Lenders surveyed by Altisource cited technology as one of their biggest challenges, while also selecting technology enhancements as an important factor to increase business.
Researchers at the think tank focused on the presence of appraisal bias during refinancing transactions because such loans “lack an arm’s length transaction.”
The traditional models used to predict consumer credit performance and newer machine learning methods can be extremely inaccurate, according to a new report.
Incorporating alternative data into the underwriting model with rigorous front-end control may help eliminate racial inequality in housing, according to industry analysts.
Many potential buyers haven’t been able to take advantage of low mortgage rates because home prices have increased faster than income, limiting affordability.
The Independent Community Bankers of America said it plans to collaborate with the CFPB to test certain community bank-inspired improvements to the TRID rule through the trial disclosure “sandbox” program.