Focus: Servicing — A special report on mortgage servicing technology
•Hub Evolution — Are systems of record keeping up with the times?
•Ending Robo-Signing — Technology to ensure compliant default servicing
•Neutralizing E-Mortgage Myths — Preventing paperless loan foreclosure problems
•Loss Mitigation Automation — A Q&A with IndiSoft CEO Sanjeev Dahiwadkar
The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
