Browse articles from all of our Newsletters related to Technology.

September 22, 2017 - Inside Mortgage Trends

Tech Helps Lenders Avoid Costly TCPA Lawsuits

Lawsuits arising from violations of the Telephone Consumer Protection Act have increased tremendously over the last couple of years and technology has been trying to stem the tide. By all accounts, TCPA litigation is out of control, wrote Charles Insler, an attorney in the St. Louis office of Hepler Broom, in an analysis of TCPA litigation trends earlier this year for the American Bar Association. Quoting from a 2016 opinion from the Seventh Circuit, Insler noted that TCPA litigation has ...

September 22, 2017 - Inside Mortgage Trends

Multiple Roadblocks Stymie Digital Lending

Most of the hindrances to wider adoption of digital mortgages have to do with the many moving parts associated with the mortgage transaction as well the numerous parties involved with it, and not the legal landscape, according to one top attorney. “The common misconception is that there are a lot of legal roadblocks [to paperless lending]. And there certainly are some. There are some states that don’t support it as fully as would be necessary,” Scott Samlin, a partner with ...

September 22, 2017 - Inside Mortgage Trends

Underwriters Experiment with ‘Alt’ Data

A number of lenders outside of the mortgage market are starting to rely on alternative data to help make underwriting decisions. The Consumer Financial Protection Bureau is also encouraging use of such alternative data sources, which could prompt adoption by more lenders. Speaking at the ABS East conference produced by Information Management Network this week in Miami Beach, Joanne Gaskin, a senior director at FICO, said some lenders are relying on ...

September 21, 2017 - Inside Mortgage Finance

Why Should Mortgage Lenders Go Digital? That’s Where the Customers Are, Pros Say

Much of the historical discussion about the mortgage industry going fully digital and adopting e-mortgages has revolved around cost savings, greater efficiencies, validating compliance and other benefits. But at the end of the day, the biggest reason is that lenders’ customer base is increasingly focused on digital technology, and lenders need to go where the borrowers are. “That’s where the consumers are, right? Finally, everybody’s going online to shop for most of their products, and mortgages are starting to happen the same way,” said Tim Anderson, director of eServices for DocMagic, during a webinar last week sponsored by Inside Mortgage Finance. “They’re going out there looking for rates and pricing, they’re looking for real estate. If you want to capture that marketplace, you meet them out there in cyberspace.” Scott Stephen, president of the online division of Guaranteed Rate, noted...

September 21, 2017 - IMFnews

Why Should Lenders Go ‘Digital’? Because That’s Where the Customers Are

“Everybody’s going online to shop for most of their products, and mortgages are starting to happen the same way,” said Tim Anderson, director of eServices for DocMagic, during an Inside Mortgage Finance webinar…

September 20, 2017 - IMFnews

Short Takes: Did Wells Dodge a Bullet on its CFPB Fine? / A ‘Recommendation Memorandum’ / No Effect on Wells’ Mortgage Business / Subject the CFPB to Appropriations / Stearns Goes ‘Digital’

Wells Fargo could have been subject to a whopping $10 billion fine...

September 18, 2017 - IMFnews

Nonbank Lenda Gets Backing of $5.25 Million

Lenda originally began as a refinance provider in 2013…

September 15, 2017 - IMFnews

Interest in Mortgage Tech Heats Up

Blend announced a stunner – it had raised $100 million in “Series D” funding…

September 14, 2017 - Inside Mortgage Finance

United Wholesale Keeps Funding Startup Grants For Brokers, but Doesn’t Have Much Company

At least 40 new loan brokerage firms have been created this year thanks to $500,000 in grant money donated last fall by United Wholesale Mortgage, Troy, MI. In fact, the effort has been so successful that, UWM – which is the largest table-funder of brokers – recently kicked in another $100,000. As for future growth in the initiative, that’s hard to say. UWM, so far, has been...

