The Libor transition is creating huge headaches for the industry; harnessing AI technologies may be the key to tackling it.

As the pandemic speeds digital adoption at financial institutions, the technology giants are pitching products that scan in data from mortgage documents and provide security and compliance controls used by in-house tech developers.

The industry has long talked about embracing digital technology — but the time for talk may be over.

The automated closing disclosures software aims to be "40% faster than the 'old fashioned' method," a company spokesman said.

Although it moved from the glitz of Las Vegas to a fully virtual event, the 2020 Digital Mortgage Conference delivered insights and acumen from the industry.

Lenders and vendors are starting to realize that there are both areas in which artificial intelligence can be used more broadly, and areas in which technology’s role should be limited.

A deep understanding of the history of racial discrimination in both lending and technology is a prerequisite to the development of new technologies, panelists said.

Any roadmaps for client service that existed before the pandemic have changed, according speakers at DigMo2020.

The final version of the amended rule, like the original proposal, makes fair lending claims tougher to prove; but it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination.