With interest rates on mortgages set to come down, some lenders are looking to quickly adopt tech to help with originations. Blend Labs is seeing lenders use more of the tech vendor’s products and an automated refi offering is on the way.
Remote work increases for mortgage fulfillment; MISMO offers reference materials for ESG data; lenders frustrated with tech vendors; ICE updates Encompass; tech firms offer loan audits with AI.
Rocket is turning profits again after taking a loss in 2023. Now the lender is working to regain the market share it lost, using various strategies for both purchase mortgages and refinances.
Locks declined in June but, when controlling for the difference in business days compared with May, the decline vanishes; Fitch downgraded its long-term issuer default rating on Finance of America Companies to C; talent management topped cost cutting in Fannie’s latest survey of mortgage execs’ priorities; MISMO forms group focused on AI.
Some MSR buyers would rather focus on acquiring volume and leave the servicing duties to someone else. Subservicers are happy to provide the service, touting cost savings and innovations.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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