Digital mortgages

Mortgage lender loanDepot is taking steps toward rebooting plans for an initial public offering, about five years after scrapping one at the last minute, according to people with knowledge of the matter.

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.

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

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.