March 28, 2018
In This Issue:
- Hackers Impersonating Mortgage and Title Staffers in Wealthy Texas Suburb to Steal Down Payments
- Ellie Mae: Homebuyers Expect Digital Mortgages, but Also Want Human-Touch Communication
- Ellie Mae: "Significant" Reduction in Closing Times
- CFPB NEWS: FAQs on Bankruptcy Issues Under Mortgage Servicing Rule Released
- TLTA Webinar Addresses New eNotarization Law Effective July 1
Hackers Impersonating Mortgage and Title Staffers in Wealthy Texas Suburb to Steal Down Payments
HousingWire | March 23, 2018
Hackers are posing as mortgage and title insurance company employees in order to steal the down payments of homebuyers in one of the wealthiest cities in the country.
Police in Southlake, Texas, a suburb of the Dallas/Ft. Worth Metroplex and the fourth wealthiest city in the U.S., based on data from the Census Bureau, issued a warning this week about scammers who are hacking into the email accounts of real estate professionals and then pose as title company employees in order to steal a homebuyer’s down payment.
And in Southlake, the down payments can be quite high.
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Ellie Mae: Homebuyers Expect Digital Mortgages, but Also Want Human-Touch Communication
Ellie Mae | March 20, 2018
As the industry embraces digital mortgages, the annual Borrower Insights Survey from Ellie Mae found that nearly two-thirds of Americans expect to be able to apply for a mortgage and complete the application online.
The 2018 Ellie Mae Borrower Insights Survey found that homeowners went high-tech and human-touch when they applied for their last mortgage. Sixteen percent applied for their loan completely online while 45 percent of homeowners completed the process entirely in-person. Thirty-seven percent leveraged a combination of an online application and in-person interaction.
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Ellie Mae: "Significant" Reduction in Closing Times
Mortgage Daily News | March 22, 2018
The time to close all loans decreased by two days to 42 in February with the time to close purchase loans falling from 47 days to 45 and refinancing from 40 to 37 days. Ellie Mae called the decline from the average of 47 days in 2017 "significant." The required time to close each loan type decreased from January to February, FHA loans from 47 days to 43 days, conventional loans from 43 to 41 days, and VA loans from 50 to 47 days.
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CFPB NEWS: FAQs on Bankruptcy Issues Under Mortgage Servicing Rule Released
CFPB | March 20, 2018
To support implementation of the 2016 Mortgage Servicing Final Rule, the CFPB is releasing a number of Frequently Asked Questions that address some common questions the CFPB has received related to mortgage servicing. The FAQs released on March 20 are on mortgage servicing provisions addressing certain bankruptcy-related topics.
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TLTA Webinar Addresses New eNotarization Law Effective July 1
TLTA | March 28, 2018
With the passage of HB 1217, eNotarization will soon become a reality in Texas. The law is effective July 1 and the Secretary of State is now working with stakeholders on rules in anticipation of the law going into effect. Are you ready?
Attend the live webinar Online Closing: New Tools for Title Agents
on Thursday, April 5 to find out the difference between eNotarization and online/remote notarizations, what to expect when performing these transactions, how to prepare your staff and business operations, technology options and requirements, and more. Join veteran Texas title agent Celia Flowers as she explores the issue with Stewart representatives Dawn Lewallen and Marvin Stone to determine whether the passage of this bill means profits or pitfalls for your title agency.
Get Complete Details »
TLTA is scheduling more live webinars for 2018! Register now, or explore the On-Demand webinar library today!