Digital mortgages

Michigan-based University Bancorp is paying $30 million for a 50.5% stake in a business Voxtur acquired for $101 million in 2022.

Rohit Chopra, the director of the Consumer Financial Protection Bureau, has cautioned banks, credit unions and fintechs about fair-lending violations that may stem from reliance on artificial intelligence. His comments threaten to discourage financial firms from using the technology to crunch nontraditional data about borrowers, experts say.

Button Finance intends to use the capital to develop its underwriting platform and increase hiring.

The regulation of cryptocurrencies gains momentum abroad while a number of hurdles must be cleared before lenders and banks can handle them at scale in the U.S.

The mortgage real estate investment trust has been a first-mover regarding innovations in the private securitized market, and others tend to follow its lead.

The expansion of borrower data collected in the new URLA upends an industry standard and lenders are experiencing some growing pains.

The transaction consisting of $24 million in securitized Ginnie pools followed a 265% jump in broader industry eNote registrations last year.

When the Uniform Residential Loan Application transition deadline hits on March 1, a data set within Fannie Mae’s Desktop Underwriter Program, which many lenders have used for a host of functions, will no longer be supported and unprepared lenders could later experience disruption.

Mortgage application fraud risk dropped drastically from 2019 with the spike in refinances, but the fallout from the coronavirus means next year could come with more risk, according to CoreLogic.