September 13, 2017 - IMFnews

Short Takes: At SoFi, CEO Cagney is Out. As for the IPO… / Stock Options as an Enticement / Patenaude Nomination Could Get a Vote / Flawless TRID Implementation? / Arbolida to Manage LA Branch for Finance of America

It’s possible that the nomination of Pam Patenaude to be the number-two at HUD could get a floor vote this week...

September 8, 2017 - Inside Mortgage Trends

Interest in Mortgage Tech Heats Up

Over the past few weeks, two $100 million-plus transactions involving mortgage technology companies have been announced, signaling that more activity may be ahead in the space as residential finance moves toward the digital age. “This is an interesting time,” said consultant Jeff Lebowitz, a former Fannie Mae executive who has been tracking tech changes for two-plus decades. “There’s a paradigm shift going on. Outside guys are coming in, thinking there’s big changes ahead for ...

August 29, 2017 - IMFnews

New Online Lending Platform Hopes to Put Loan Officers Out of Work

“The NOLO platform allows customers to complete the mortgage lending process entirely online without the industry standard loan officer interference at each step,” 360 said.

August 25, 2017 - Inside Mortgage Trends

New Online Lending Platform Dumps Loan Officers

Are loan officers headed for extinction? There certainly will be much less of a market for them in the future if the new online platform, No Originating Loan Officer, being rolled out by 360 Mortgage Group, a privately-owned mortgage banking firm based in Austin, TX, takes hold across the industry. On the other hand, fewer humans in the mortgage lending mix may mean fewer opportunities for errors, cutting compliance corners or engaging in steering and other discriminatory practices that ...

August 17, 2017 - Inside Mortgage Finance

Mortgage Servicers May Be on the Cusp of a New Era But Borrower Satisfaction Suddenly Takes a Hit

With the troubles from the financial crisis fading in the rear-view mirror, the residential mortgage servicing industry could be on “the edge of glory,” if companies can elevate their game and keep it at a high level, according to analysts with S&P Global Ratings. “The financial crisis left mortgage servicing hanging on a moment of truth,” they said in a new report. “This led to substantial changes in the industry in the past 10 years, the effects of which are still being felt today.” The changes included...

August 17, 2017 - Inside Mortgage Finance

Mortgage Lenders Starting to Use Webcams to Close Loans, Providing Borrowers More Flexibility

Mortgage closings moved out of the office years ago to places more convenient for borrowers. Now, technology allows closing to occur without all the parties being present in the same place. United Wholesale Mortgage claims to be the first lender to have completed a “virtual e-closing” with a refinance that closed at the end of July. The lender allowed the borrowers and notary to use webcam technology and electronically sign all of the closing documents. Previously, lenders offering e-closings have required some in-person contact with a notary to e-sign closing documents. “This ultimately eliminates...

August 17, 2017 - IMFnews

Lenders Starting to Use Webcams to Close Loans

The company is also working with Stewart Title...

August 17, 2017 - IMFnews

Short Takes: Changes for the HARP Program / Still Eligible: 143,000 / But Shrinking / Citadel Servicing Crosses $1B Mark / A New CIO for Freddie Mac

The FHFA estimates that roughly 143,000 GSE borrowers are still eligible to use the HARP program.

August 16, 2017 - IMFnews

Alternative Credit Scores for GSE Loans will Have to Wait for the Single-Security Project

Mel Watt called the credit score explorations one of the “most difficult” evaluations he’s taken on as FHFA director.

August 15, 2017 - IMFnews

Guild Mortgage Hires PHH’s CIO Gabe Minton

At PHH, from 2014 to 2017, Minton held the title of senior vice president and chief information officer.


The year is almost 75% done. How is mortgage origination volume at your shop?

We will fund about the same as we did in 2016.
We will fund more than last year – by a little.
We will fund more than last year – by a lot.
We will fund less than last year – by a little.
We will fund less than last year – by a lot.

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