“Promontory MortgagePath’s continued growth is directly linked to our ability to help community banks resolve challenges in a way that makes sense for their business objectives and regulatory expectations,” said Eugene Ludwig, Promontory MortgagePath’s founder and chief executive officer. “Sue’s experience in working with banks and their state associations makes her uniquely situated to understand and help them responsibly fulfill their own growth objectives.”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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