National Mortgage News - June-July-August 2023

AUTOMATION TO REACH THE NEXT GENERATION

Mortgage companies are using AI and other tools to reach those who expect nothing less than a super-personalized and interactive experience from their online services.

But a large gap exists in the degree of energy and investment depository institutions put in their customer acquisition efforts versus nonbanks, according to Arizent research.

Both Flagstar and Deephaven tout the practice of sharing their market expertise with the mortgage brokers and bankers doing business with them.

The Community Home Lenders of America is asking Fannie Mae and Freddie Mac's regulator to consider automatic indemnification on performing loans with flaws.

Following the removal of one contentious part of its new grid in response to criticism, the agency is seeking more feedback on remaining changes it's made or proposed.

Call center staff must learn to play a new role as forbearance ends, according to Adam Saab, vice president and head of early stage default at Cenlar.

This summer, the Department of Veterans Affairs will introduce a new kind of a "last-ditch effort" to keep veterans in homes, by making servicers whole and putting the delinquent borrowers on an exclusive interest rate.

Limited regulation and elevated volatility limit current activity, but new offerings are still finding their way to market.

People in the industry use the terms interchangeably, but Washington State is warning brokers that they are not the same and other regulators could follow.

Also, Polly appoints two new chief officers, Supreme Lending adds marketing leader and Regions Bank welcomes affordable housing finance expert.

Despite the "wow" factor, programs like ChatGPT are not, by themselves, the right tool for anything in the home loan space, argues the Director of Research at FormFree and Associate Director of the Institute for Artificial Intelligence at The University of Georgia.