Digital mortgages

The expansion of borrower data collected in the new URLA upends an industry standard and lenders are experiencing some growing pains.

Major secondary market players have been testing Fincity’s technology, which is in the final approvals stage with Fannie Mae and Freddie Mac.

National Mortgage News presents the third annual Best Mortgage Companies to Work For — a survey and awards program dedicated to identifying and recognizing the industry's best employers and providing organizations with valuable employee feedback.

The automation is more prevalent but the net adoption rate is low, the Stratmor Group found.

The company received an undisclosed amount of Series A funding from two investors to expand technology currently focused on helping lenders with timelines that are, on average, spinning out of control.

The visionary co-founded electronic signature company SignOnline in 1999, a year before legislation legalized e-signatures at the federal level.

The mortgage industry’s technology emphasizes speed, but a surge in volume has elongated the closing process for many, which is problematic ahead of a potential seasonal uptick in more time-sensitive purchase loans.

The transaction consisting of $24 million in securitized Ginnie pools followed a 265% jump in broader industry eNote registrations last year.

AlphaFlow, an asset manager that buys real estate loans from lenders, sold the first of what it expects to be a series of securities linked to mortgages often used by house flippers.

The mortgage lender will promote its brand, products and services through MLB-related television or radio ads, in addition to digital outlets.

The amount nearly doubles the capital the mortgage fintech has raised since 2012.

After doubling its valuation in five months, Blend plans to use its latest funding to strengthen its digital lending experiences for banking and mortgages.

The company aims to make financed home purchases more competitive with cash offers by creating a faster mortgage process.

The funding will be used to continue developing the automation Brace provides for distressed loan servicing and other related services.

When the Uniform Residential Loan Application transition deadline hits on March 1, a data set within Fannie Mae’s Desktop Underwriter Program, which many lenders have used for a host of functions, will no longer be supported and unprepared lenders could later experience disruption.

Remote online notarization helped originators close loans amid social distancing measures, but complex local laws remain a barrier to its widespread use.

This year, the mortgage industry demonstrated an unlikely agility and willingness to learn, but 2020 also reinforced where the industry is weak and needs to adapt — quickly — to be able to compete, Capacity Senior Adviser John Heck says.

While it's no silver bullet, automation with careful monitoring and testing can help lenders eliminate racial bias toward potential borrowers, the developers say.

The company also acquired the maker of the ResWare title and escrow software.

Two reports reveal how borrowers prefer to engage with lenders, with younger customers preferring an efficient digital experience and most seeking some form of human interaction.