Analytics

Understanding how consumers pay their debts over time is expected to widen access to credit for consumers recovering from financial problems or who were hard to score before. Just how many it will benefit is an open debate.

By implementing a platform designed specifically to support quality control, lenders can continuously prepare for an audit while simultaneously executing on everyday loan quality tasks.

Social media offers a unique opportunity to make personal connections online, but mortgage lenders should tread lightly when using this channel as a lead source for new borrower prospects.

Some lenders have asked whether the bureau would adjust its so-called resubmission guidelines — which determine whether lenders have to refile data based on errors found in samples — and it has responded with a request for further industry input.

After defeating an expert in Japanese chess, this computer program's next task is to figure out if you can make the payments on a new mortgage.

WASHINGTON — Fannie Mae and Freddie Mac would be able to evaluate and use new credit scoring models under a bill introduced in the House that seeks to create more competition in the credit scoring industry.

From single-point-of-contact requirements to the need for better self-service options, servicers surveyed by National Mortgage News are taking a much-needed hard look at the full range of customer touch-points that they operate.

In one instance, a single complaint in the Consumer Financial Protection Bureau's database was counted as 35 different ones while in another, a complaint against a payday lender was filed against an unrelated bank. Current and former officials say that's par for the course, leading to inflated complaint numbers and inaccurate data.

Amid a renewed focus on improving customer service and the overall borrowing experience, lenders surveyed by National Mortgage News indicate a strong interest in customer-relationship management software, but remain tepid about electronic signatures.

While regulatory pressures remain top of mind for the mortgage industry, lenders surveyed by National Mortgage News are shifting their attention from defensive-minded compliance initiatives to ones that improve companies' ability to compete.

Calling the purchase of its first customer-relationship management vendor "a mistake," Ellie Mae CEO Jonathan Corr is ready to tee off with its new CRM acquisition, Mortgage Returns.

While national mortgage fraud risk is on the decline, here's a look at six markets where loan defects are rising.

Over a third of appraisals during the third quarter featured property quality or condition ratings that did not match previous ratings, according to an Oct. 19 report from Platinum Data Solutions.

Ellie Mae has agreed to purchase St. Louis-based Mortgage Returns, which provides customer-relationship management services.

By using data from both post-closing and prefunding quality control reviews, lenders can craft a more proactive prefunding QC strategy that takes into account high-risk areas that are specific to their businesses.

The Federal Housing Administration's Neighborhood Watch website is back online after crashing about three weeks ago.

By effectively using technology to gather and verify big data, lenders can underwrite with greater precision, improve loan-level decision making and maximize the integrity of their mortgage portfolios.

Black Knight Financial Services Inc. is benefiting from new banking regulations that push mortgage lenders to use automation software, sending the company's shares surging since its initial public offering two months ago.

To avoid alienating a consumer base increasingly expecting digital options, lenders must take the plunge and update old loan origination systems that cannot accommodate today's technology demands.

Nearly 25 years after a landmark deal and two subsequent legislative overhauls, glitches in the credit reporting system remain widespread. But while regulators and law enforcement officials are again raising the stakes for the credit reporting industry, critics fear it may not be enough.