“Cloudvirga’s commitment to re-imagining and then automating the mortgage process to streamline compliance, reduce cost and improve the overall customer experience makes it a truly unique player in the mortgage technology space,” said Cloudvirga Executive Vice President of Technology James Vinci. “We’re excited to have an innovator like Daniel on the leadership team to help us continue to revolutionize the way lenders do business.”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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