Mortgage technology

Borrower hunger for fully digital mortgages and data automation grows, with the end goal of accelerating the lending process as much as possible. But a fragmented industry stands in the way of that goal.

The mortgage industry is eager to adopt digital strategies like artificial intelligence to streamline processes, but they are finding it difficult to extend through the full lifecycle of the loan.

Mortgage costs to close surged in the last decade because of technological investments as borrowers clamored for speed and digitalization. Industry experts believe those costs will decrease in the near future once acclimation sets in.

Mortgage lenders are being forced to evaluate expenses carefully when deciding whether buying or building technology is the right move.

Lenders must do more to address the safety of borrowers' personal information as digital mortgage strategies spread and regulatory scrutiny increases.

A newer set of issues and opportunities presents itself for those embracing technology, involving everything from business strategy to cybersecurity.

Commercial and multifamily lending lags the technology available in the residential market. A look at how one expert thinks the gap could be closed.

The Federal Housing Administration is returning to manual reviews of higher-risk loans it insures because it's finding that a growing share have lower credit scores, higher debt-to-income ratios, or both.

PanoramIQ compiles and analyzes both public and proprietary property data, saving mortgage lenders time and costs by filling the gaps in property histories.

Technologies like Siri and Alexa will only make mortgage production more efficient if users communicate with them precisely and securely.

Borrowers were more than twice as likely to use a lender they found online in 2018 as they were in 2017, making search engines the mortgage industry's top source of referrals.

A patchwork of state laws makes it tough for lenders to adopt electronic notarization, but they'll need to if they want to make a fully digital mortgage a reality.

AI Foundry is aiming to further cut the time it takes to originate a mortgage by adding artificial intelligence tools designed to improve on optical character recognition.

Whether through greater investments in technology and talent, or streamlining back-end processes to improve the decision-making process, mortgage servicers are doing more to prioritize borrowers. Here's a look at seven of these borrower-focused initiatives and how they're reshaping mortgage servicing.

The Money Source has filed three provisional patent applications as part of its efforts to develop new innovations in mortgage servicing, including the use of blockchain technology.

With its latest round of funding, the mortgage fintech company will continue to build its digital platform, with a goal of reducing the complexities and costs of home buying.

Through digital validation and intelligent data automation, borrowers will know if their loan would be approved in as little as seven minutes and be able to close in eight days, according to loanDepot.

A significant percentage of consumers are willing to turn to technology companies for their financial needs, including applying for a mortgage, although they have trust issues with them, a Fannie Mae report said.

Mortgage and real estate professionals are navigating new technology to support a better consumer experience and grow their customer base, but those who lose sight of the end goal are in danger, according to Remax CEO Adam Contos.

With its new round of funding, the mortgage fintech company will look to expand its geographic reach and reduce the mortgage closing process to a week in 2019.