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Artificial intelligence is beginning to play a positive role in the mortgage origination process from applications to verifications to valuations to closings and beyond, it is helping to speed processes and reduce the rate of error. fraud losses to grow by 32% each year moving forward, reaching $40 billion by 2027.
A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. Jacob is not alone in seeing the potential upside for crypto-mortgages and AI-enabled traditional loans.
In February 2019, we wrote an article predicting this seismic shift, detailing how mortgage lenders could and should prepare to not only survive the shift but thrive in the future digital age. They don’t think, “I’m going to fill out a digital mortgage application or I’m going online to do my mortgage application.”
The Underserved Mortgage Markets Coalition (UMMC), a coalition of 32 housing groups initially convened by the Lincoln Institute of Land Policy , published a report on Wednesday that recommended actions for the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. mortgage finance system. mortgage finance system.
Overall, they believe that Donald Trump and Kamala Harris — the presumptive nominee after President Joe Biden dropped out of the race — have the same correct diagnosis of the main issues affecting today’s housing market: high mortgage rates and a low supply of listings.
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