“We are always looking for ways to make lenders’ jobs simpler and partnering with Calyx presented a great opportunity to share the benefits of FirstClose ONE,” said Tedd Smith, chief executive officer and co-founder of FirstClose. “We always enjoy working with other innovative companies that recognize the need to constantly be improving efficiencies and we are honored they chose us to help them accomplish that.”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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