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Volume 15 - Number 20

September 30, 2011

Xerox Survey: eMortgage Acceptance Growing

The concept of the paperless mortgage is on the fast track to becoming the norm rather than the exception as technology advances improve productivity and influence thinking throughout the lending chain, according to a survey by Xerox Mortgage Services. Xerox’s seventh annual Path to Paperless survey found that most mortgage professionals now think online collaboration across multiple platforms is a key component to paperless mortgage adoption. Ninety-six percent of survey respondents indicated that working together through an electronic folder is crucial to achieving a more...

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Poll

Are current mortgage underwriting standards too tough?

Yes, they don’t reflect current market conditions and need to be adjusted to allow borrowers with below 700 FICO scores and smaller downpayments to qualify for mortgages.
Yes, and something needs to be done to significantly reduce repurchase or buyback risk so that lenders don’t apply even tougher underwriting overlays.
No, the standards are appropriate given current risks and the major default problems the mortgage market has experienced over the past several years.

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