Technology

While the mortgage industry heads in a digital direction, homebuyers are still expecting a more electronic experience during the mortgage process, which would also stand to benefit lenders.

Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue.

Lennar Corp.'s home finance subsidiary with the help of Blend rolled out its own digital mortgage platform, as another small lender tries to keep up with Rocket Mortgage.

Technology startup Eave is making a foray into Colorado's fast-moving, high-end mortgage lending market by offering software designed to quickly analyze jumbo borrowers' more complex incomes and assets.

Tech vendors Merscorp Holdings and eOriginal have developed a suite of tools for small and midsize mortgage lenders to close fully electronic loans.

Ranieri Solutions, a fintech investment firm in the mortgage space, has partnered with blockchain and smart contract company Symbiont to explore opportunities to implement blockchain technology in the mortgage industry.

The agency’s acting director uses a reply letter to the senator not to answer her questions but to underscore that Congress lacks the ability to compel answers to such questions.

While mobile applications have become increasingly present in the originations segment of the mortgage industry, they're now making their mark in the servicing space.

The financial services industry and community reinvestment advocates both praised the Treasury Department’s recommendations for reforming Community Reinvestment Act enforcement.

The Treasury's recommendations come as federal bank regulators have indicated they will soon release a proposal to reform Community Reinvestment Act policy.