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Mortgage lenders are preparing for the biggest wave of delinquencies in history. If the plan to buy time works, they may avert an even worse crisis: Mass foreclosures and mortgage market mayhem.
April 2 -
Many banks have already scaled back home lending or even left the business. With profit margins shrinking, inventories of homes at crisis levels and competition from nonbanks intensifying, that’s unlikely to change.
May 29 -
Bill Emerson, the vice chairman of Quicken Loans, said mortgage lenders need to give time to consider innovation and not be deterred by naysayers.
September 18 -
At Digital Mortgage 2018, Bill Emerson, the vice chairman of Quicken Loans and its parent company Rock Holdings, outlined a vision of dramatic digital disintermediation.
September 18 -
Early adopters took digital mortgages from concept to reality. What will it take for everyone else to catch up?
September 10 -
Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.
August 24 -
Paycheck information gleaned from bank accounts is emerging as an alternative to verifying a mortgage applicant's income and employment with a 4506-T tax transcript request to the IRS.
June 20 -
Mick Mulvaney’s recent comments about the CFPB Qualified Mortgage rule have triggered a debate over whether regulators should take into account more than one underwriting model.
May 17 -
While the West Coast still reigns as the epicenter of technology development, the Detroit area has quietly emerged as a proving ground for digital mortgage innovations.
April 17 -
Lenda, launched in 2014, currently makes mortgages start to finish in two weeks. But it's aiming to make it a process that can be finished on a borrower's lunch break.
March 28