Aug 28, 2:00pm While the volume of distressed loans insured by the Federal Housing Administration and Department of Veterans Affairs is down from its peak, the mortgages are no less complicated to service.
As purchase mortgages continue to dominate overall industry volume, lenders aren't letting the extra work required to close these loans affect their productivity.
Everyday lenders become more and more challenged to deliver a competitive modern consumer experience, expedited loan fulfillment, heightened loan quality and per loan profitability, reduced fraud, risk exposure and per loan costs.
United Wholesale Mortgage has set out to be an ally to mortgage brokers in unprecedented ways as CEO Mat Ishbia works to evolve the channel's transactional nature into a more relationship-driven dynamic.
When big banks bailed on brokers during the housing crisis, United Wholesale Mortgage doubled down. As third-party originations now make a comeback, the family-owned company is determined to chip away at retail lenders' dominance.
The measure, which has been compared to the EU’s new consumer privacy rules, grants Californians new rights over how companies collect and use their personal data.
While purchase mortgages account for a growing share of overall volume, industrywide investments in more automated and efficient underwriting processes have helped lower instances of fraud.
Fannie Mae and Freddie Mac are making condominium loans eligible for automated appraisal waivers that could reduce mortgage borrowers' fees and shorten closing times for lenders.
Most mortgage lenders and banks do not maintain a comprehensive vendor management strategy, exposing institutions to increased compliance risk, according to a recent survey.
