Is an Algorithm Less Racist Than a Loan Officer?
Digital mortgage platforms have the potential to reduce discrimination. But automated systems provide rich opportunities to perpetuate bias, too.
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U.S Mortgage Rates Hold Steady thanks to the Dovish FED
Mortgage rates were mixed in the week ending 17th September. Following a tumble to a new record low, 30-year fixed rose by 1 basis point to 2.87%. In the week prior, the 30-year fixed had fallen by 7 basis points to 2.86%. Compared to this time last year, 30-year fixed rates were down by 86 basis points.
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Title insurance premiums surging during COVID-19 pandemic
The title insurance industry saw a surge in premium volume in the second quarter of 2020, according to the American Land Title Association's latest Market Share Analysis. It's no secret that lending volume is up in 2020. In fact, the latest Fannie Mae forecast says mortgage lending will hit an all-time high of $3.9 trillion this year, largely due to record volumes of refinancings.
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Linda Lacewell: New York's no-nonsense reformer
The aim is to ensure the state's financial institutions get their cyber risk management practices in order. And the DFS has already been chasing down wrongdoers.
In July, it filed charges against First American Title Insurance Company for exposing hundreds of millions of documents containing sensitive personal information including bank account numbers, mortgage and tax records.
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Texas Court's Reversal Offers Encouraging Precedent for Future Trade Secret Litigation
In March 2018, a San Antonio jury unjustifiably awarded HouseCanary, a Silicon Valley start-up specializing in home valuation technologies, a preposterous $706 million against Amrock, a title insurance and property valuation provider formerly known as Title Source, for alleged proprietary misappropriation. The total award grew to over $740 million after the court stacked on interest and attorney's fees.
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If lumber prices 'don't come down, you will see a slowdown in housing': NAHB CEO
Homebuilder sentiment is at an all-time high, as city-dwellers seek out suburban homes during the coronavirus pandemic. But experts warn that an overcorrection in the lumber market could spell trouble for homebuilders and homebuyers alike.
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Realogy's RON mortgage closings triple over first half of 2020
From Ginnie Mae to Black Knight, industry players across the spectrum augmented their e-note capabilities in the past months, giving the product more ubiquity. Currently, 37 states approved remote online notarization and the outstanding 13 offer hybrid options.
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