While the falling home loan rates mean a booming business for the mortgage industry and a sign the housing market may help the U.S. economy avoid a true recession, it could also pose a challenge for those trying to process the influx of applications and requests. The digital mortgage servicing journey must focus on streamlining the process through technology and data-enabled solutions.

Nearly all companies have engaged in some form of business continuity planning. Generally, this exercise centers around developing contingency plans for maintaining normal operations in the face of a natural disaster or IT outage.

ATTOM Data Solutions, Irvine, Calif., reported property taxes levied on more than 86 million single-family homes in 2019 totaled $306.4 billion, up 1 percent from $304.6 billion in 2018—the smallest increase in three years.

In this ongoing article series, we report on mortgage and credit union vendor marketplace events and trends, and we then share our viewpoints. The theme for today’s article is vendor innovations that are driving speed, quality and cost saves – a select few vendors that really don’t look much like their contemporaries.

Institutional Property Advisors, a division of Marcus & Millichap, sold South Hills Apartments, an 85-unit apartment property in West Covina, Calif. The $31.95 million sales price equates to $375,882 per unit.

Mortgage credit availability decreased in March to its lowest level since June 2015, according to the Mortgage Bankers Association’s monthly Mortgage Credit Availability Index.

Appraisal Logistics, Annapolis, Md., launched Property Vision, an appraisal inspection tool to provide appraisers with consumer-provided photographic data.