A new white paper from BlackWolf Advisory Group says adoption of artificial intelligence in mortgage servicing is accelerating as firms seek to reduce costs, improve compliance and automate routine tasks. While the paper says servicers are ready and actively adopting AI, regulatory scrutiny and legacy technology systems remain as major barriers. The paper, titled “Mortgage…
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Housing starts increased in April compared with a year ago, but a deeper dive into the data reveals that this uptick was driven by a noisier boost in multifamily development activity, while single-family starts declined. According to the U.S. Census Bureau’s new residential construction data released on Thursday, housing starts, on a seasonally adjusted basis,…
A new real estate brokerage aims to eliminate traditional listing agents and listing fees altogether — a model its founder says could challenge decades-old assumptions about agent compensation. Showings announced it will officially launch May 22 in New York City, Atlanta, Chicago and Orlando. The company describes itself as the first nationwide real estate brokerage…
Rocket Mortgage and Rocket Pro announced Thursday that they have begun using VantageScore 4.0 alongside Classic FICO scores in the mortgage qualification process, a move the company said is aimed at expanding access to home financing. Rocket’s crosstown rival, United Wholesale Mortgage (UWM) began allowing its brokers to access both FICO and VantageScore credit scoring models for conventional loans…