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Underwriting

ALTA adds seller impersonation coverage to its title policy

Fraud, LOAN PRODUCTS, Originations, Secondary markets, Underwriting /

The American Land Title Association has created two title insurance policy endorsements addressing the issue of seller-impersonation fraud. These endorsements will allow title insurers to cover any potential legal costs to correct public records if forged deeds or mortgages are recorded. The first, formally known as the ALTA 49 Endorsement, covers forgery in a new […]

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USDA invests in upgraded mortgage underwriting technology

LOAN PRODUCTS, Mortgage technology, Originations, Technology, Underwriting /

The U.S. Department of Agriculture has awarded a contract to technology services firm Phoenixteam as it seeks to upgrade its mortgage underwriting platform, whose capabilities have long lagged those of its peers.  The $49 million deal paves the way for the Arlington, Virginia-based firm to update the Guaranteed Underwriting System at USDA, which offers mortgage

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Income eligibility defects drive mortgage quality decline

ACES Quality Management, Appraisals, HWmember, Income verification, LendingLife, Mortgage, Origination, quality control, Underwriting /

Loan quality risks amid ongoing mortgage market challenges are continuing to emerge, according to the newest QC Industry Trends Report from ACES Quality Management, which tracks post-closing quality control data from its platform. The overall critical defect rate in the first quarter of 2025 climbed to 1.31%, ending two straight quarters of improvement and up

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UAD 3.6: How the mortgage industry should prepare

Appraisals, LOAN PRODUCTS, Mortgage technology, Originations, Secondary markets, Underwriting /

Following the financial crisis, the conforming secondary market created new rules for delivering data, starting with the Uniform Mortgage Data Program and the Uniform Collateral Data Portal. The UCDP rolled out in June 2011, soon followed by the Uniform Appraisal Dataset. This fall, Fannie Mae and Freddie Mac will begin testing the next big change:

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TidalWave’s Diane Yu on AI’s impact to mortgage jobs

AI Summit, AI Summit 2025, Artificial Intelligence, LendingLife, Mortgage, NEXA Mortgage, Technology, tidalwave, Underwriting /

The promise that artificial intelligence brings to the mortgage ecosystem through faster processes and reduced expenses is also accompanied by the potential threat it poses to human roles. While the next two years could see an acceleration of AI-related job losses, Diane Yu urges mortgage professionals to adopt a “mindset of abundance” when approaching the

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ICE Mortgage Technology pushes SDK sunset to end of 2026

LOAN PRODUCTS, Mortgage technology, Originations, Underwriting /

ICE Mortgage Technology is putting off the planned sunset of the Encompass SDK system, according to a memo provided by the company to National Mortgage News. SDK is shorthand for software development kit. It, along with certain other legacy systems, were supposed to go away on Oct. 31. ICE first announced the transition in September

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Future unveils Alpha, an in-house AI mortgage system

Artificial Intelligence, HWmember, Lenders, LendingLife, Loan Officer, Mortgage, Mortgage Broker, Origination, Technology, Underwriting /

A small fish in the pond of fintech-focused mortgage companies is trying to race to the front in the artificial intelligence arms race. And it’s not using a typical ChatGPT-style program either. Future Technologies CEO Blake Bianchi announced on Thursday that the company is launching a full-stack, proprietary AI system that promises to automate the

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FHA poised to outpace private mortgage insurers

FHA, Housing markets, Originations, PMI, Secondary markets, Underwriting /

The Federal Housing Association is likely to continue to take market share away from the private mortgage insurers for the foreseeable future, a Keefe, Bruyette & Woods report said. Insurance-in-force for all forms of mortgage insurance grew by 1.3% between the first and second quarters and by 5.5% year-over-year, the report from Bose George and

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Private MI market share gaps widen in Q2

Distressed, Housing markets, LOAN PRODUCTS, Mortgage insurance, Originations, Servicing, Underwriting /

Private mortgage insurers wrote just 2% more new business on a year-over-year basis in the second quarter, but market share shifts widened the spread between the six underwriters. The industry-wide market share gap was 1.7 percentage points for both the second quarter 2024 and first quarter of 2025, according to data from Keefe, Bruyette &

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