Daily Dose

Rohit Chopra, Director of the CFPB, said, “Companies are not absolved of their legal responsibilities when they let a black-box model make lending decisions.”

The closings-to-application ratio declined by five percentage points in Q1, affecting both revenue and cost, while rising mortgage rates and low housing supply resulted in lower production volume.

New automated underwriting capabilities such as verification of assets, income, and employment using borrower-approved bank account data increases efficiency and reduces risk.

Explore recent installments of Five Star's complimentary webinar series, with subject-matter experts tackling all aspects of the modern mortgage landscape.

MReport speaks with Timika Scott, SVP, US Bank, as she provides insights into how mortgage organizations can build both inward- and outward-facing commitments to diversity and inclusion.

In advance of CoreLogic's next Home Price Index release, CoreLogic Deputy Chief Economist Selma Hepp notes that "since mortgage rates have hit the psychological 5% benchmark, buyers are stepping back." Here's what to expect in The Week Ahead.

Thirty-year industry veteran promoted to new role, and will retain the responsibilities of company President and COO as part of the move.

Prices are rising nearly 20% annually in half of the zones targeted for improvement, while median sale prices in half of all zones nationwide continue to surpass quarterly and annual increases.

The Consumer Finance Protection Bureau is closing one office but opening another to promote competition and innovation in consumer finance.

Month-over-month, pending sales of homes in the U.S. remain in decline, as escalating rates have bumped up the cost of purchasing a home by more than 25% year-over-year.