Digital Mortgage 2020

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.

After flattening over the three prior weeks, the number of loans going into coronavirus-related forbearance dove at a rate not seen since early August, according to the Mortgage Bankers Association.

Many states currently have temporary work-from-home guidance for licensed mortgage professionals that extends through at least Dec. 31, but some have fall expiration dates.

Jonathan Corr's departure from the nation's largest loan origination system company follows the completion of its sale to Intercontinental Exchange.

From an increased interest in outdoor space to a need for a dedicated home office, the pandemic has created new drivers for refinancing, moving and other housing decisions, TD Bank found.

The company's remote online notarization provider, Notarize, says it's on track to close $100 billion in mortgage volume over the next 12 months.

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 current economic crisis continues to disproportionately impact borrowers with FHA and VA loans," said Mike Fratantoni, the MBA's senior vice president and chief economist.

Today there are 1 million fewer Americans in forbearance than there were at the peak in May, according to Black Knight.

The mortgage industry comes together to address current issues and prepare for a post-COVID marketplace Sept. 14 to 17.

The technology company arrived at this percentage by mapping federally declared disaster areas to the projects it helps lenders manage.

But federal elections and the pandemic make projections on the sustainability of industry profitability especially tricky.

Millennials locked in the lowest mortgage rates on record and kept the summer housing market hot, according to Ellie Mae.

The decision is the latest development in an ongoing dispute between the shuttered company and its regulator.

For the first time since June 7, the number of loans going into coronavirus-related forbearance didn't decrease from the week before, according to the Mortgage Bankers Association.

Cannae and Senator said they are looking to stop CoreLogic from unilaterally cancelling a vote on changing the members of its board.