The Money Source hopes to double its volume of subservicing contracts to almost $8.0 billion by yearend, capitalizing on what it feels is an underserved market: Smaller clients that don’t receive hands-on service from the giants of the industry, namely Cenlar and Dovenmuehle. At least that’s the view from TMS President Ali Vafai, who says there’s a huge “void” of subservicers that can effectively handle high-touch product, especially Ginnie Mae receivables. “The problem is that some Ginnie subservicers ...
Two new mortgage underwriting solutions designed to help lenders streamline their current mortgage workflows and reduce cost, as well as enable them to assist non-prime borrowers to obtain home loans, have hit the market. CoreLogic’s AutomatIQ Borrower streamlines underwriting by digitizing, standardizing and automating borrower analysis and verification. The tool bridges the gap between point-of-sale and underwriting to create a smoothly running mortgage origination process ...
Lenders looking for efficiencies should adopt artificial intelligence, machine learning and blockchain, according to various technology vendors. They claim that the technology can be implemented without exceptionally high costs but caution that early adopters face some risks. AI is generally defined as a collection of machine-learning algorithms assembled for certain tasks. Blockchain is distributed ledger technology. The tech was an area of focus at the ABS East conference ...
Commercial banks and savings institutions repurchased only $422.7 million of single-family mortgages during the second quarter of 2018, according to an analysis of call-report data by Inside Mortgage Trends. It was the lowest three-month repurchase total for the industry since regulators began collecting this data back in 2008. Repurchases, including other indemnification for investor losses, were down 42.3 percent from the first quarter. The call-report figures ... [Includes one data chart]
Although servicing brokers posted brisk sales figures for the first half of the year, the third quarter has been tepid, with buyers catching their breath while trying to figure out their next move.
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