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Remote, homeowner-assisted appraisals used amid the coronavirus could be a useful tool post-pandemic, in limited circumstances.
Data security, while better than paper-based processes, still can be a problem, according to panelists at Digital Mortgage 2020.
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.
Electronic notes did come in handy this year given the mortgage industry's need to operate remotely, but they also increase the government-sponsored enterprises' responsibility for monitoring the risk of multiple counterparties.
Any roadmaps for client service that existed before the pandemic have changed, according speakers at DigMo2020.
The government-sponsored enterprise’s seller/servicer guide is now integrated into the online portal. Freddie also improved the readability of loan-level reporting it provides, and has further changes in the works.
Quicken Loans president and COO, Bob Walters, provided the first keynote of the 2020 Digital Mortgage Conference and gave insight into how this year changed the industry.