The St. Petersburg, Fla.-based company waited until today’s Mardi Gras celebration to announce its presence in Louisiana, which is the 39th state where it is selling its flood insurance policies. Neptune Flood added that its policies meets the requirements to be accepted by all banks and has optional enhancements to the standard National Flood Insurance Program (NFIP) policy, including coverage for temporary living expenses, unattached structures and pool repair and refill.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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