Digital mortgages

Virus scare creates perfect storm for mortgage lenders


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.


7 things that will affect next stage of banking's evolution


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.


Two fintechs broaden banking ambitions


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


Can Freddie Mac's embrace of AI pull the industry along?


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


A virtual assistant for lenders' employees


Capacity, formerly, originally designed its chatbot to answer consumers' questions, but when employees started using it, that gave the startup an idea for a new business line.


Regions' big investment in digital is paying off


The Alabama bank, which is spending hundreds of millions on technology, says the ability to make faster credit decisions is one reason digital metrics such as checking account openings are soaring.


Do lending algorithms discriminate? Congress seeks answers


After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.


Warren, Jones press regulators on fintech lending discrimination


Sens. Elizabeth Warren, D-Mass., and Doug Jones, D-Ala., cited research that found algorithmic lending can lead to higher interest rates for minority borrowers.


De novo bets big on mortgages as other banks back off


Many community banks have given up on national mortgage platforms as not worth the effort, but organizers of NXG Bank in Maryland say they have a plan to make one work.


Can blockchain cut down closing costs?


Provenance Blockchain, recently spun off from Mike Cagney's Figure Technologies, says it can help lenders trim 70% of mortgage settlement expenses through speedier processing and paperwork reduction.