HMDA

Redfin Report: The Pool of People Taking Out Mortgages In America Is Becoming Less White

Retrieved on: 
Friday, May 3, 2024
Residential Building & Real Estate, Fintech, Construction & Property, Professional Services, Brookings Institution, Bangladesh Technical Education Board, Fertility, Data, HMDA, Home Mortgage Disclosure Act, Death, Ageing, COVID-19, Growth, Real estate

While that’s a far higher share than any other group, it’s down from 64% in 2022 and 70.4% in 2018.

Key Points: 
  • While that’s a far higher share than any other group, it’s down from 64% in 2022 and 70.4% in 2018.
  • Meanwhile, the share of new mortgages taken out by Hispanic buyers increased to 14% in 2023 from 12.6% in 2022 and 11% in 2018.
  • “The pool of homebuyers taking out mortgages is becoming less white because America is becoming more diverse, and many people of color are in their prime homebuying years,” said Redfin Senior Economist Elijah de la Campa.
  • White people took out 1,582,643 mortgages in 2023, down 22.1% from a year earlier and down 31.3% from 2018.

UWM Celebrates Mortgage Broker Market Share Hitting 15-year High

Retrieved on: 
Monday, March 11, 2024
Professional Services, Other Construction & Property, Residential Building & Real Estate, Finance, Construction & Property, Personal Finance, UWM, IMF, HMDA, United Wholesale Mortgage, Growth, Real estate

United Wholesale Mortgage (UWM), the #1 overall mortgage lender in America, is celebrating a significant leap in market share for the mortgage broker channel, commanding 24.3% in Q4 2023, according to recent data from Inside Mortgage Finance (IMF).

Key Points: 
  • United Wholesale Mortgage (UWM), the #1 overall mortgage lender in America, is celebrating a significant leap in market share for the mortgage broker channel, commanding 24.3% in Q4 2023, according to recent data from Inside Mortgage Finance (IMF).
  • Mortgage Broker market share has steadily been on the rise for years, making substantial strides in the last few years.
  • This is the highest broker market share since 2009.
  • "Mortgage broker market share hitting a 15-year high is not only an outstanding achievement, it is a testament to the care, commitment and passion brokers across the country pour into putting their borrower’s needs first,” said Mat Ishbia, President and CEO of UWM.

RiskExec® by Asurity® Announces Preliminary Modified LARs for HMDA 2023 Available to Users

Retrieved on: 
Wednesday, March 27, 2024
Consumer, Logic, Software as a service, Geocode, Home Mortgage Disclosure Act, CFPB, Lars, HMDA, Credit union, Real estate

WASHINGTON, March 27, 2024 /PRNewswire/ -- RiskExec, Inc. ("RiskExec") a subsidiary of Asurity Technologies®, LLC ("Asurity"), is pleased to announce the availability of the Preliminary Modified Loan Application Registers (LARs) for Home Mortgage Disclosure Act (HMDA) 2023 submission data.

Key Points: 
  • WASHINGTON, March 27, 2024 /PRNewswire/ -- RiskExec, Inc. ("RiskExec") a subsidiary of Asurity Technologies®, LLC ("Asurity"), is pleased to announce the availability of the Preliminary Modified Loan Application Registers (LARs) for Home Mortgage Disclosure Act (HMDA) 2023 submission data.
  • The Consumer Financial Protection Bureau (CFPB) has recently deposited this data in the public domain, and RiskExec has swiftly downloaded and verified the information.
  • "With the Preliminary Modified LARs now available, RiskExec users can gain valuable insights into originations, lending trends, and top lenders' performance in 2023."
  • RiskExec is conducting in-depth reviews and three-year trending analyses to offer users a more detailed understanding of market dynamics and performance metrics.

HousingWire recognizes Wolters Kluwer in 2024 Tech100 Mortgage honorees list

Retrieved on: 
Friday, February 23, 2024
Software, Banking, Accounting, Professional Services, Fintech, Other Construction & Property, Technology, Residential Building & Real Estate, Construction & Property, Urban Planning, Finance, Consulting, Wolters Kluwer, Government, HMDA, Moir, Home, IDS, Organization, Automation, EVault, Housing, Real estate

Wolters Kluwer Compliance Solutions has been named a winner of the HousingWire 2024 Tech100 Mortgage Award , which recognizes the most innovative technology companies in the U.S. housing economy.

