Mortgage technology

Methods to combat the discrimination include lender disclosures explaining the process, industry guidance around reconsiderations of value, uniform 3D property scans and more automated valuation models easier to audit than manual valuations.

The partnership is starting off small but ultimately aims to sell real estate through non-fungible tokens on a broader scale than others have in the past.

The partnership allows prospective borrowers to upload bank or payroll information and work with loan officers online through the signing process.

The Federal Housing Administration also announced it would incorporate similar borrower history into its underwriting beginning at the end of October.

A Midwest lender is also laying off local employees while a Florida bank is shutting down its nationwide network of mortgage offices.

The Federal Housing Finance Agency's new office will assess technology solutions for an industry viewed by many as too slow to embrace digital efficiencies.

The option can be efficient but companies have to figure out who will handle the additional property data collection, panelists at the Digital Mortgage Conference said.

Waivers boomed during the pandemic's refi wave and the recent automation of desktop appraisals have provided additional flexibilities, but their applications are limited in the current market.

Consumer use rates may be low in part because they prefer to stick to one method of submitting information needed to apply for a mortgage.

Firms can take advantage of powerful tools from big technology companies but must be wary when sharing large amounts of data or ideas, experts said.