Residential Briefs

MBA NewsLink Staff

April 25, 2019

Freddie Mac Updates Investor Reporting Change Initiative
Freddie Mac, McLean, Va., announced its Investor Reporting Change Initiative will revise Single-Family investor reporting requirements, including moving the investor reporting cycle from mid-month to end-of-month and updating remittance cycles.

The company is making the changes to promote alignment and industry standards for the Uniform Mortgage Backed Security. IRCI updates will be effective beginning with the June 6 monthly factor/disclosure for all currently issued PCs. This initiative will also apply to the new Freddie Mac UMBS and MBS, which Freddie Mac expects it will begin issuing on June 3.

RoundPoint, Compass Analytics Complete Loan-Level Cash Flow Co-Issue Price, Commit APIs
RoundPoint Mortgage Servicing Corp., Charlotte, N.C., and Compass Analytics, San Francisco, announced an Application Program Interface to provide cash flow based, loan-level servicing release premiums co-issue bids.

Compass Analytics added automated loan-level SRP co-issue bids to its library of APIs and bid automation. RoundPoint will private-label Compass' API and bid-automation offerings to integrate and automate their co-issue bids and commitments to the industry. Lenders, through their internal systems, hedge advisors or LOS systems can now integrate to RoundPoint to receive and commit live co-issue SRPs as part of their best execution processes. Sellers or their partners can employ the same work flow currently employed by the industry for mini-bulk bidding and beginning June 10th, will also have the option of integrating into RoundPoint's BidStream API.

Hightide Settlement Services Begins Offering eClosings through Pavaso
Hightide Settlement Services LLC, a provider of title and settlement services, is now offering eClosings through Pavaso, Plano, Texas. A provider of digital mortgage closing technologies.

Pavaso expands the range of options available to Hightide customers and helps deliver faster, more convenient closings. The Pavaso platform breaks down traditional silos and brings everyone in the home buying transaction together in the same digital environment, where they can communicate, collaborate and securely exchange information throughout the entire closing process.

Ally Financial Partners with
Ally Financial Inc., Sandy, Utah, announced a partnership with to create a new digital experience for consumers looking for a mortgage loan from Ally.

In addition to the partnership, strategic-investment arm Ally Ventures has announced an add-on investment to's recent Series C funding, increasing Ally's overall ownership in the company. In this two-fold relationship, the online-only bank will combine capabilities with to further Ally's position as a leading digital financial services company.

Continuity: Banking Compliance Index Remains Steady in Q1
Continuity, New Haven, Conn., released the Q1 2019 Banking Compliance Index, showing it held steady in the first quarter, remaining on par with levels experienced in the past two years.

"This quarter's regulatory activity was in line with what we saw in the two preceding first quarters, so we're starting to identify what is typical in this pro-business administration," said Pam Perdue, Continuity's chief regulatory officer. "Even though regulatory change still consumes considerable human and financial resources, the pace of new regulation has slightly leveled off. Now is the time for institutions to capitalize on this trend and take advantage of this opportunity to approach compliance management intentionally and strategically instead of merely reacting to changes."

Radian Offers Mortgage Insurance Pricing through Compass Analytics
Radian Guaranty Inc., Philadelphia, announced Radian MI is now available directly through Compass Analytics' product, pricing and eligibility engine, Compass. This integration is helping ensure customers receive Radian's MI rates. Lenders and loan officers can view precise, side-by-side comparisons of Radian's MI products in one transaction.

Through CPPE, Radian offers pricing for a standard rate card, as well as RADAR Rates, Radian's more granular MI pricing option that allows lenders to search with each rate quote is tuned to their borrower's individual risk profile and loan attributes.

SafeChain Announces Founding Title Partners in Blockchain Network
SafeChain, Columbus, Ohio, in partnership with nine independent title agents in Ohio, launched a blockchain-backed network that enables peer-to-peer transfers of prior title insurance policies to streamline the title search process and drive down costs for member agencies.

The new network allows independent agents to share prior policies, rewarding contributing agents for policies accessed. Agents have the ability to set the price of their policies as well as customize which underwriters and agents they want to view in their search results. While member agents will maintain governance of the network upon completion, SafeChain will act as the network operator while the project is being built and will gradually relinquish control over to independent agents over the course of the next few years.

Urban Land Institute Paper Examines Shortage of For-Sale Housing Accessible to Moderate-Income Buyers
The Urban Land Institute, Washington, D.C., issued a new report, Attainable Housing: Challenges, Perceptions and Solutions.

The study comprises real estate economic data and two surveys: a national consumer preference survey, conducted by RCLCO, and a survey of ULI's Community Development Council members, a group of real estate leaders who share best practices in the planning, financing and development of both traditional and non-traditional master-planned communities throughout the U.S.

The RCLCO survey found that consumers at all income levels value location and amenities more than large homes or lower-density housing. Although they want typical amenities such as a fitness center and trails, package receiving (for e-commerce) and nearby arts and culture activities are considered "very" or "somewhat" important, a finding that tracks closely with trends outlined in ULI's latest Emerging Trends in Real Estate report.

BAI Launches Training Insights for Compliance Training
BAI, Chicago, launched BAI Training Insights, a new tool in the BAI Learning Manager designed to help financial services leaders develop and document training plans more efficiently and effectively.

BAI Training Insights is designed to equip leaders with the ability to identify the appropriate amount of training for specific roles, enabling regulatory training to be easily curated for each position within the organization, saving significant time spent training. It also provides clear documentation to help leaders minimize risk and prepare for regulatory examinations.

Verus Mortgage Capital Launches Newly Redesigned Website
Verus Mortgage Capital, Washington, D.C., launched a new website designed to improve site visitors' overall online experience. The new website,, includes a blog that offers relevant non-QM information.

Former Waterstone CEO Launches Novus Home Mortgage
Eric Egenhoefer announced he has joined Panorama Mortgage Group as a co-managing partner, and launched Novus Home Mortgage, Waukesau, Wis., as a new brand of the company.

Novus Home Mortgage is a nationwide residential mortgage lender created to deliver a simplified loan process to consumers. It offers a suite of conventional, government and specialty mortgage loans for both home purchases and refinances, and is licensed to do business in more than 35 states. Egenhoefer will serve as CEO.

Panorama Mortgage Group's brands include Alterra Home Loans, Legacy Home Loans and Inspiro Financial.

Incenter Launches eMSR Platform
Incenter LLC, Denver, a provider of lender services, capital markets, technology and technology infrastructure and information security services, announced that through IMA's web based automation platform eMSR, co-issue sellers and buyers can compete with daily mandatory aggregator bid programs through Spot Bulk capabilities.

The IMA eMSR platform allows sellers to see spot bulk MSR bids to combine with their agency pricing. Seller can run MSR Best Ex on their current MSR take outs and incorporate in both loan level, or aggregate bulk MSR bids, to determine the best MSR partner for them to deliver the MSR. Buyers can see actual loan level information and determine if the actual profile warrants any price adjustments from their standard co-issue grid for that particular seller.

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