Key Points: 
  • Wolters Kluwer Compliance Solutions has been named a winner of the HousingWire 2024 Tech100 Mortgage Award , which recognizes the most innovative technology companies in the U.S. housing economy.
  • “Wolters Kluwer continues to innovate in loan compliance technology and services, from origination to monetization,” said Simon Moir , Vice President, Banking Compliance Solutions, Wolters Kluwer Compliance Solutions.
  • The company’s eVault technology has helped Wolters Kluwer become the established national leader in first mortgage eNotes.
  • Now in its 12th year, the HousingWire Tech 100 program provides housing professionals with a comprehensive list of the most innovative and impactful organizations in the industry.

Wells Fargo Bank Class Action Alleges Lending Discrimination: Wells Seeks More Time to Respond to Plaintiffs' Experts, According to Ellis George Law Firm

Retrieved on: 
Wednesday, March 6, 2024
SAN, Wells Fargo, Bloomberg, Plaintiff, Skin, CFPB, HMDA, Behavior, Home, White, Federal, CNBC, Consumer, African Americans, Immunity, Crump, Insurance

Wells Fargo's motion asks Judge Donato to provide it with three (3) additional weeks to respond to the Plaintiffs' experts.

Key Points: 
  • Wells Fargo's motion asks Judge Donato to provide it with three (3) additional weeks to respond to the Plaintiffs' experts.
  • The lawsuit follows reporting by Bloomberg on March 10, 2022, that " Wells Fargo Denied More than Half Its Black Applicants in Refinancing Boom .
  • Wells Fargo, headquartered in San Francisco, is no stranger to allegations regarding its lending practices, including discrimination.
  • Ellis states that this claim is eerily similar to what Wells Fargo has alleged in the lawsuit before Judge Donato.

Comerica Bank Achieves 'Outstanding' Rating in Community Reinvestment Act Evaluation by the Federal Reserve Board

Retrieved on: 
Thursday, February 29, 2024
CRA, Corporate responsibility, LMI, Federal, Small business, Comerica, Economic development, Community, Federal Reserve, Investment, HMDA, Bank

"Comerica Bank is committed to serving our communities and we are honored to have earned an Outstanding CRA rating," said Wendy Bridges, Comerica Bank Executive Vice President, Corporate Responsibility.

Key Points: 
  • "Comerica Bank is committed to serving our communities and we are honored to have earned an Outstanding CRA rating," said Wendy Bridges, Comerica Bank Executive Vice President, Corporate Responsibility.
  • "We elevated how we support and serve individuals and businesses, as well as boost economic development in our footprint in recent years.
  • We look forward to carrying this momentum into our milestone 175th anniversary year and beyond."
  • The Community Reinvestment Act (CRA), enacted in 1977, requires the Federal Reserve and other federal banking regulators to encourage financial institutions to help meet the credit needs of the communities in which they do business, including LMI neighborhoods.

Consolidated Analytics Announces loanDNA Origination and Servicing QC Platform

Retrieved on: 
Thursday, February 15, 2024
Panorama, QC, Origination (telephony), RESPA, Risk, HMDA, Medical device

SANTA ANA, Calif., Feb. 15, 2024 /PRNewswire/ -- Consolidated Analytics (CA), a leader in innovative mortgage solutions, is proud to announce the expansion of loanDNA, its intelligence-based platform for Origination and Servicing Quality Control.

