Mortgage technology

A group of big financial institutions wants to use the blockchain to help resurrect the packaging of home mortgages into securities, a business that almost destroyed the global banking system in 2008.

Despite digital mortgage advances, borrowers think it still takes too long to get a loan, J.D. Power finds in its annual customer satisfaction ranking of originators.

The CFPB's practice of "regulation by enforcement" forces mortgage companies to develop compliance standards based on the mistakes of their peers, rather than clear guidance from the enforcement agency, said David Motley, the new chairman of the Mortgage Bankers Association.

It's not only regulation that is hurting profitability, but also banks' failure to adapt to the internet age, according to a recent study.

Experian and Finicity have released a product that aims to speed up decisions on mortgage applications, using financial data aggregation technology.