Digital mortgages

Dan Gilbert, the billionaire founder of mortgage giant Quicken Loans Inc. and owner of the NBA's Cleveland Cavaliers, is "awake, responsive and resting comfortably," a day after suffering a stroke.

Dan Gilbert, the founder and chairman of Quicken Loans, was hospitalized on Sunday after suffering stroke-like symptoms, according to the Detroit News.

Freedom Mortgage's acquisition of RoundPoint Mortgage Servicing gives it a major subservicer and will increase the Mount Laurel N.J.-based company's mortgage servicing rights portfolio by nearly 44%.

Despite the benefits of going to a fully or hybrid digital mortgage process, some lenders still hesitate to adopt it as fast as expected.

The Federal Housing Administration and Ginnie Mae will use their lagging digital mortgage positions to their advantage as they put an emphasis on building their technology.

Mortgage technology company Ellie Mae, which was recently bought by private equity investor Thoma Bravo, underwent restructuring and reduced its staff by 10%.

New legislation in Iowa that allows banks and credit unions to utilize electronic notaries could help local lenders compete with online competitors.

Zillow's mortgage division experienced better customer demand in the first quarter than it expected, but its revenue was outweighed by expenses that led to a pretax loss of $9.6 million.

Regions Bank, like many lenders, has seen its refinancing volume shrink dramatically as a percentage of overall originations over the last few years, prompting it to refocus its mortgage bankers on very different purchase originations.

JPMorgan Chase's Corporate Client Banking and Specialized Industries Mortgage group is now accepting electronic promissory notes as collateral to fund warehouse loans.

Intercontinental Exchange's proposed acquisition of Simplifile will enhance its MERS unit's growing presence in handling electronic notes.

Having a cash-out refinance program is important to greater share of originators in the West than it is in the United States as a whole, the Top Producers 2019 survey found.

Provenance Blockchain, recently spun off from Mike Cagney's Figure Technologies, says it can help lenders trim 70% of mortgage settlement expenses through speedier processing and paperwork reduction.

Title underwriters and other vendors reported year-over-year declines in business activity (although some reported improved profitability), but lower interest rates made them optimistic about their prospects going forward.

Quicken Loans parent company Rock Holdings is strengthening its investments in the Canadian market by acquiring a majority stake in Lendesk, a Vancouver-based mortgage fintech.

Customer-facing mortgage technology is not that big of a deal for Top Producers based in the South, even as a growing number of lenders are partnering with fintech firms to create a better user experience.

The mortgage industry identified two technology initiatives it claims have the greatest potential to improve processes and be the most broadly adopted over the next two years, according to Fannie Mae.

Ally Financial took a stake in Better Mortgage, just the latest in the growing trend of banks investing in mortgage fintech companies to enhance their digital lending offerings.

Mortgage lenders have invested heavily in various digital tools that improve the consumer experience, but what they really need to focus on is artificial intelligence that will improve data quality.

The number of electronic notes added to the MERS eRegistry in the first quarter surpassed the amount added for all of 2018, signaling the mortgage industry's push for digital.