Technology

There are no statutory restrictions on the books in any state prohibiting lenders from conducting mortgage closings electronically or remotely.

Fitch may use a new Structured Finance Association framework aimed at prioritizing only riskier TRID errors to assign grades to loans sold into residential mortgage-backed securities, reducing rating-related compliance burdens.

Better.com saw huge growth in mortgages to traditionally underserved customer bases in 2019 and believes digital applications led to the avoidance of discriminatory lending.

Despite assurances by Director Kathy Kraninger that the agency is cracking down on discrimination, it has not filed an enforcement action or sent a Department of Justice referral on a fair-lending violation in two years.

Figure Technologies appears to be one of the few companies to find a viable use case for blockchain in the financial industry — cutting down the costs associated with loan origination.

The SoFi co-founder said Figure Technologies is working with national banks to employ its distributed ledger tech for loan originations.

The percentage of home loans with late payments is unlikely to fall much further in 2020 when mortgages made to lower credit-score borrowers could rise slightly, according to TransUnion.

Hometap, a fintech company providing an alternative to traditional home equity lending, secured $100 million in new financing as it looks to expand its geographic reach.

The prequalification letter is a great way to move borrowers from casual tire kickers to committed applicants, but advances in digital verification will soon make it obsolete.

Wealthfront could roll out a debit card, automated bill pay and direct deposit in early 2020, Chief Executive Andy Rachleff said.