Technology

Companies are working to offer what they say are faster, more integrated digital products that can quickly stand up compliant workflows as forbearance is phased out and loss mitigation activity resumes.

Several federal agencies have recently stepped up requirements on banks to notify regulators and the public when they fall victim to cybersecurity incidents.

The ability to produce a cohesive, visible audit trail is “like nirvana” for lenders, ICE Mortgage Technology Vice President Christopher McEntee said.

Increased cybersecurity spending puts an extraordinary squeeze on smaller firms that struggle to maintain revenues amid the origination slowdown.

Sen. Cynthia Lummis, R-Wyo., says she and Sen. Gillibrand, D-N.Y., plan to release draft legislation next week that would establish a supervisory entity for emerging financial technologies and new rules for stablecoin issuers.

Lending that can fulfill Biden administration aims around equity and supply, like an FHA premium cut or financing for accessory dwelling units, remain possible, but late-cycle housing risk is a concern.

Mid America will retain its focus on technology, third-party originations and secondary market executions for specialty products while helping the acquirer expand the scope of its operations.

In the fourth quarter of 2021, home equity line of credit volume was up 31% from the same period the year before.

Cybercriminals can leverage the workflow of the digital firms against them by tossing a plethora of stolen credentials at an online loan application until they secure approvals, according to one expert.

The offering touts closings in as few as 10 days and allows homebuyers to compete with deep-pocketed investors and iBuyers.