According to the Trevose, Pa.-based company, the best uses of AI and machine learning technologies within the mortgage industry are centered in data and document processing. The white paper details how to use Capture 2.0 technologies–also known as "automatic identification and data capture" and "intelligent capture"–to leverage machine learning tools for affirming the total quality of loan data as it is being collected from the borrower while saving the company time and money in data entry.Lender reports a 62-basis-point reduction in loan-level pricing adjustments for qualifying transactions and removes an 80% LTV restriction as alternative credit scoring gains traction
CrossCountry Mortgage is reporting an estimated $2,500 in average borrower savings from its adoption of VantageScore 4.0, adding to a growing body of lender-reported results showing how competition between credit scoring models is translating into lower loan costs.The Clevel...
After years of chasing production numbers, one mortgage sales veteran learned that closing deals means little if you lose the trust of the people behind them
"Listen, your credit is crap. If you don't want the deal, move on."I said that to a borrower once. Word for word. The part that bothers me now isn't just what I said. It's that I didn't think about him again. He walked out, and I went right back to work.Early in my career, I...
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