"They've spent tons of money on the front end, on attracting millennials, but the back end is typically 12-to-24 months behind," says Clayton Holdings' Andy Pollock of the newest crop of mortgage technology architects. "The infrastructure, staff and management are not there."
What Fintech Gets Wrong About Mortgage
Technology startups diving into mortgage lending are doing a lot of things well … except servicing, warned a mortgage industry consultant who has advised them.  more »
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Amalgamated Bank in New York has started offering down payment insurance to homebuyers in a move it hopes will set it apart with highly mobile millennial borrowers.
With consumers generally averse to risk, financial institutions have an opportunity to rethink what it means to make bets in line with their customers' well-being.
During the mortgage crisis, servicers recruited people from the origination business to help with loan modifications. Now the two sides of the industry are coming together in a new way.
ClosingCorp's board parted ways with Brian Benson and is looking for someone with experience in a high-growth technology environment.
You may spend thousands of dollars on closing costs when you buy a house, but as you should expect, scammers want that money, too, and might try to fool you into handing it over.
Alterra Home Loans more than doubled its mortgage volume but saw its revenue decline. After some post-adoption hiccups, the company is making more money than ever. Other lenders have similar stories.
Senate appropriators approved $13 million in new funding to update the Federal Housing Administration's "outdated and unautomated" information technology systems, but rejected President Obama's proposed way of paying for it.
As the war for talent heats up and lenders face tougher decisions in recruiting and hiring loan officers, the need to deploy certain tactics might seem appealing, but will ultimately create more problems than they are worth.
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