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.
Six of the top 10 significant defects in loans acquired by Fannie Mae in the first quarter of this year weren’t on the list in the last quarter of 2023. Income calculation, though remained at the top of the list.
A court recently ruled that the fall in Rocket’s stock price following the release of first-quarter 2021 earnings was driven by substantive disclosures rather than public statements by the company’s CEO.
Generative artificial intelligence tools can be used to help mortgage lenders develop relationships with clients and investors, according to industry stakeholders.
Government agencies, philanthropic organizations and the housing finance community must work together to create funding sources for home repair programs to help sustain affordable homeownership, according to the Joint Center for Housing Studies at Harvard University.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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