Mortgage technology

Lenders are using third-party sources, which provide insights ranging from consumers' credit profile to social media messaging, to supplement information they collect.

Younger mortgage tech software developers reveal new efficiencies they're creating for lenders.

A "Big 3" credit bureau is testing a direct data feed into a FICO score, and a top multifamily mortgage lender signed a multiyear contract with a high-profile fintech platform.

Even though a Compass Point report states the pair have validated the credit scoring model and could implement it in the first quarter of 2023, interested parties would not verify it.

The application process was regarded more positively, which suggests originators have been successful at improving in this area.

The government mortgage-bond insurer's technology initiative has made "huge strides" since June, when it relaunched with new flexibilities, President Alanna McCargo said.

The company, which provides "buy before you sell" and cash offer financing, cited a challenging real estate market and grim venture-capital outlook.

Traditional metrics provide limited insight as to whether a portfolio is on its way to reperformance, so instead of tracking things like calls per employee, measure the number of homeowners helped.

Morgan will now convert a pre-approved property-specific loan to a property agnostic tradable non-fungible token backed by real dollars and guaranteed by the lender.

Amid a $391.8 million impairment related to Title365, the fintech laid off 220 workers in August, bringing its total layoffs to 25% of its payroll since April, executives said.

Payment for the whole loan and servicing-rights trading platform will be a mix of cash and stock, with the price and closing of the deal subject to certain contingencies.

Truework, whose clientele includes several influential mortgage players, facilitates employment checks and aims to make gig-economy data accessible.

The new leaders named at the company highlight what appears to be some heavy recruiting from the ranks of executives who previously worked for a government-sponsored enterprise or a GSE joint venture.

About 64% of borrowers would like loans to be closed in three weeks, according to Arizent research.

In exclusive new research, lender representatives reported an overall strong relationship with technology compared to bankers, insurers and wealth managers.

Historical statistics examined by Standard & Poor’s suggest the two servicing trends, which widespread use of forbearance intensified and highlighted in the past two years, may have some staying power.