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UWM cuts out title insurer with updated TRAC+ program, rolls out 0% down purchase initiative

Housing Wire

UWM’s TRAC+ announcement comes as the federal government pushes title insurance alternatives designed to save consumers money. the company also announced ChatUWM, an AI-powered search engine that provides instant responses to clients, including guidelines, matrices, lender tools, and technology. 0% down During UWM Live!

Insurance 476
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CFPB turns rulemaking eye toward AI use in automated home appraisals

Housing Wire

AI technology has demonstrated that it is not immune to biases that can impact its output, and the importance of that fact grows significantly when it is applied to something as important as an appraisal, they said. Beyond the CFPB, other agencies involved with drafting the final rule include the Federal Deposit Insurance Corp.

Appraisal 385
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Former Fannie Mae chief named as CEO of Silicon Valley Bank N.A.

Housing Wire

The Federal Deposit Insurance Corporation (FDIC) has named former Fannie Mae CEO and Blend president Tim Mayopoulos as CEO of Silicon Valley Bank N.A. , Treasury and introducing new technologies to the housing finance system. venture-backed technology and healthcare companies.

Insurance 397
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The Week Ahead: HUD Pushes to Further Innovate Housing

Appraisal Buzz

HUD’s “Innovative Housing Showcase Educational Sessions will feature individual breakouts on offsite construction, building codes, manufactured housing, decarbonization, zoning, public and multifamily housing, resilience, and finance. on the National Mall, to raise awareness of innovative and affordable housing designs and technologies.

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Federal agencies seek input on proposed AVM credibility, integrity rule

Housing Wire

Six federal agencies have requested comment from the public on a newly-proposed rule that is designed to “ensure the credibility and integrity of models used in real estate valuations.” And the design and development of the models and algorithms can reflect the biases and blind spots of the developers.”

Valuation 418
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Mortgage AI firm Candor conducts layoffs

Housing Wire

Candor Technology Inc. , The firm’s automated underwriting tech is designed to augment human underwriters’ capabilities, allowing underwriters to handle more loans. According to the firm, clients of Candor shave about 14 to 19 days from cycle time, as the technology eliminates queuing.

Mortgage 370
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Why it’s time for the housing industry to get serious about climate risk

Housing Wire

And yes, this certainly has had an impact on insurance companies from coast to coast, as we’ve seen insurers retreat en masse from states such as California , Florida , and Texas , which have all seen record losses in recent years from wildfires, earthquakes, hurricanes, severe winter storms, sinkholes, and more.

Insurance 397