Truist is using an AI tool from Dark Matter Technologies for underwriting processes while having humans validate the results. Meanwhile, MISMO is working on a framework for AI.
Players in the non-agency market are touting the benefits of thoughtfully using artificial intelligence for debt service coverage ratio loans and residential transition loans.
Lenders are ultimately responsible for the quality and accuracy of appraisals. That means their quality control teams need to review every appraisal to preserve rep-and-warrant protection.
Since 2020, borrower-paid costs have steadily increased and remain elevated, but new research suggests that policy changes could improve affordability.