As banks continue to invest in artificial intelligence software — at the end of last year, 40% of respondents in an American Banker survey said they planned to increase AI spending in 2025 — the question arises, are they seeing a return on this investment yet? In a follow-up American Banker survey released in May, […]
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After embarking on an ambitious project designed to ease the technological processes and interfaces of the reverse mortgage industry compared to traditional mortgage workflows, the Mortgage Industry Standards Maintenance Organization (MISMO) announced this week that the latest version of its reference model includes reverse mortgage features. On Tuesday, MISMO announced that the new version has
New MISMO reference model includes reverse mortgages Read More »
California-based Partner Real Estate has announced a new business model that offers real estate agents access to tools, coaching and operational infrastructure for less than $5,000 per year. “The industry is at a turning point,” CEO Rudy Lira Kusuma said. “Agents shouldn’t have to spend six figures to perform like a top producer. Our mission
Partner Real Estate unveils $5K model for agent support Read More »
AI-based tools are now substantially reducing both the time and labor of routine mortgage processing. Traditional procedural steps—such as employment proofing, income verification, fraud detection and title checks—have long resulted in an unnecessarily lengthy time for a mortgage application’s approval. But the potential benefits of the AI revolution in mortgage lending aren’t just speculation; they are
How AI is already transforming—and improving—the mortgage underwriting process Read More »
Millennial homebuyers (born between 1981 and 1996) are reshaping the real estate landscape with their strong preference for digital tools and technology-driven experiences. As the largest cohort of homebuyers in the U.S., their tech-first approach influences how properties are marketed, searched and purchased. Here’s the hard truth. If these buyers are looking online for lenders
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DIY automation pitfalls/myths: It’s time to rethink your strategy In today’s mortgage industry, nearly every organization is battling inefficiencies caused by manual processes. Whether it’s a loan officer pulling data from one system to enter it into another, or underwriting teams relying on endless email threads and spreadsheets, the day-to-day operations behind most lending workflows
DIY automation isn’t always a win: What mortgage lenders need to know Read More »
MetroList, the largest MLS in Northern California, has rolled out a new “add/edit” voice-controlled app for real estate agents to collect and input property data directly from the field. The app, developed in partnership with real estate technology company Lundy Inc. — allows agents to speak property details aloud while walking through homes, with the
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Amid a surge in AI adoption and mounting cybersecurity threats, only 51% of nonbank mortgage lenders say they feel fully prepared to handle compliance risk — a warning sign in an industry that’s undergoing rapid digital transformation. That’s according to a new joint study from HFS Research and Cognizant. “Reinventing Non-Bank Mortgage Lending Journey in the Age of
Mortgage lenders lag on compliance as tech evolves rapidly Read More »
Widespread industry adoption of electronic promissory notes presents challenges but has steadily gained momentum over time as various aggregators sign on, and one is paying up for certain downpayment assistance loans using them. Western Alliance’s Amerihome, the largest bank-owned correspondent investor in the mortgage business, recently got on board with e-notes. Also Click n’ Close,
Lenders bet on e-notes as adoption ramps up Read More »
Google has launched a joint effort with the Financial Services Information Sharing and Analysis Center, or FS-ISAC, that will combine the search giant’s threat detection capabilities with FS-ISAC’s network and intelligence sharing to prevent fraud within the financial sector. The program, announced Wednesday, is dubbed the Financial Services branch of Google’s Priority Flagger Program, according
New partnership helps banks flag fraud on Google Read More »