“Because Cloudvirga technology touches every part of the mortgage workflow, from point of sale through closing, it is critical that we take compliance every bit as seriously as do our customers, so we are very excited to have Maria join our team,” said Cloudvirga CEO Michael Schreck. “Her deep understanding of the mortgage industry’s legal and regulatory complexities will ensure that Cloudvirga builds on our leadership position for years to come.”Seller/servicers using artificial intelligence in origination or servicing must have formal policies, oversight, and vendor controls in place
Fannie Mae’s artificial intelligence and machine-learning governance requirements take effect Thursday, Aug. 6, giving approved seller/servicers a final deadline to formalize how the technology is used across mortgage origination and servicing.The requirements apply when a s...
Pending sales fell to their lowest level since early April, but lower asking prices and reduced competition give originators more options to structure deals for qualified borrowers
Higher mortgage rates are thinning the purchase pipeline, even as lower asking prices and reduced competition give borrowers still in the market more leverage.Seasonally adjusted U.S. pending home sales totaled 322,739 during the four weeks ending July 26, their lowest level...
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