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Sep 07, 2006

EZdesk releases HOEPA compliance softwareMortgagePress.comHOEPA compliance EZdesk Inc. has released a desktop software solution, HOEPA Section 32 Compliance Made Simple, designed to avoid closing delays caused by loans that are not compliant with the Home Ownership and Equity Protection Act (HOEPA). The program checks the annual percentage rate, points and fees at the time of loan submission and advises the user if overcharges appear on the loan, requiring revision. EZdesk Inc. is a provider of lending solutions for mortgage professionals, based in Murfreesboro, Tenn. For more information, call (615) 217-4545 or visit www.ezdesk.com.

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Sep 07, 2006

Regulation and Compliance

Mortgage Servicers Added To Junk-Fee Naughty List

New release from CFPB lays out areas of improvement, and concern, for mortgage servicers.

The Consumer Financial Protection Bureau (CFPB) today published new supervisory highlights describing the regulator's recent actions to combat junk fees charged by mortgage servicers, as well as other illegal practices. The CFPB has also announced that it is working to addre...

Analysis and Data

Every Dollar A Fraudster Makes, A Financial Firm Loses $4.41

U.S. investment firms and credit lenders see a 9% annual increase in the financial impact of fraud.

Overall fraud increased at least 6% for 63% of financial firms within the past year, with digital channels accounting for half of the overall fraud losses, according to LexisNexis True Cost of Fraud Study: Financial Services and Lending Report — US and Canada Edition. U....