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Industry veterans launch Canopy in bid to shake up residential due diligence space

Housing Wire

Residential due diligence is an area of the mortgage ecosystem that’s overdue for disruption, according to two industry veterans who want to offer something completely different in the due diligence space through their newly launched company, Canopy. That’s why it has to be done over and over again.”.

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Incenter acquires due diligence firm Edgemac

Housing Wire

Incenter is adding a third-party due diligence review firm to its umbrella of companies. Edgemac , which Incenter acquired at the end of last year, does due diligencing for mostly non-QM and jumbo loans, as well as private label reverse mortgages that could eventually be securitized.

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Underwriter shortage slowing the pace of private-label deals

Housing Wire

Underwriters are needed at the beginning of the process to conduct due diligence on mortgage originations, and they are in demand on the back-end of the pipeline to conduct due diligence on the loans being pooled and securitized in RMBS issuances sold to investors. It depends on who you are,” Mayhew explained.

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Risk to reward: Mortgage Connect Risk Solutions continues to set the standard after 40 years

Housing Wire

At the vanguard stands Mortgage Connect Risk Solutions (MCRS), formerly Adfitech, a leader in risk management, quality control , third-party reviews, and due diligence, known for protecting mortgage lenders and investors from the risks inherent in mortgage lending. million loans and reviewing over 300 million documents.

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Loan buybacks haven’t disappeared, but they are trending down

Housing Wire

Repurchases have been a hot topic for lenders, and to some degree, the agencies and investors have gotten a bad rap in these discussions,” said Nick Volpe , executive vice president of ACES Quality Management. “ The problem obviously is bad loans that lead to repurchase and indemnification.”

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Private-label loan-vetting comes up short

Housing Wire

As part of that, it’s important to understand that the due-diligence reviews performed on loan pools assembled for securitizations often make use of a process called loan sampling. The concept is simple: A random sample of loans is selected for due-diligence review from a larger pool of loans that often numbers in the thousands.

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How hybrid title and valuations help increase lending efficiency

Housing Wire

HousingWire: What are some due diligence and underwriting challenges loan originators face today? Steve Greenfield: Lenders have always faced certain challenges when meeting necessary due diligence and providing accurate underwriting services. With the pandemic, they can be even more difficult these days.

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