Digital mortgages

Electronic notes did come in handy this year given the mortgage industry's need to operate remotely, but they also increase the government-sponsored enterprises' responsibility for monitoring the risk of multiple counterparties.

The government-sponsored enterprise’s seller/servicer guide is now integrated into the online portal. Freddie also improved the readability of loan-level reporting it provides, and has further changes in the works.

A survey conducted throughout the second quarter found knowledge gaps based on race and income.

From guidelines for remote appraisal alternatives to the ways that forbearance affects borrowers' ability to get new loans, here are five examples of mortgage requirements that have been in flux since the coronavirus outbreak in the United States.

Issuers approved for the program will receive written authority to use "digital collateral" for a limited number of securitizations.

Lenders and servicers' biggest pandemic challenges revolve around clarity for loan eligibility and understanding options for their borrowers once the forbearance period ends.

The other parts of the Day 1 Certainty program regarding income and asset verifications remain in effect.

Refinancing activity is surging, existing borrowers are inquiring about loan modifications, loan closings are being delayed by more complex credit checks — and banks are short on people to handle it all.

Not so long after Treasury bond yields experienced an unprecedented drop, the average 30-year mortgage rate rose, reflecting volatility related to the coronavirus as well as capacity issues on multiple levels.

Wealthfront will add third-party mortgages to its investing platform, while Varo Money says robo advice and mortgages are in its long-term plans.