Residential Briefs

MBA NewsLink Staff

June 14, 2019


Ginnie Mae MBS Outstanding Increases to $2.068 Trillion
Ginnie Mae, Washington, D.C., said issuance of its mortgage-backed securities totaled $39.829 billion in May.

A breakdown of May issuance includes $38.571 billion of Ginnie Mae II MBS and $1.517 billion of Ginnie Mae I MBS, which includes $1.258 billion of loans for multifamily housing. Ginnie Mae's total outstanding principal balance of $2.068 trillion is an increase from $1.960 trillion in May 2018.

Intercontinental Exchange Completes Acquisition of Simplifile LC
Intercontinental Exchange Inc., an operator of global exchanges and clearing houses and provider of data and listings services, announced it completed its acquisition of Simplifile, LC, Provo, Utah, for $335 million.

Simplifile was founded in 2000 and operates a network in 1,941 counties connecting agents and jurisdictions that underpin residential mortgage records. The company serves as an electronic liaison between lenders, settlement agents and county recording offices, streamlining the public recording of residential mortgage transactions. Simplifile will become part of ICE Mortgage Services.

FHFA 2018 Report to Congress Includes Legislative Recommendations
The Federal Housing Finance Agency released its 2018 Report to Congress. In the report, FHFA Director Mark Calabria encourages Congress to act on housing finance reform while also requesting chartering authority similar to the Office of the Comptroller of the Currency.

"There is urgent need for Congress to act on housing finance reform," Calabria wrote. "To promote competition in the marketplace, I encourage Congress to authorize additional competitors and provide FHFA the same powers as other federal financial regulators."

The legislative recommendations outlined in the letter include acting on housing finance reform; increasing competition; and strengthening FHFA's regulatory powers. The report can be accessed at https://www.fhfa.gov/AboutUs/Reports/ReportDocuments/FHFA_2018_Report-to-Congress.pdf.

CFPB to Hold First Symposium June 25
The Consumer Financial Protection Bureau announced its first symposium will take place June 25 at 9 a.m. ET. The symposium, part of a series announced earlier this year, will focus on the Dodd-Frank Act's prohibition on abusive acts or practices. The symposium will be webcast on the Bureau's website.

This first symposium will have two panels of UDAAP experts. The symposium will also include remarks by CFPB Director Kathleen L. Kraninger and CFPB Deputy Director Brian Johnson. The first panel will include a discussion with leading academic experts in the area of Consumer Protection on various policy issues relating to the abusive standard under Dodd-Frank. The second panel will examine how the abusive standard has been used in practice, and will include leading legal experts in the field.

To attend the symposium visit https://consumer-financial-protection-bureau.forms.fm/cfpb-symposium-on-unfair-deceptive-or-abusive-acts-or-practices-udaap-2.

EXOS Technologies, Blend Announce Partnership
EXOS Technologies and Blend announced a partnering to deliver exact real-time appraisal scheduling functionality for lender clients using EXOS Appraisal, a core offering from the EXOS platform.

This integration enables consumers seeking a new mortgage to schedule appraisal appointments by accessing live calendars of licensed appraisers in all 50 states. Borrowers digitally select the exact date and time of their preferred appointment and receive instant confirmation plus a photo of their appraiser and the make and model of their vehicle. By automating appraisal orders and empowering the home buyer to self-serve, lenders can deliver on faster closings.

Wylie and Washburn LLC Selects Pavaso to Offer Digital Real Estate Closings
Pavaso, Plano, Texas, announced Wylie and Washburn LLC has chosen its electronic closing platform to begin offering digital real estate closings.

Wylie and Washburn is a South Carolina-based real estate firm specializing in residential and commercial real estate closings. Pavaso offers a platform for conducting eClosings. By bringing everyone together in the same digital environment, the Pavaso platform enables real-time collaboration, maximizes efficiencies and streamlines the closing process. It also allows consumers to review closing documents and ask questions about the process from the comfort of their home, so they can feel prepared on closing day.

CoreLogic Integrates Income Calculation, Property Tax Estimator Services with LendingQB
CoreLogic, Irvine, Calif., announced its FactCheck income calculation and analysis platform and Property Tax Estimator report are now available on the LendingQB Loan Origination System.

When combined with the previously existing CoreLogic integrations on the LendingQB LOS, Instant Merge credit report, Flood Determination services, LoanSafe reports, income verification and valuation platforms, these two new integrations provide LendingQB users with an end-to-end underwriting service from a single provider.

