The ways in which servicers interact with borrowers can play a major role in whether the lender/servicer will retain the customer, according to a Stratmor study. Borrowers tend to like email communication.
Fraud risk on purchase mortgages increased in November after falling for six consecutive months, according to First American. The risk could be contained as long as interest rates stay relatively low.
The application of blockchain technology in asset securitizations is growing faster in China than in other parts of the world, with at least eight deals completed.
Steven Stallard, owner of Insight One companies, launched a new specialty firm to provide targeted recovery, component servicing, legal, back-office and outsourcing services to mortgage lenders and servicers.
Loan workout applications on the whole have improved, though new servicer metrics introduced by Fitch in the third quarter are showing some disparity in completion rates.
Mortgage fintech lender Better.com plans to hire veterans and military spouses and recently closed on Series C funding. Other mortgage startups are also in a capital-raising mode.
A lack of data standardization is holding back adoption of digital mortgage processes, according to a survey of tech vendors. Fannie Mae is urging the industry to adopt standards set by MISMO.
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