Industry News

Regulatory compliance issues were down 51 percent in 2019 from 2018, to a multi-year low of 5.17 percent of all critical defects.

And loan package/documentation defects were volatile in 2019 but still posted a 12 percent improvement compared with 2018, according to a new report from ACES Risk Management (ARMCO).

Read on to see other highlights of ARMCO’s report, including which six defect categories showed improvement from Q3 to Q4.

Executive search firm BarkerGilmore has released its annual In-House Compensation Report.

The report examined pay rates for different job sectors including healthcare, industrial and manufacturing, technology and professional services, as well as among gender lines. It also examined which practice areas are most likely to consider a move for compensation issues.

Read on for more details from the study and BarkerGilmore Founding Partner John Gilmore.

Solicitor General Noel Francisco has announced he will resign from the Department of Justice (DOJ) effective July 3.

Francisco argued for the DOJ on March 3 to defend a civil investigative demand issued to a California law firm in Seila Law v. Consumer Financial Protection Bureau, a case that could determine the bureau’s constitutionality.

Read on for reaction on the DOJ’s announcement from Francisco and Attorney General William Barr.

The National Association of Realtors (NAR) has announced another step in its ongoing fight against housing discrimination.

NAR has joined the U.S. Chamber of Commerce’s Equality of Opportunity initiative, part of a broad national effort to examine economic inequality in America, including in the housing sector.

Read on for details from NAR CEO Bob Goldberg and Chamber President Suzanne Clark on the initiative, which has support of more than 400 groups nationwide.

Latter & Blum is the largest independently owned real estate and home services company in Louisiana and the Gulf South.

Meanwhile, Latter & Blum affiliate Essential Mortgage has seen a 69 percent volume increase so far year-to-date over 2019, with no signs of slowing down the second half of the year.

Read on to say what top executives at both companies told RESPA News about how to stay compliant in this open story.

The National Association of Realtors (NAR) has released a plan to help close the persistent gap in homeownership rates between whites and African-Americans.

The interest in homebuying is strong, as reflected in the surge in mortgage applications to buy a home. However, there is not enough supply to meet demand.

Read on for NAR Economist Lawrence Yun’s five-point plan to increase African-American homeownership rates.

The Federal Financial Institutions Examination Council (FFIEC) has announced a new member on its State Liaison Committee (SLC). 

The five-member SLC consists of five representatives of state banking and credit union agencies that supervise financial institutions. Members are designated by the Conference of State Bank Supervisors, American Council of State Savings Supervisors, National Association of State Credit Union Supervisors and the FFIEC. 

Read on for information on the committee’s newest member.

Last year, the Department of Housing and Urban Development (HUD) sued Facebook for discriminatory practices in its housing ads.

Since then, HUD has made a concerted effort to address other online platforms’ unlawful practices under the Fair Housing Act. For instance, HUD recently announced it has worked with Google to improve its online advertising policies to better align them with requirements of the Fair Housing Act.

Read on for more details from HUD.

As part of its commitment to addressing racial injustice in America, the National Association of Realtors (NAR) has begun circulating a new 50-minute implicit bias training video to its members and association staff.

NAR’s online video draws upon recent research to illustrate how the human brain’s automatic, instant association of stereotypes with particular groups can cause people to treat those who are different from them unfairly. 

Read on for more about NAR’s efforts.

Work-from-home fulfillment teams have increased productivity and made borrowers happier, according to a new report from mortgage advisory firm Stratmor Group.

As lenders and servicers have fared better than expected in the pandemic, Stratmor has suggested ways of keeping the positive momentum going once the COVID-19 threat is over.

Read on for more from the company’s latest insights report, “Creating a Customer Centric Culture in a Brave New World.”