Mortgage technology

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.

Others in the mortgage industry have been known to take a page from the company’s innovative digital strategies, but using Truebill’s tech as a countercyclical strategy for recurring revenue and lead generation may be too pricey for most lenders to imitate.

The outspoken former Trump administration official recently made headlines when he referred to the mortgage industry as a “ticking time bomb.”

The company’s introduction of other strategic initiatives, including a new technology partnership, will lead to the elimination of 17% of current staff.

Agencies supervising lenders should make it clear that the transition to less discriminatory algorithms won’t be used to punish banks for their previous use of older, less effective systems.

Ashley D. Bell and Bernice A. King, respectively the CEO and advisory council chair of Ready Life, are teaming up to help folks with poor credit buy a home by using rent payment history for mortgage underwriting.

The move builds on the government-sponsored enterprise’s previous program that facilitated the collection of more rent payment records from tenants who work with its multifamily borrowers.

The conflicting analyses of automated valuation models highlight a challenge lenders could face in deciding whether to use them to determine racial disparities in home evaluations.

While compliance specialists will be in demand, loan producers will see their roles change to encompass responsibilities that include more marketing and client development.

The firm cut staff from junior to senior employees in nearly every department and is left with a 325-worker headcount, a spokesperson confirmed.