In this article, we will analyze the bottlenecks due to a manual & paper intensive process that lead to loan defects. Based on this understanding, we will investigate the key business risks from such loan defects and how automation can play a role in mitigating these risks.
Category: News and Trends
Rick Triola: Proven a 2020 Best-Practice, RON Poised for Standard Operating Procedure in Mortgage Closing
For all intents and purposes, RON has truly been a global solution, and given the renewed effort at the federal level for nationwide RON authorization, the shift may happen sooner rather than later for any remaining nay-sayers.
Redfin: Relief from Red-Hot Market May Be on Way
Redfin, Seattle, said asking prices leveled off as pending sales–which were rising at this time in 2019–posted a 3% monthly decline. Homes still sold for record prices, at record speeds.
CoreLogic: Strong Improvement in U.S. Mortgage Delinquency Rates
CoreLogic, Irvine, Calif., said just 4.9 percent of all mortgages in the U.S. were in some stage of delinquency, the lowest rate in more than a year.
Hotel Profits Improve as Recovery Spreads
STR, Hendersonville, Tenn., said hotels saw an encouraging April as more revenue flowed through to the bottom line.
Share of Mortgage Loans in Forbearance Dips Slightly to 4.16%
The share of loans in forbearance haven’t moved much lately–but for the past 14 weeks, they’ve been moving down, the Mortgage Bankers said Monday.
MBA, Trade Groups Urge Federal Agencies to Continue Alignment of QM/QRM Frameworks
The Mortgage Bankers Association and a half-dozen industry trade groups asked federal regulatory agencies to hold implementation of new credit risk retention guidelines until the Consumer Financial Protection Bureau implements its updated Qualified Mortgage general definition.
Dealmaker: Institutional Property Advisors Brokers $68M in Property Sales
Institutional Property Advisors, Calabasas, Calif., closed retail and multifamily transactions totaling $68.4 million.
Lisa Springer, of STRATMOR Group: Relieving Workforce Burnout Through Technology
Lisa Springer is a senior partner and CEO of STRATMOR Group, Greenwood Village, Colo., a data-driven mortgage advisory firm. She provides direction and leadership to achieve the firm’s strategic goals.
Rick Triola: Proven a 2020 Best-Practice, RON Poised for Standard Operating Procedure in Mortgage Closing
For all intents and purposes, RON has truly been a global solution, and given the renewed effort at the federal level for nationwide RON authorization, the shift may happen sooner rather than later for any remaining nay-sayers.