Ten years ago, it seemed the real estate and mortgage lending industry had one primary concern when it came to regulatory and compliance: the brand-new Consumer Financial Protection Bureau (CFPB). When the 2010s began, there was no question as to what the new CFPB would accomplish, but that was a steep concentration on rulemaking.
The CFPB wanted to guide consumers through rules on the regulation of mortgage servicing, mortgage originations, TRID and HMDA. This paved the way for established sources on regulatory and compliance leaders in the real estate industry like Fannie Mae and Freddie Mac. Government Sponsored Enterprises, or GSEs, now look to organizations like Fannie Mae and Freddie Mac in a time when they have turned into standard-setting resources for the industry.
SoftPro President Joyce Weiland says, "SoftPro is here to listen to our customers' needs, and help and support your operations in every direction these new and emerging technologies may take it. As we all see Fannie Mae and Freddie Mac playing a larger role in setting standards for the industry, we'll be with you every step of the way, providing the knowledge and assistance you need."
Now, as a new decade begins where technologies such as artificial intelligence and data recognition are ever more present, industry influencers like Fannie Mae and Freddie Mac continue to set the standards for a new decade of industry compliance and the latest technology. To help our customers navigate a better understanding of the market, we worked with October Research on sponsoring The New GSE Focus special report. Download it below today!