mortgage lending

·Dec. 13, 2016

Ally Bank Announces New Online Mortgage Offering

Ally Bank has expanded its banking products to include mortgages and will offer the loans through an online service called Ally Home; the online service offering seeks to meet heightened expectations and shifting market priorities for digital, tech-driven customer experiences; with Ally Home, borrowers will have the option to manage their communication through email and their documentation online through any device; the bank also says it has partnered with mortgage servicing specialist, LenderLive, to provide fast and efficient service. Source

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Fintech News Roundup USA

·Mar. 16, 2018

Banking Bill Passes Senate but Challenges Remain in the House

The Senate passed a banking bill meant to roll back some of the financial regulations imposed after the crisis, but its fate is uncertain in the House; Republicans in the House want a further rollback of regulations; the bill is intended to help smaller banks avoid burdensome federal oversight and raises the definition of systemically important to $250bn from $50bn; the bill also makes adjustments to parts of the Volcker Rule and eases mortgage rules for smaller lenders. Source.

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News Roundup Real Estate USA

·Dec. 30, 2016

California Lender Providing Holistic Financial Planning with Mortgage Loans

California mortgage lender Opes Advisors is using proprietary software technology to help clients think more holistically about how buying a home fits into their financial plans; the company originates approximately $3 billion in mortgage loans per year and has built technology software that advises clients on comprehensive financial planning; also offering wealth management, the company provides comprehensive advisory services that are unique in the mortgage lending market. Source

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Fintech

·Jul. 16, 2020

Even in Uncertain Times, Identity is Key to Speed to Lead for Financial Service Marketers

Even before the pandemic, mortgage originations were trending downward. Originations are expected to decrease in 2020 to $1.1 trillion, down...

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News Roundup Online Lending

·Feb. 15, 2017

Fewer Lower Credit Quality Borrowers Applying for Mortgage Loans

Researchers from the Urban Institute's Housing Finance Policy Center have released data showing only 33% of lower credit quality applicants applying for a mortgage loan in comparison to 62% in 2006; standards for mortgage lending have increased since the 2008 financial crisis which researchers believe to be a factor causing fewer mortgage applications from the lower credit quality borrowers; the Urban Institute also cites other factors for fewer mortgage applications from the category including not having enough money for a down payment and less interest in homeownership. Source

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Fintech News Roundup USA

·Mar. 9, 2018

Amazon Hiring in New Mortgage Lending Division

According to HousingWire Amazon is exploring the mortgage lending business and is actively hiring in the new division; the company is already rumored to be looking into offering a checking product. Source

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Fintech News Roundup USA

·Apr. 29, 2019

Banks Use Fintech Partnerships to Make Home Loans More Efficient and Profitable

JPMorgan Chase, Wells Fargo and now Ally Bank have all outsourced a part of their home lending process to fintech...

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Fintech News Roundup Online Lending USA

·Mar. 7, 2017

eOriginal Selected to Manage Fannie Mae’s Electronic Vault

Leading digital transaction management firm eOriginal has been selected to manage electronic documentation processes for Fannie Mae; as a government sponsored enterprise (GSE) Fannie Mae works with lenders nationwide; the eOriginal services will help improve all of the GSE's associated mortgage loan transactions providing support for lenders and loan portfolio services for Fannie Mae; in comments on the partnership, Cindy McKissock, vice president of customer digital experience at Fannie Mae said: "We continually look for ways to help lenders who want to deliver an end-to-end digital mortgage experience. In addition to investing in new eVault infrastructure, we are also simplifying eMortgage adoption by transitioning to the MISMO SMART Doc™ Version 3.0 format in 2017. This will reduce complexity and allow lenders and technology solution providers to adopt eMortgage with greater ease." Source

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Europe Finance Fintech News Roundup

·Dec. 13, 2016

FCA Launches Mortgage Market Study on Competition

The Financial Conduct Authority (FCA) has launched a study analyzing the UK's mortgage industry; study will focus on the industry's tools for consumers and the partnerships among mortgage lenders; the FCA will specifically seek to identify ways to better utilize technological solutions within the industry; the FCA will be obtaining information from a range of market participants and plans to release the results of the study in an interim report in 2017 followed by a comment period and final report in 2018. Source

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Fintech USA

·Jun. 2, 2020