Analytics

Understanding how consumers pay their debts over time is expected to widen access to credit for consumers recovering from financial problems or who were hard to score before. Just how many it will benefit is an open debate.

By implementing a platform designed specifically to support quality control, lenders can continuously prepare for an audit while simultaneously executing on everyday loan quality tasks.

Social media offers a unique opportunity to make personal connections online, but mortgage lenders should tread lightly when using this channel as a lead source for new borrower prospects.

Some lenders have asked whether the bureau would adjust its so-called resubmission guidelines — which determine whether lenders have to refile data based on errors found in samples — and it has responded with a request for further industry input.

After defeating an expert in Japanese chess, this computer program's next task is to figure out if you can make the payments on a new mortgage.

WASHINGTON — Fannie Mae and Freddie Mac would be able to evaluate and use new credit scoring models under a bill introduced in the House that seeks to create more competition in the credit scoring industry.

From single-point-of-contact requirements to the need for better self-service options, servicers surveyed by National Mortgage News are taking a much-needed hard look at the full range of customer touch-points that they operate.

In one instance, a single complaint in the Consumer Financial Protection Bureau's database was counted as 35 different ones while in another, a complaint against a payday lender was filed against an unrelated bank. Current and former officials say that's par for the course, leading to inflated complaint numbers and inaccurate data.

Amid a renewed focus on improving customer service and the overall borrowing experience, lenders surveyed by National Mortgage News indicate a strong interest in customer-relationship management software, but remain tepid about electronic signatures.

While regulatory pressures remain top of mind for the mortgage industry, lenders surveyed by National Mortgage News are shifting their attention from defensive-minded compliance initiatives to ones that improve companies' ability to compete.