Fed researchers find nonbanks improve the quality of their mortgage servicing by specializing in low-income borrowers.

Remote online notarization provision dropped from defense bill; credit unions allowed to acquire MSRs from other credit unions; new document processing technology offering; mortgage tech vendor raises capital; automated mortgage assistance product offered to distressed mortgage borrowers, for a fee.

The government watchdog found few instances where lenders incorporated alternative data in their underwriting.

Start-up mortgage lender Beeline completes Series A funding; HouseCanary publishes report defending its AVM; DC attorney general introduces legislation aimed at the use of algorithms by companies in the housing sector; LoanLogics acquires LoanBeam.

Black Knight increased its earnings in the third quarter of 2021 compared with the prior quarter while Blend Labs took a loss after earning a small profit in the second quarter.

A Redwood executive shared how new tech was implemented at the company, largely revolving around features improving customers’ experience.

Lenders and servicers don’t see much use in blockchain technology for now; Mat Ishbia abruptly terminated a stock offering involving United Wholesale Mortgage; federal banking regulators set computer-security disclosure requirements; nCino to acquire SimpleNexus.

With margins expected to decline, mortgage companies are looking to cut costs. Options include outsourcing and automation.

A recent study found a vast majority of borrowers prefer to close in-person. Possible lesson: The benefits of new technology should be carefully weighed against its costs, Stratmor says.

Fitch revised its outlook for Provident Funding Associates to negative due to competition in the wholesale channel but upgraded its rating of UMM’s unsecured debt. MISMO is seeking comments on tech that would help obtain MI quotes.