Fannie Mae and Freddie Mac have both integrated the fintech’s digital version of IRS Form 8821 to confirm borrower income.

Remote work increases for mortgage fulfillment; MISMO offers reference materials for ESG data; lenders frustrated with tech vendors; ICE updates Encompass; tech firms offer loan audits with AI.

Rocket is turning profits again after taking a loss in 2023. Now the lender is working to regain the market share it lost, using various strategies for both purchase mortgages and refinances.

CoreLogic and Equifax launched new income verification tools ahead of an anticipated increase in purchase originations.

The lender’s new Loan Lift program tracks data such as rent payments and peer-to-peer payment app transactions for mortgage underwriting.

The evolving technology, while helpful, presents many risks and benefits, according to Bob Broeksmit, CEO and president of the MBA.

NYCB scales back with sale of Flagstar’s mortgage operations; Cornerstone Bank makes leadership hires; MISMO working group on AVMs; AI updates.

Locks declined in June but, when controlling for the difference in business days compared with May, the decline vanishes; Fitch downgraded its long-term issuer default rating on Finance of America Companies to C; talent management topped cost cutting in Fannie’s latest survey of mortgage execs’ priorities; MISMO forms group focused on AI.

Some MSR buyers would rather focus on acquiring volume and leave the servicing duties to someone else. Subservicers are happy to provide the service, touting cost savings and innovations.

The rise in gig work and side hustles has led to new automation tools for non-QM underwriting for self-employed borrowers.