While credit reports continue to provide an indication of credit history and past financial behaviors, reviewing various forms of differentiated data sets, such as telecommunications (telco), pay TV and utilities insights, can help provide greater visibility into a borrower’s financial profile and increase opportunities for homeownership for more than 191 million American consumers

If mortgage servicers ever needed an argument to not hold back on technology investments, they need look no further than the recent fiascos in the airline industry.

Creating the most effective risk assessments involves a combination of research, analysis, experience and collaboration. Monica Bolin is a risk management expert with Ncontracts and former chief risk officer with more than three decades of experience in the banking industry.

Given the downturn in mortgage volume and the exploding cost to originate, Fannie Mae’s announcement comes at a time when QC departments may be much leaner than they were the year before. However, lenders can ill afford to ignore these changes, and compliance may mean investing in automation despite declining profitability.

I am a big fan of metaphors, and it is no exaggeration to say the mortgage industry is currently flying under the perfect storm with no sunshine or improved conditions in sight.

Taking lessons from literature and history, the continuation of 30-years of banking business and operating models are rapidly expiring. Pierced by a permanent transformation to data-driven intelligence, recent systemic failures, and technological progressions bankers need to accept that the era of apps mindsets has ended—data-as-a-product (#DaaP) solves many current and future requirements.