenders Compliance Group

Lenders Compliance Group Inc. announced the appointment of Michael J. Wallace Esq. to the position of director of marketing compliance. Wallace has spent more than 20 years counseling clients on federal and state industry laws and regulations regarding mortgage acts, practices, and marketing.

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QuestSoft Certifies Acceptance of Seven e-Signature Providers

QuestSoft Corp., a provider of automated mortgage compliance software headquartered in Laguna Hills, California, announced it has added e-signature gateways from six providers, broadening options for customers using the company's IRS 4506-T and Social Security Administration SSA-89 verification services.

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Execs from Lending Community Hash Out QM Questions

When it comes to next year's regulatory obstacles, CEOs and senior executives from the mortgage industry's biggest players agree on one thing: Education will be key to keeping business going smoothly. In a panel at the 2013 Realtors Conference and Expo, high-level names from Quicken Loans, Wells Fargo Home Mortgage, JPMorgan Chase, and Bank of America discussed the qualified mortgage (QM) guidelines, which go into effect in January 2014.

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Panel: Lenders, Not Vendors, Responsible for Accurate Appraisals

A recent bulletin from the Office of the Comptroller of the Currency (OCC) recommends new guidelines for national banks and federal savings institutions regarding their third party vendors, including appraisal management companies (AMCs). Banks and mortgage lenders are cautioned to choose their appraisers and other vendors wisely, as regulators will hold lenders accountable of the quality and accuracy of their vendors' work.

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Indecomm’s eRecording Service Available in More Than 500 Counties

Indecomm Global Services is now offering eRecording to lenders and title agents in more than 500 counties nationwide. The company passed the 500-county mark with the recent addition of all Hawaiian counties to the Indecomm eRecording roster. The company already offers paper recording in all U.S. jurisdictions.

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Clayton Holdings Announces Executive Appointments

Clayton Holdings, LLC, a provider of loan due diligence, surveillance, and consulting services to the mortgage industry, announced Monday that Joe D'Urso has been named president and COO of the company, effective immediately. D'Urso will oversee all of Clayton's U.S. business units. In addition, Lorenz Schwarz has been named president of Clayton's Green River Capital business unit in addition to his current role of the business unit's COO.

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Mortgage Connect VP Named as Chief Strategy Officer

Mortgage Connect has appointed its VP of sales to the newly created role of chief strategy officer. Cristy Ward has worked in the mortgage industry for 17 years and in that time has earned a reputation as a problem solver who develops innovative, tailored solutions for complex problems.

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DocuTech Integrates Veri-Tax Verification Solutions

DocuTech Corp., a compliance and documentation technology company headquartered in Idaho, has partnered with Veri-Tax to automate the 4506-T IRS verification process in its flagship software ConformX. The company says this technology enhancement will help lenders to simplify the disclosure process while ensuring compliance with consumer protection regulations.

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MISMO Committee Elects Wells Exec as New Chairman

The Residential Standards Governance Committee of the Mortgage Industry Standards Maintenance Organization (MISMO) has elected Randy Gilster as its chairman. Gilster, a 20-year financial services veteran, is SVP of business capability development at Wells Fargo Home Mortgage.

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