“iLAD gives industry partners the ability to seamlessly exchange loan application data and is another way MISMO is delivering for the industry by digitizing processes, driving down costs and finding better ways to serve consumers,” said Rick Hill, executive vice president of MISMO and MBA vice president of industry technology. “The input provided during the previous 60-day comment period were instrumental in creating this new and improved version. We encourage participants to review the updates and provide us with any feedback.”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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