Technology

The funding will be used to continue developing the automation Brace provides for distressed loan servicing and other related services.

If you are underbanked you probably have limited access to mainstream financial services normally offered by retail banks. Many fintech startups offer alternative ways to measure credit risk, and assert that their products can help extend financial services to consumers who have not been well-served by traditional banks.

The deal will add to SitusAMC’s tech suite, making the connection between loan originators and lenders more efficient.

When the Uniform Residential Loan Application transition deadline hits on March 1, a data set within Fannie Mae’s Desktop Underwriter Program, which many lenders have used for a host of functions, will no longer be supported and unprepared lenders could later experience disruption.

A panel appointed by the Consumer Financial Protection Bureau said Congress should consider authorizing the bureau — and not the Office of the Comptroller of the Currency — to issue federal charters to fintech companies.

The transaction was led by existing investor Insight Partners, with TVC Capital as a minority partner.

As housing and lending companies try to eradicate racism and bias from their industries, automated valuation tools could help reach that goal, according to the American Enterprise Institute.

Challenger banks aimed at Blacks, Hispanics, immigrants and other underserved groups are offering financial education and support for charities in addition to basic banking services.

Remote online notarization helped originators close loans amid social distancing measures, but complex local laws remain a barrier to its widespread use.

This year, the mortgage industry demonstrated an unlikely agility and willingness to learn, but 2020 also reinforced where the industry is weak and needs to adapt — quickly — to be able to compete, Capacity Senior Adviser John Heck says.