Technology

To keep up with demand during the coronavirus pandemic, the mortgage industry must push other initiatives to the side in favor of ramping up the use of tech tools, according to Planet Home Lending.

While home showings in the Twin Cities have plummeted in recent weeks and sales of upper-bracket houses are sputtering, first-time buyers are still in the market.

As the mortgage and real estate industries traverse the challenges of the increasingly digital coronavirus landscape, title agents and their integral part of the process can get overlooked.

Williston Financial Group accounted for a pandemic in business continuity plans, and it helped some, but COVID-19 was a much larger scale than it anticipated.

Joe Welu, CEO and founder of Total Expert, provides his perspectives on how the coronavirus pandemic impacts the mortgage industry and ways lenders can push forward.

Consumer needs are in flux and Top Producers were looking at technology and risks associated with unexpected financial challenges as areas where they weren't yet meeting those needs. The coronavirus only intensified the urgency.

Real estate crowdfunding company Sharestates launched a program Wednesday offering liquidity to private lenders and loan aggregators contending with margin calls as a result of market volatility related to the coronavirus outbreak.

As delving further into digitization becomes more the standard, loan officers across the country know artificial intelligence is the next evolution in mortgage technology.

As social distancing related to the coronavirus complicates work for appraisers, real estate agents and construction lenders, professionals turn to technology and, in some cases, ask consumers to pitch in.

Mortgage technology efforts have historically been behind the curve, but some recent responses to the coronavirus highlight instances where it rises to the occasion.