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Underwriting

Rocktop’s Cade Thompson on inefficiencies in mortgage lending

Artificial Intelligence, HWmember, Mortgage, Mortgage and Housing Layoffs, quality control, Technology, Underwriting /

Fannie Mae‘s latest Mortgage Lender Sentiment Survey points to a growing trend of lenders that want to make the mortgage process and its various components as efficient as possible. In 2025, lenders ranked streamlined business processes, reduced costs and consumer-facing technology as their leading priorities. Every touch point in a mortgage’s life cycle — from […]

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Gen Z, millennials struggle with housing costs

Distressed, Housing affordability, Housing markets, Servicing, Underwriting /

Over 40% of millennial and Gen Z homeowners claim they struggle to afford their regular housing payments, a substantial number but less than the 70% who are saying the same about their rent, a Redfin survey found. In May, a survey conducted by Ipsos for the real estate company had over 4,000 homeowners and renter

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USDA is automating its loan application uploading

Housing Market, HWmember, Mortgage, Underwriting, USDA /

The U.S. Department of Agriculture (USDA) announced this week that it has awarded technology services firm Phoenixteam a $49 million contract to modernize its mortgage underwriting platform, the Guaranteed Underwriting System (GUS). The Arlington, V.A.-based company will overhaul GUS, which supports USDA’s guaranteed loan program for rural and farming communities. Phoenixteam said the updates will

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Underwriting errors push loan defects higher

Fraud, LOAN PRODUCTS, Originations, Underwriting /

Lagging tech adoption and credit underwriting issues were likely contributors to loan quality worsening from a recent record-low rate, according to Aces Quality Management.  The overall critical defect rate rose to 1.31% in the first quarter, shifting away from the fourth quarter’s historical low of 1.16%, the company’s latest report found. Defects rose in three

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ALTA adds seller impersonation coverage to its title policy

Fraud, LOAN PRODUCTS, Originations, Secondary markets, Underwriting /

The American Land Title Association has created two title insurance policy endorsements addressing the issue of seller-impersonation fraud. These endorsements will allow title insurers to cover any potential legal costs to correct public records if forged deeds or mortgages are recorded. The first, formally known as the ALTA 49 Endorsement, covers forgery in a new

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USDA invests in upgraded mortgage underwriting technology

LOAN PRODUCTS, Mortgage technology, Originations, Technology, Underwriting /

The U.S. Department of Agriculture has awarded a contract to technology services firm Phoenixteam as it seeks to upgrade its mortgage underwriting platform, whose capabilities have long lagged those of its peers.  The $49 million deal paves the way for the Arlington, Virginia-based firm to update the Guaranteed Underwriting System at USDA, which offers mortgage

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Income eligibility defects drive mortgage quality decline

ACES Quality Management, Appraisals, HWmember, Income verification, LendingLife, Mortgage, Origination, quality control, Underwriting /

Loan quality risks amid ongoing mortgage market challenges are continuing to emerge, according to the newest QC Industry Trends Report from ACES Quality Management, which tracks post-closing quality control data from its platform. The overall critical defect rate in the first quarter of 2025 climbed to 1.31%, ending two straight quarters of improvement and up

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UAD 3.6: How the mortgage industry should prepare

Appraisals, LOAN PRODUCTS, Mortgage technology, Originations, Secondary markets, Underwriting /

Following the financial crisis, the conforming secondary market created new rules for delivering data, starting with the Uniform Mortgage Data Program and the Uniform Collateral Data Portal. The UCDP rolled out in June 2011, soon followed by the Uniform Appraisal Dataset. This fall, Fannie Mae and Freddie Mac will begin testing the next big change:

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TidalWave’s Diane Yu on AI’s impact to mortgage jobs

AI Summit, AI Summit 2025, Artificial Intelligence, LendingLife, Mortgage, NEXA Mortgage, Technology, tidalwave, Underwriting /

The promise that artificial intelligence brings to the mortgage ecosystem through faster processes and reduced expenses is also accompanied by the potential threat it poses to human roles. While the next two years could see an acceleration of AI-related job losses, Diane Yu urges mortgage professionals to adopt a “mindset of abundance” when approaching the

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ICE Mortgage Technology pushes SDK sunset to end of 2026

LOAN PRODUCTS, Mortgage technology, Originations, Underwriting /

ICE Mortgage Technology is putting off the planned sunset of the Encompass SDK system, according to a memo provided by the company to National Mortgage News. SDK is shorthand for software development kit. It, along with certain other legacy systems, were supposed to go away on Oct. 31. ICE first announced the transition in September

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