Truitt most recently served as CFO of Flagstar Bank’s Mortgage Division, where he oversaw financial statement preparation, budgeting, forecasting, regulatory reporting, risk management and investor relations for a network of 88 retail locations, and a wholesale network of approximately 2,000 third-party mortgage originators. He also oversaw recordkeeping for $204 billion in home loans servicing and subservicing.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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