Although employment in the mortgage industry has been fairly robust the past few years, it’s been a dicey proposition for real estate appraisers. According to figures compiled by the Appraisal Institute, a national trade group that represents the sector, there were 82,208 active license holders at last count, down 8.1% from four years earlier.
The majority of lenders now offer a front-end digital mortgage process for borrowers but there is considerable variability in adoption rates for various back-end processes, a survey by Strategic Mortgage Finance Group showed.
MBA CEO Bob Broeksmit: “We have made our concerns known to Treasury and request that IRS employees performing this vital work be deemed essential so loan closings can continue without further interruption.”
An association of mortgage brokers has partnered with a technology company to create a platform brokers can use to interact with different wholesale lenders and vendors. The platform will allow brokers to check pricing among various wholesale lenders, lock interest rates and upload documentation from borrowers, among other features. The platform is called Arive and was developed by a company with the same name. Members of the Association of Independent Mortgage Experts ...
Legislation is needed to establish a digital registry system for mortgages and titles, according to two industry analysts, who recently released the Simplified Mortgage and Recorded Title Act, a proposed bill they claim will help prompt the return of a robust private secondary market for mortgages. The proposed legislation was drafted by William Fry, the sole proprietor of Greenwich Capital, and Robert Hockett, a professor at Cornell Law School. Prospects for the SMART Act look ...
Digital mortgage is the cornerstone of Ginnie Mae’s efforts to modernize its operating systems as it vies for industry leadership in technology and innovation, according to top agency executives.
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