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.

The CFPB is giving stakeholders until Dec. 1 to file comments on a potential overhaul to its rules related to the Equal Credit Opportunity Act, which prohibits discrimination in credit and lending decisions.

An internally built system called Advanced Listening analyzes phone calls, emails, text messages and more, identifying possible compliance violations, systemic issues and opportunities to improve processes, products and customer service.

The agency sought feedback on potential changes to the Equal Credit Opportunity Act. But a coalition of industry and advocacy groups want a longer comment period to afford “a greater opportunity for thoughtful public participation.”

With no way of knowing just how many borrowers will need the mods after the coronavirus forbearance period ends, lenders are deploying artificial intelligence and servicing protocols to tame the ferocious piles of paperwork awaiting them.

The social distancing related limitations on home appraisals is inspiring some companies to find new ways to advance the process.

Almost 10 years after it became the business world's biggest buzzword, cloud technology is everywhere, but few mortgage companies have fully capitalized on its efficiency and flexibility advantages.

As lenders scale up on their remote capabilities in response to the pandemic, the software companies that service them see exponential growth.

As delving further into digitization becomes more the standard, loan officers across the country know artificial intelligence is the next evolution in mortgage technology.

Mortgage technology efforts have historically been behind the curve, but some recent responses to the coronavirus highlight instances where it rises to the occasion.

IBM called for rules aimed at eliminating bias in artificial intelligence to address concerns which range from identifying faces in security-camera footage to making determinations about mortgage rates.

Mortgage lenders' uptake of innovations in artificial intelligence, big data and other technologies has been relatively slow. It's an approach that may not be tenable in 2020.

Wealthfront could roll out a debit card, automated bill pay and direct deposit in early 2020, Chief Executive Andy Rachleff said.