When an industry’s incumbents can’t win on merit, they stop competing and start restricting. The MLS feed cutoffs to Zillow are the latest version of this pattern. Taxi commissions tried to slow Uber in 2014. They didn’t fight on product. They couldn’t. Uber was easier, cheaper and the cars were cleaner. So they pushed regulators […]
Opinion: Compass has made the MLS its proxy Read More »
There is an ongoing debate in mortgage lending about whether the industry is fundamentally broken or simply experiencing another cycle of technological evolution. Over the past decade, lenders have invested heavily in automation, OCR, verification services, title integrations and income validation tools. Artificial intelligence is now emerging as the next expected leap in efficiency. Yet
Submit-to-close Decline Signals Mortgage Process Inefficiency Read More »
Mortgage lenders are suing their former loan officers to recoup five- and six-figure sign-on bonuses. Processing Content AnnieMac has filed clawback lawsuits against two former originators for $75,000 and $500,000, according to new case filings in federal court. CrossCountry Mortgage meanwhile is seeking to enforce an arbitration award of $120,000 against an ex-LO in a
Clawbacks return as lenders sue LOs to return large bonuses Read More »