Mortgage executives believe reverse-mortgage products are a valuable tool to boost originations as the average age of homeowners is increasing and more seniors are looking for ways to take advantage of the equity in their homes.
Michael Patterson, chief operating officer at Freedom Mortgage, said intelligently using data collected from borrowers is key to improving customer experience and boosting retention.
Leaders at the three major credit bureaus, which own VantageScore, expect to see strong revenues and profits as the GSEs allow VantageScore to compete with FICO.
Rocket Mortgage is leaning on artificial intelligence to improve lending efficiency. The nonbank is wrapping up its acquisition of Mr. Cooper and already seeing benefits from its acquisition of Redfin.
Mortgage rates aren’t expected to move down much even if the Fed cuts interest rates next month; GSE economists slash projections for home price appreciation; ICE integrates origination and servicing platforms to originate home equity loans; majority of homeowners feeling financially stressed.