National Mortgage News - September 2023

DIGITAL TOOLS TO RULE THE NEXT CYCLE

The ledger technology can make artificial intelligence systems more transparent, some industry stakeholders say.

Real-world use of the shared, immutable databases has become increasingly centered on piecemeal implementation in industry processes, which can be executed without waiting for broader technology reforms.

Working in tandem, they can help both the loan officer and a company increase their business and return on investment.

Plaintiffs accuse the NAR and the multiple listing services of antitrust violations because of rules around shared broker compensation fees.

Consumer advocates are protesting specific risk-weighting changes affecting borrowers with lower down payments. Also, a broader increase in requirements may discourage depository holdings of servicing.

The growing number of financially troubled customers and servicing transfers gone wrong helped to lower the overall industry score by 6 points, J.D. Power said.

A New Jersey federal jury sided with the subservicer's claims that the lender "fraudulently" took this sum in May 2016 when it was transferring back its portfolio.

Originators said they appreciate the easy sign-up and are optimistic after the social media app's rapid growth.

Companies that don't use the technology on average pay $1.76 million more and take 108 days longer to respond to incidents than firms that utilize it.

Fannie Mae and Freddie Mac can likely withstand potential credit losses twice as high as last year's in the latest scenario, but they are at more risk of slipping into the red.

The Department of Housing and Urban Development would permanently allow servicers to use online and remote communications to establish borrower contact, as they did during the pandemic.

Also, Cenlar welcomes client management leader, NFM promotes influencer-marketing executive and Guzzo & Co. hires transgender chief operations officer.

Lenders must ensure that compliance and risk management teams are fully staffed and supported at the highest levels of the organization, writes the director of technology product management at Wolters Kluwer.