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How Technology is Shaping the Industry

As the technology conversation in the mortgage industry heats up, many companies are attempting to meet industry demands and adopt streamlined industry processes. Today’s companies are driven by creativity and innovation and are fostered by client success. MReport spoke to James Vinci, VP and Chief Technology Officer at Equator, about what mortgage professionals can learn from other industries and what technology trends are having the most impact today.

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Adapting to Change

Mat Ishbia, President and CEO of United Wholesale Mortgage, spoke with MReport on how mortgage lenders and brokers can adapt to the changing climate. According to Ishbia, the industry is not in the same place it was just five years ago, and drastic changes are sure to continue into the coming years. How has wholesale mortgages changed, and what can we expect in the future?

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Migration Trends Show Houston as Top City

Houston, Chicago, and San Antonio are ranked as the top domestic markets for incoming movers. Its job opportunities and diverse industries keeps Houston at the top of the list for the eighth year in a row. Data trends also list the other top 10 cities movers are headed to.

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Taking Down Veteran Homelessness

Around 40,000 American veterans are homeless, and the country is starting to take notice. Lawmakers are crafting bills to spur change from the ground up, while organizations across the nation are hosting events to do their part. The Five Star Institute’s Military Heroes Keys for Life event is one such event.

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Military Family will Receive Free Home From Meritage Homes

Meritage Homes has partnered with Operation Homefront to continue providing mortgage-free, energy-efficient homes to military families. The companies will work with the Homes on the Homefront program to provide a new home in Dallas, Texas. This is the fifth year the two companies will be working together, having helped 600 families since 2012.

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Asurity Technologies Announces Integrated Compliance Platform

Asurity Technologies, an enterprise formed to provide the financial services industry with RegTech solutions, announced its formation as an entity bringing together Treliant Solutions, LLC, Risk Management Solutions, Inc., and Mortgage Resources Group, LLC into an integrated compliance platform. According to Asurity, this platform will allow lenders to establish compliance, proactively manage a fair lending and redlining risk, and submit for both HDMA and CRA.

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Millennials: Want to Buy, Forced to Rent

The rate of homeowners in the U.S. has reached a historic low. Many question if the largest living generation, millennials, will purchase homes at similar rates to previous generations. Apartment List’s annual renter survey included input from 24,000 millennials, which they analyzed to better understand millennial homeownership plans.

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Mortgage Rates Down, Loan Applications Up

As previously predicted, mortgage rates reacted to the recent drop in the Treasury yield, falling this week to a 2017 low. However, these low rates may soon bounce back, with 30 percent of mortgage professionals polled predicting that next week will see a rise in rates. For now, the industry is experiencing an increase in loan applications as applicants move to take advantage of the favorable market.

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FHFA Issues Request for Input Over Mortgage English Proficiency

The Federal Housing Finance Agency (FHFA) is looking to the public for input regarding Limited English Proficiency (LEP) in the mortgage lifecycle. LEF borrowers currently face challenges applying for mortgages because they risk not understanding or relying too much on a source that could mislead them. FHFA looks to better understand the experience LEP borrowers have in order to improve support from the mortgage industry.

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