National industry appointments update - 11/9/2006

Nov 08, 2006

Fidelity National Foreclosure Services introduces hybrid Tech Source modelMortgagePress.comMortgage technology outsourcing Fidelity National Foreclosure Solutions (FNFS) has announced the launch of its Tech Source model, designed to help in-house servicing operations reduce cycle times and minimize costs. Tech Source combines foreclosure-management technology with elements of FNFS' foreclosure-outsourcing model, to provide servicers with an option that bridges the gap between technology-only solutions deployed for in-house foreclosure management and complete outsourcing. Fidelity National Foreclosure Services is a division of Jacksonville, Fla.-based Fidelity National Information Services Inc., a provider of core processing for financial institutions, card issuer and transaction processing services, mortgage-loan processing and mortgage-related information products and outsourcing services. For more information, call (888) 934-3354 or visit www.fnf.com.

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Nov 08, 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....