A pair of recently created consulting firms seek to shift lender thinking to make compliance a front-of-mind target, not merely a cost center. https://www.nationalmortgagenews.com/news/two-new-compliance-firms-on-helping-to-save-mortgage-lenders-money
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ICE’s Encompass impacted by CrowdStrike incident
The Department of Housing and Urban Development and the Nationwide Multistate Licensing System also reportedly had disruptions. https://www.nationalmortgagenews.com/news/ices-encompass-down-following-crowdstrike-incident
Mortgage activity falls for second straight week
Both purchase and refinance applications dropped, with borrowers potentially holding out for lower mortgage rates later this year, according to the Mortgage Bankers Association. https://www.nationalmortgagenews.com/news/mortgage-activity-cools-for-second-straight-week
End title waiver pilot, state attorneys general letter to FHFA says
A group of 14 state attorneys general, led by Tennessee, joined the chorus of opposition to the Fannie Mae pilot to not require title insurance on certain refinances https://www.nationalmortgagenews.com/news/end-title-waiver-pilot-state-attorneys-general-letter-to-fhfa-says
Fears about Freddie second lien program overblown, analyst says
If approved by the Federal Housing Finance Agency, the program will not lead to large amounts of home equity being extracted, nor is it mission creep, wrote Keefe, Bruyette & Woods analyst Bose George....