Sorry the commentary is a little late this morning. I received an email from my IT department that I needed to change my username and password. It took me a few minutes to remember that I didn’t have an IT department. Beware of those phishing expeditions! Technology… if it weren’t for my pets or grandparents, I don’t know what I’d do for passwords. There are obviously pluses from technology, of course, and thank you to Steve Richman who told me about Canva, a marketing website that appears darned easy to use. How about the darker side of tech, even including today’s “joke” about how card shuffling machines can be influenced and hacked into. (Do you really think virtual Wonder Woman slot machines are random?) Thank you to those who passed along this story about the aftermath of a cyberattack on a Southern California data host for property listing information, Rapattoni Corporation, freezing up real estate transactions and valuation
Lending continues to be intertwined with legal and compliance issues. Here’s a story from overnight that is catching a lot of attention: “Equifax stock falls after saying it received a CID from the CFPB.” The Federal Trade Commission (FTC) agreed to drop its challenge to Intercontinental Exchange Inc.’s (ICE) proposed deal with Black Knight Inc. in a joint stipulation that allows them to work toward a settlement. Lender ToolKit is suing Celebrity Home Loans and MLD. and Meanwhile, lenders and vendors are doing what they can to increase business and tap into new markets, and with that in mind National MI is sponsoring a weekly podcast beginning today focused on offering mortgages to people in their 20s and 30s (Mortgages with Millennials). (Today’s podcast can be found here and is sponsored by SimpleNexus, an nCino Company, developer of mortgage technology uniting the people, systems, and stages of the mortgage process into one seamless, end-to-end sol
Mark Weber sends, “Can I take my 2.5 percent loan to another property? Remember the portable loan idea? When will we see real estate agents advertising, ‘This home for sale has an assumable FHA/VA loan!’?” Ask any LO (loan originator, or officer, depending on what you want the “O” to stand for) and they can tell you stories about lenders either fumbling the servicing handoff or a myriad of borrower woes. There is a good reason that it has become a lightning rod for CFPB examinations. J.D. Power released its U.S. Mortgage Servicer Satisfaction Study, which measures customer satisfaction with the mortgage servicing experience in six factors (in order of importance): level of trust, makes it easy to do business with, keeps me informed and educated, people, resolving problems or questions, and digital channels. “The latest results show an ugly situation for the industry. Overall satisfaction is down… there’s been an increased r
Electric am system is installed. remembrances continue to pour in for legendary rock pioneer lou reed dead at the age of 71. he was a founding member of the velvet underground sunday is widely credited with changing the landscape in the 70s. he wrote and recorded dozens and dozens of songs in his tremendous career. we ll talk more about that coming up. what a tremendous career when you think of all the influences. we ll get into it. and he was young, a loss on many levels. 71. yeah. thanks, mikaela. let s go straight over to ingrid petersen for a look at the temperatures. temperatures are bounding up to the 60s. above average. the average is typically in the upper 50s right now. this is only going to last one day, though. we have another cold front swinging through the northeast. it will bring it down for tuesday and wednesday. we are going to have a pattern
0 what went wrong? is there a chance it could get fixed any time soon? plus the latest on that bizarre story out of north carolina. a carnival ride nungsed. now the ride operator has been arrested accused of tampering with the safety mechanism. was he deliberately trying to hurt riders? we ll get into it. also, overnight, dr. conrad murray, the doctor accused in the michael jackson case, was released from prison. now the big question, will he be allowed to practice medicine again? plus, new information on the u.s. spying on its allies. the u.s. was snooping on dozens of leaders, including angela merkel. but the spying stopped after the white house became aware. jim is in washington with more on the story. what do we know? reporter: well, chris, a very busy weekend. the wall street journal reporting the president was unaware of this under surveillance until this summer. a second report in germany saying the president wasn t aware of the spying on germany, going back to 2010. s