Key Points: 
  • SANTA ANA, Calif., Feb. 15, 2024 /PRNewswire/ -- Consolidated Analytics (CA), a leader in innovative mortgage solutions, is proud to announce the expansion of loanDNA, its intelligence-based platform for Origination and Servicing Quality Control.
  • The loanDNA platform already saves time in bookmarking and data extraction for due diligence; now, it will help transform lenders' and servicers' quality control processes, ensuring efficiency, accuracy, and compliance in loan origination and mortgage servicing operations.
  • CA's loanDNA platform addresses these challenges, empowering clients to streamline their QC workflows with less reliance on manual processes to mitigate risks and save time and money.
  • Commenting on the loanDNA expansion, Arvin Wijay, CEO at Consolidated Analytics, stated: "Our loanDNA platform offers access to data-driven portfolio intelligence.

Asurity Technologies® Expands Its Ecosystem of Financial Services Regulatory Offerings by Establishing Asurity Advisors, LLC

Retrieved on: 
Thursday, February 8, 2024
Ecosystem, Software, HMDA, CRA, Software as a service, Regulatory technology, CMS, Senior, Knowledge, Financial services

In addition, the team stands ready to deliver outsourced services enabling institutions to meet pressing and time sensitive compliance requirements such as data integrity reviews, scrubs, and regulatory submissions.

Key Points: 
  • In addition, the team stands ready to deliver outsourced services enabling institutions to meet pressing and time sensitive compliance requirements such as data integrity reviews, scrubs, and regulatory submissions.
  • From the start, Asurity has been at the forefront of banking innovation, combining regulatory expertise with SaaS technology to help automate and streamline compliance processes.
  • With its expansion into advisory services, Asurity now has the additional talent and specialized resources to comprehensively address the challenges facing all types of lenders.
  • As a result, we decided now is the time to launch Asurity Advisors, a business unit dedicated to meeting financial institution advisory needs.

Regulatory and Compliance Leaders to Gather at the 2024 Fair Lending Forum Hosted by Asurity® Technologies' RiskExec®

Retrieved on: 
Tuesday, February 6, 2024
Bank of America, SBL, HMDA, Comptroller, Senior, Risk management, OCC, Community, CRA, Policy, Bank, Artificial intelligence, Financial adviser

WASHINGTON, Feb. 6, 2024 /PRNewswire/ -- Asurity Technologies, LLC ("Asurity"), a leader in consumer lending compliance software and advisory services is excited to announce the 2024 Fair Lending Forum, taking place April 29 - May 2, 2024 in Charlotte, NC.

Key Points: 
  • WASHINGTON, Feb. 6, 2024 /PRNewswire/ -- Asurity Technologies, LLC ("Asurity"), a leader in consumer lending compliance software and advisory services is excited to announce the 2024 Fair Lending Forum, taking place April 29 - May 2, 2024 in Charlotte, NC.
  • It's a unique chance for industry professionals to gain valuable insights into the current state and potential future of regulatory compliance that can inform their practices."
  • Grace Brasington, who routinely advises consumer lenders on compliance and risk management matters and leads Asurity's newly launched advisory business, Asurity Advisors, remarked, "The Fair Lending Forum serves as a crucial platform for industry leaders to come together and address the pressing issues.
  • For more information and to register for the 2024 Fair Lending Forum, visit www.fairlendingforum.com or email [email protected] .

Newgen Software and Finastra Forge Strategic Partnership to Transform Lending Processes

Retrieved on: 
Thursday, January 25, 2024
CRA, Partnership, API, HMDA, Product management, Finastra, EVP, Bank

NOIDA, India, Jan. 25, 2024 /PRNewswire/ -- Newgen Software, a global provider of low code platform, announced that it has partnered with Finastra, a global provider of financial software applications, to enhance its loan origination solutions further and integrate lending solutions with Finastra's LaserPro.

Key Points: 
  • NOIDA, India, Jan. 25, 2024 /PRNewswire/ -- Newgen Software, a global provider of low code platform, announced that it has partnered with Finastra, a global provider of financial software applications, to enhance its loan origination solutions further and integrate lending solutions with Finastra's LaserPro.
  • Moreover, it minimizes manual effort by eliminating the need for data mapping while ensuring data validation before transfer.
  • "Newgen's Lending Solution, built on a low code platform, transforms the loan origination journey for financial institutions.
  • With robust integration into core banking and document preparation systems, this collaboration with Finastra marks a pivotal partnership.