Technology

Electronic notes did come in handy this year given the mortgage industry's need to operate remotely, but they also increase the government-sponsored enterprises' responsibility for monitoring the risk of multiple counterparties.

The potential acquirers included a "go shop" provision as a sweetener in the rejected offer.

Any roadmaps for client service that existed before the pandemic have changed, according speakers at DigMo2020.

The government-sponsored enterprise’s seller/servicer guide is now integrated into the online portal. Freddie also improved the readability of loan-level reporting it provides, and has further changes in the works.

Quicken Loans president and COO, Bob Walters, provided the first keynote of the 2020 Digital Mortgage Conference and gave insight into how this year changed the industry.

Many states currently have temporary work-from-home guidance for licensed mortgage professionals that extends through at least Dec. 31, but some have fall expiration dates.

Only 18% of refinance borrowers returned to the same lender in the second quarter, the second lowest rate since 2005.

Jonathan Corr's departure from the nation's largest loan origination system company follows the completion of its sale to Intercontinental Exchange.

The company's remote online notarization provider, Notarize, says it's on track to close $100 billion in mortgage volume over the next 12 months.

The final version of the amended rule, like the original proposal, makes fair lending claims tougher to prove; but it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination.