Mortgage

The Consumer Financial Protection Bureau, Federal Reserve Board, and Office of the Comptroller of the Currency announced the 2021 threshold for exempting loans for special appraisal requirements for higher-priced mortgage loans.

The calculation for the threshold is based on the annual percentage increase in the Consumer Price Index for urban wage earners and clerical workers as of June 1, 2020.

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Calyx announced its Path loan origination software has been integrated with Marksman, a product and pricing engine offered by Mortech.

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Freddie Mac has partnered with Zest AI, a software company for credit underwriting, to improve its credit decisioning models for managing risk.

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eOriginal announced the release of ClosingCenter 2.3, an update to the company’s cloud-based solution for digital mortgage closing.

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Promontory MortgagePath, LLC announced the additions of Diane Capers and Greg Bruns as regional vice presidents.

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Sagent and Bizzy Labs have partnered to offer an AI-powered engine to assist in automating the compliance process for loan servicers.

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Ellie Mae, now ICE Mortgage Technology, announced the release of Encompass 20.2, which includes enhancements to increase productivity for lending and investing workflows.

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According to the Mortgage Bankers Association’s (MBA) National Delinquency Survey, the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased in the third quarter of 2020.

“Consistent with the improving labor market and the overall economic rebound, homeowners’ ability to make their mortgage payments improved,” Marina Walsh, MBA vice president of industry analysis, said.

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In the Mortgage Bankers Association’s most recent Forbearance and Call Volume Survey, the data showed a decrease in the number of mortgage loans in forbearance.

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The Consumer Financial Protection Bureau issued a consent order against the ninth and final mortgage company in a group that engaged in deceptive loan practices targeting servicemembers and veterans.

According to the order, the company violated the Consumer Financial Protection Act’s prohibition against deceptive acts and practices, as well as other regulations.

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