Worrell has lived in the Wareham, Mass. area since 1994, and has more than 20 years of residential lending experience in southeastern Massachusetts. Most recently, Worrell was a senior loan officer with Citizens Bank. He has also served as a managing loan officer with Franklin American Mortgage Company and as a senior loan officer at Prospect Mortgage.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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