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Is technology the problem, not the solution, in the mortgage industry?

Housing Wire

The mortgage industry has long been promised a technological revolution to streamline workflows, reduce operational costs, and enhance efficiency. Yet, despite significant investments in new technologies, the cost to originate loans has dramatically increased. The human touch remains critical in mortgage lending.

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CFPB rule applies mortgage protections to clean energy loans

Housing Wire

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a final rule governing the Property Assessed Clean Energy ( PACE ) loan program. The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology.

Loans 396
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The Loan Store partners with Gateless for AI-powered mortgage underwriting

Housing Wire

Mortgage technology company Gateless is offering its flagship automated underwriting platform to a new lender. The Loan Store — a wholesale lender based in Arizona — will now use the Gateless Smart Underwrite platform, according to a recent announcement.

Loans 397
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Milestone Mortgage acquires Willow Home Loans with ‘goal to be No. 1’

Housing Wire

Federally registered broker and correspondent lender Milestone Mortgage Solutions has acquired Willow Home Loans and is looking to join the $1 billion origination club this year. “With this technology , we’re going to be able to flip the script. Willow will fold into Milestone as part of the deal. ”

Loans 370
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Better launches voice-based AI loan assistant

Housing Wire

Better Home & Finance, the parent company of digital lender Better.com , launched its voice-based artificial intelligence loan assistant on Thursday. ” The AI loan assistant, dubbed Betsy, was built through Tinman, the company’s proprietary loan origination platform, where information and facts on loan applications are stored.

Loans 435
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Will AI replace the loan officer?

Housing Wire

There have been countless press releases and news articles about how AI is changing the mortgage industry. The industry fears AI will ultimately replace everyone, from operations to loan officers. As a loan officer , I am not losing any sleep, and here is why you should not, either. The experience was terrible.

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Ocrolus debuts Inspect, a new AI-driven mortgage solution

Housing Wire

Mortgage tech firm Ocrolus has introduced Inspect, a new solution within its artificial intelligence -driven mortgage document automation technology, which the company said will improve efficiency and scalability in loan origination. Currently, Ocrolus supports more than 95% of mortgage document types.