Mortgage technology

Loan officers say that the platform discourages them from originating loans.

Sandra Thompson said millennials entering the homebuying market are used to immediacy and more must be done to streamline the homebuying process

Compliance is crucial in light of regulatory attention to mortgage companies' ability to provide continuity of care to distressed borrowers in particular.

The link between digital servicing and marketing automation will disseminate information through efficient means, such as a short video that explains escrow analysis.

The automation is aimed at ensuring compliance-sensitive information gets transferred with an audit trail in an active MSR market.

From new appraisal alternatives to the use of blockchain to protect HMDA data, speakers sought to ensure the regulator had a handle on innovations that touch the secondary mortgage markets.

The New York-based company announced it will use ACES' quality management and control software.

While intercompany relationships are established in any environment, activity seems to pick up when business declines.

The latter company helped build a platform that served a similar purpose for a nonprofit entity during the Great Recession, and later continued to support an updated version of that 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.

Rocket made waves in 2016 when it promoted its online streamlined application process during Super Bowl 50. This now takes the process to the other end.