Digital mortgages

Our second monthly survey found a smooth transition to remote work and digital customer access channels — but technology issues still arose. The pandemic has highlighted the importance of having a strong digital presence across all retail sectors, including financial services.

Previously, mortgage firms concentrated on borrower-facing systems at the expense of internal experience.

The other parts of the Day 1 Certainty program regarding income and asset verifications remain in effect.

Guild Mortgage's presence in Washington state, the epicenter of the first U.S. outbreak, gave it an early glimpse of the obstacles ahead.

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.

The conditions the pandemic created could be the driver of e-mortgage adoption that has been long in coming.

To keep up with demand during the coronavirus pandemic, the mortgage industry must push other initiatives to the side in favor of ramping up the use of tech tools, according to Planet Home Lending.

As the mortgage and real estate industries traverse the challenges of the increasingly digital coronavirus landscape, title agents and their integral part of the process can get overlooked.

Joe Welu, CEO and founder of Total Expert, provides his perspectives on how the coronavirus pandemic impacts the mortgage industry and ways lenders can push forward.

Consumer needs are in flux and Top Producers were looking at technology and risks associated with unexpected financial challenges as areas where they weren't yet meeting those needs. The coronavirus only intensified the urgency.

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.

As the world practices social distancing to counteract spreading the virus further, it forces lenders to move as close as possible to an all-digital model, as quickly as possible.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

Mortgage industry technology providers are adjusting their processes to allow for originations to keep flowing through the system as the nation combats the coronavirus.

Electronic closings are a solution in efforts to limit people congregating, but there could be some state law concerns.

Maxex, a company that acts as a private exchange for residential mortgage sales, is seeing a pickup in business as sellers seek additional outlets for their nonagency loans.