Technology

Technology at home is about wants, while technology at work should be about needs—business needs.

Technology can provide a do-it-yourself origination process. But are borrowers ready?

The government controlled Freddie Mac posted solid earnings of $1.1 billion in the second quarter – after paying the U.S. Treasury Department $1.8 billion in dividends on the preferred stock it owns.

Appraisers may have started to change their business practices one at a time probably only a few years ago, but their strategy shift and where they are headed already has started to become clear.

Community Trust Bank had $385 million in outstanding warehouse commitments at June 30, almost double what it had a year ago.

The Federal Housing Administration reported Monday that applications for streamline refinancings of existing FHA borrowers jumped 400% in June from the month prior. In total, 84,600 new applications came in.

Chip Mahan, the founder of the first online bank, Security First Network Bank, and current CEO of Live Oak Banking Company in Wilmington, N.C., has helped launch a cloud-based technology company called nCino that has already signed up Live Oak and five other banks.

The average cost to close a residential loan in the U.S. dropped 7% over the past year to $3,754, according to Bankrate.com’s eighth annual closing costs survey.

Mortgage bankers hired 7,800 full-time employees in June after adding 2,200 in May as managers tried to beef up capacity with their shops being swamped by a tidal wave of refinancings caused by record low interest rates.

In an exclusive interview with Mortgage Technology, Davis Henderson President and CEO Gerrard Schmid explains how the Canadian tech developer plans to combine Mortgagebot’s POS and Avista’s LOS technology.