Lunch & Learn: Are appraisals the next big opportunity in mortgage fulfillment?

This Lunch & Learn for mortgage lenders will explore the evolution of the appraisal process as well as opportunities for innovation.

Rohit Chopra pleads the fifth on QM rule

Consumer Financial Protection Bureau Director Rohit Chopra, in his first report to Congress, answered for decisions made by his predecessor, and provided some indication of his priorities going forward.

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner. 

Which core segments of brokerage make the most money

Today’s HousingWire Daily is a RealTrending crossover episode. It features Tracey Velt, editorial director at HW Media Company RealTrends, who interviews Chris Kelly and Christian Wallace.

FintechMortgage

Tim Mayopoulos on the limits of GSE innovation

Former CEO of Fannie Mae explains why just adopting mortgage technology isn't enough

Housing Market Crash image

Investing in technology is not the be-all end-all when it comes to efficiency in mortgage origination. Lenders who adopt technology but don’t enforce discipline within their organization won’t see the efficiency savings technology promises. That’s according to Tim Mayopoulos, president of publicly traded Blend, which provides digital tools for some of the biggest mortgage lenders and debuted on the New York Stock Exchange in July at a $4.6 billion valuation.

Being able to leverage technology sensibly could especially become a key differentiating factor for lenders as competition for waning margins intensifies. Lenders will have “no choice” but to adopt technology, he said, or face falling behind their competitors.

“They’ll either do that, or they’ll lose money, or they’ll have to sell their business to someone who is willing to achieve those efficiencies.”

Mayopoulos noted that despite the advances in mortgage tech, the cost of origination has remained stubbornly high. Still, much has changed since the post-recession days at Fannie Mae when “cracking open” any one of millions of delinquent loans meant sifting through hundreds of pages of loan files, Mayopoulos said.

The former CEO of Fannie Mae said that at that time, he was under the impression the conservatorship arrangement was a “temporary timeout.” Thirteen years later, few expect the federal government to relinquish its control over the two mortgage giants.

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