Lock-in persists; eClosing found to provide pricing gains; home sales expected to increase; LOs shy away from AI; credit card offers rewards points for mortgage payments; steady profits for LendingTree from lead business.
Investments in technology are helping Mr. Cooper reduce its servicing costs and allowing the industry’s largest servicer to place competitive bids on servicing portfolios.
A new study from J.D. Power showed that mortgage servicers could better meet customer demands by implementing online chat and AI technologies into their workflows.
Lenders, servicers and tech vendors are touting their latest products that include AI; many borrowers don’t appear to be ready to embrace AI in the mortgage process; and a handful of non-AI announcements.