Mortgage technology

Joe Welu, CEO and founder of Total Expert, provides his perspectives on how the coronavirus pandemic impacts the mortgage industry and ways lenders can push forward.

Consumer needs are in flux and Top Producers were looking at technology and risks associated with unexpected financial challenges as areas where they weren't yet meeting those needs. The coronavirus only intensified the urgency.

As delving further into digitization becomes more the standard, loan officers across the country know artificial intelligence is the next evolution in mortgage technology.

As social distancing related to the coronavirus complicates work for appraisers, real estate agents and construction lenders, professionals turn to technology and, in some cases, ask consumers to pitch in.

Mortgage technology efforts have historically been behind the curve, but some recent responses to the coronavirus highlight instances where it rises to the occasion.

The Home Affordable Modification Program became a national blueprint for loss mitigation in the last crisis, but changes in the servicing landscape and circumstances call for a new approach now.

Mortgage industry technology providers are adjusting their processes to allow for originations to keep flowing through the system as the nation combats the coronavirus.

Maxex, a company that acts as a private exchange for residential mortgage sales, is seeing a pickup in business as sellers seek additional outlets for their nonagency loans.

Not so long after Treasury bond yields experienced an unprecedented drop, the average 30-year mortgage rate rose, reflecting volatility related to the coronavirus as well as capacity issues on multiple levels.

Terry Wakefield, a technology consultant who helped launch Fannie Mae's mortgage-backed securities business and form Prudential Home Mortgage, has died. He was 70.