News Topic: Digital mortgages

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Credit unions were already transforming their home loan operations before COVID-19, but many of the adjustments made as a result of the outbreak are likely to become permanent. ]] ... Read full article

As the refi boom continues, many lenders will need to find the right balance of staffing and technology to meet members’ needs. ]] ... Read full article

Remote online notarization helped originators close loans amid social distancing measures, but complex local laws remain a barrier to its widespread use. ... Read full article

The company aims to help borrowers apply for home loans in as little as 15 minutes by automating immediate validation of bank information used in qualification. ... Read full article

The two companies first started collaborating last year, but now BBVA has white-labeled Prosper’s technology on its own website. ... Read full article

When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly. ... Read full article

From finding new efficiencies to redefining the customer experience; fintechs are permanently changing financial services. But what does the actual acquisition process look like? ... Read full article

The coronavirus pandemic has turned every industry on its head. For lending, it exposed the need for modernized, fully digital platforms. ... Read full article

The final version of the amended rule, like the original proposal, makes fair lending claims tougher to prove; but it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination. ... Read full article

The product, which is also aimed at community banks, includes a "take-back" option that allows consumers to withdraw extra funds they've paid that go beyond their monthly scheduled mortgage payment. ... Read full article

The pressure is on the fintech, which helps banks make digital loans, to stanch its losses and show its lofty market valuation was deserved. ... Read full article

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all. ... Read full article

More digital competition, tougher tech choices and a completely new generation of customers are just some of the challenges facing bankers in the near future. ... Read full article

Wealthfront will add third-party mortgages to its investing platform, while Varo Money says robo advice and mortgages are in its long-term plans. ... Read full article

Freddie Mac's test of artificial intelligence to make lending decisions could be a significant turning point in broadening the use of the technology. ... Read full article