Digital mortgages

As the refi boom continues, many lenders will need to find the right balance of staffing and technology to meet members’ needs.

Remote online notarization helped originators close loans amid social distancing measures, but complex local laws remain a barrier to its widespread use.

The company aims to help borrowers apply for home loans in as little as 15 minutes by automating immediate validation of bank information used in qualification.

The two companies first started collaborating last year, but now BBVA has white-labeled Prosper’s technology on its own website.

When both origination and forbearance demand spiked in the early weeks of COVID-19, quick thinking lenders were able to leverage their expertise and tech stacks to respond quickly.

From finding new efficiencies to redefining the customer experience; fintechs are permanently changing financial services. But what does the actual acquisition process look like?

The coronavirus pandemic has turned every industry on its head. For lending, it exposed the need for modernized, fully digital platforms.

Banks, lenders, and fintechs have been on a path toward digitizing the mortgage process from end-to-end — long before the term coronavirus entered our daily lexicon. How has the pandemic affected progress?

The final version of the amended rule, like the original proposal, makes fair-lending claims tougher to prove. But it does soften language that otherwise might have allowed mortgage companies to use algorithms to prove nondiscrimination.

The product, which is also aimed at community banks, includes a "take-back" option that allows consumers to withdraw extra funds they've paid that go beyond their monthly scheduled mortgage payment.

The pressure is on the fintech, which helps banks make digital loans, to stanch its losses and show its lofty market valuation was deserved.

The bill, backed by the New York Credit Union Association, has cleared the Senate, but a companion bill is stuck in committee in the Assembly.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

More digital competition, tougher tech choices and a completely new generation of customers are just some of the challenges facing bankers in the near future.

Wealthfront will add third-party mortgages to its investing platform, while Varo Money says robo advice and mortgages are in its long-term plans.

Freddie Mac's test of artificial intelligence to make lending decisions could be a significant turning point in broadening the use of the technology.

Capacity, formerly Jane.ai, originally designed its chatbot to answer consumers' questions, but when employees started using it, that gave the startup an idea for a new business line.

The Alabama bank, which is spending hundreds of millions on technology, says the ability to make faster credit decisions is one reason digital metrics such as checking account openings are soaring.

After years of largely standing on the sidelines, lawmakers are taking a closer look at whether algorithms used by banks and fintechs to make lending decisions could make discrimination worse instead of better.