Digital verification of borrowers’ income, employment and assets can significantly reduce the length of the mortgage closing process. And the tech got a boost from the pandemic.
With refi lending expected to wane, lenders are planning to create a faster, more efficient experience for borrowers, according to a new study from Fannie Mae.
But does the bill have the numbers to pass the Senate? Investment banking firm Cowen and Company believes moderate Democratic lawmakers would present an obstacle.
Tomo was founded by two former Zillow executives with a sole focus on purchase mortgages. Meanwhile, three-year-old Lower recently completed a $100 million Series A funding round.
One lender says that when refinances go bust, the industry can’t expect to waltz into the purchase market without there being casualties. Others are more sanguine.
Sterling Bancorp recently reached a $12.5 million settlement for allegedly violating the Securities Act. The company is now ready to turn the page on its non-agency past.
If new policies that incentivize homeownership are not implemented, the Hispanic community will be the only ethnic group to experience an ownership gain.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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