The 2014 Mortgage Technology Awards are 15 years in the making and continue a long tradition of honoring the best and brightest industry innovators.
Another important concern when it comes to the safety of borrowers' home loan information is physical location. There have been many physical loan files stolen, as well as computers.
Speaking of millennials, working with this generation is going to become more important for all of us as they become, over the next few years, the largest part of our workforce.
Most mortgage industry managers probably feel that the way they manage their businesses is pretty straight forward.
In less than one year, the new RESPA/TILA integrated disclosure final rule will take effect, impacting all aspects of lenders' origination processes and technology.
For the average consumer, bundling purchases is a proven approach to improving value while reducing cost.
Such a system will not erase past violations, but it can help convince a regulator that a lender is invested in doing business the "right way."
An examination of the details in the B of A settlement shows many examples of risky behavior, including mortgage applications that were underwritten with "shadow" guidelines that allowed exceptions to approve almost any loan.
It would be a lot easier if we could just order mortgages on Amazon, where perhaps prime borrowers who are also prime members could get a prime mortgage with free shipping.
Millennials may be the first group of homebuyer-aged Americans that don't buy into the American dream at least not the homeownership part of it.
In about six years, by 2020, one out of three adult Americans will be a Millennial. By 2025, they will make up about 75% of the workforce.
For outsourcers to supply value to the originators that hire them, they must do than simply meet the terms of the agreement.
Under the Consumer Financial Protection Bureau plan, lenders would need to respond to virtually every public complaint even those by consumers, disgruntled employees, and competitors that abuse this forum.
While use of facsimile has decreased in the workplace for general business practices over the years, fax machines still remain the default delivery method for sending and receiving mortgage payoff statements.
The CFPB believes that the answer to all of these problems lies in taking the paper completely out of the transaction and closing electronically.