Better is touting investments in artificial intelligence to help slash costs tied to originating refis. The lender is also building a distributed retail operation to increase production of purchase mortgages.
MBA increases odds of a recession within next 12 months; new tools to verify employment, income; downpayment size increases in 2024; new proposals from MISMO; lender raises funds; Cardinal offers processing for brokers; new hire at Nationwide Mortgage Bankers.
When Rocket’s acquisition of Redfin could pay off; PennyMac sponsoring Team USA at Olympics; TransUnion brings on verification tool from Truework; Eastside Distilling now Beeline Holdings, a mortgage company.
MISMO is out with five proposals, including a tool to simplify standards adoption. Other new features include tech for credit modernization, appraisals and housing counseling.
While electronic closings offer faster turn times, adoption of the technology comes with some complications. Still, the share of eNotes is expected to triple by 2028.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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