Mortgage technology

A total of 480,000 customers may have been affected by the duplicate drafts and so far it looks like far fewer than 1% of them incurred non-sufficient funds fees, Mr. Cooper said Tuesday.

The recent compression allays fears that lenders would have difficulty serving the needs of borrowers with time-sensitive purchase contracts during a peak season.

System updates, which may be a result of changes to the Preferred Stock Purchase Agreements, have Community Home Lenders Association members saying loans that were approved previously are getting rejected when put back through.

The incident points to a risk mortgage companies should be aware of as they shift to digital servicing strategies.

The mortgage real estate investment trust has been a first-mover regarding innovations in the private securitized market, and others tend to follow its lead.

A private equity capital raise earlier this year gave the company a $3.3 billion valuation.

In the nonstop deluge of loan volume, last year’ highest producing loan officers leaned on tech — though sometimes reluctantly — to adapt in the digital marketplace.

Nonbanks claimed more of the top slots based on loan volume, while the origination gains experienced by Hispanic, Black and Native American borrowers were weaker than those of other groups.

One year after its internal merger, the fintech and fulfillment services provider’s COO Debora Aydelotte discusses the company’s support for community banks and its placement in the ranking of Best Fintechs to Work For.

Also: Fairway fires back at UWM, private equity goes big with mortgage deals, manufactured homes aid the inventory crisis and how servicers will navigate the CDC's eviction ban extension.