Fidelity National Financial Adds NotaryCam Remote Notarization Service to Online Closing Options
NotaryCam, Newport Beach, Calif., announced Fidelity National Financial will allow use of NotaryCam to deliver remote online notarization and remote online closing capabilities to FNF's network of direct title and settlement operations, as well as its network of independent title agents. Most recently, FNF used the NotaryCam platform to complete its first remote notarization in Texas.

eClose360 by NotaryCam provides lenders and title/closing agents with a secure, online closing room where they can upload closing documents, meet with signers and return fully executed and compliant documents within an hour. In addition, the system records all transactions to provide a verifiable transaction record for security and compliance purposes.

Volly Launches Point-of-Sale Mobile App, Rebrands CRM Mobile App
Volly, Woburn, Mass., launched a new POS mobile app and a rebranding of the existing CRM mobile app.

The Volly Point of Sale Mobile App gives loan officers the ability to invite borrowers to apply or get prequalified from anywhere, anytime, whether at an open house with a real estate agent partner sitting with prospective buyers or while out at the grocery store. With the mobile app, loan officers can also track loan status, and borrowers can upload documents and view statuses and tasks, and both can communicate directly within the app, making for a seamless experience that is accessible on any mobile device. Loan officers can invite their referral partners to download their lender branded mobile app to easily setup their own account to invite borrower referrals and track a referral's status within minutes.

National MI Integrated with Blue Sage
National Mortgage Insurance Corp., Emeryville, Calif., is now integrated with the Blue Sage Digital Lending Platform, a browser-based, end-to-end mortgage platform built in the cloud. The integration enables lenders to obtain immediate and accurate National MI rate quotes and order delegated mortgage insurance without ever leaving Blue Sage.

The integration brings National MI's innovative, real-time, risk-based mortgage insurance pricing to Blue Sage, a platform that handles all mortgage channels. The integration leverages Blue Sage's application programming interfaces, which enable interoperability between third-party technology providers.

QuestSoft Launches Fair Lending RELIEF to Compliance RELIEF Platform
QuestSoft Corp., Laguna Hills, Calif., launched a fair lending module inside Compliance RELIEF, the company's regulatory reporting and analysis platform. The new Fair Lending RELIEF module enables lenders to actively monitor Home Mortgage Disclosure Act lending performance to identify areas of higher risk.

Fair Lending RELIEF provides an integrated fair lending performance analysis and monitoring tool to assist in identifying potential matched pairs, underwriting and pricing disparities, as well as levels of assistance, steering and redlining risks. Performance analysis includes the ability to interactively review the individual loan records behind the result.

Appraisal Logistics to License AIMPort AMC Software
Appraisal Logistics, Annapolis, Md., announced it will license AIMPort, its proprietary technology platform, to lenders who want to manage some or all of their own appraisal process as well as to other appraisal management companies. The software can be used for residential or commercial valuations and BPO transactions. It is already integrated with many LOS, GSE, FHA and other industry applications.

AIMPort is a single source platform developed to bring management and operations teams, technical tools and vendor partners together. The platform improves workflow efficiency and accuracy in a cost-effective manner to support the lender's own vendor process. The platform offers functionality for vendor management, order process, assignments, tracking, reviewing, delivery reporting and accounting.

Texan Title Taps SafeWire by SafeChain to Provide Protection against Wire Fraud
SafeChain, Columbus, Ohio, said Texan Title has chosen SafeWire to defend its clients' wire transactions against fraud. The blockchain-backed platform will be deployed across Texan Title's family of title companies located across Texas, including South Land Title, Prominent Title, Washington County Abstract, Guaranty Title Company of Grimes County and Security Title.

SafeWire enables title agents to conduct identity verification and account ownership authentication on both the buyer and seller in the real estate transaction to prevent wire transfers to unauthorized parties and/or accounts. As an added safeguard, the platform uses blockchain technology to securely store and transmit wiring instructions.

CoreLogic Launches Marketrac Platinum
CoreLogic, Irvine, Calif., announced availability of the Platinum level of Marketrac, an online portal that provides on-demand data and analysis on real estate transactions to help users gain a competitive edge.

With Marketrac Platinum, lenders and title companies can use the interactive platform to identify top performing real estate agents and brokerage firms to prioritize professional relationships based on market trends. Marketrac users can access information on the top producing loan officers to support their recruiting initiatives.

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