mortgage loan

Underwriting-by-Algorithm: How Long Till Computers Replace Human Loan Underwriters?

“Hello, Mortgage Loan Department?  Can I Please Speak to a Human Being?!?” “Big companies and start-ups are beginning to use learning software in higher-stakes decisions like medical diagnosis, crime prevention, hiring selections and loan approvals. The idea is that an A.I. turbocharger can be applied to all kinds of decisions, making them smarter, fairer and...
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“Good Lender Service,” Defined

“Top 10” Job Duties In their lifetime, the average home owner may deal with 4 or 5 lenders (perhaps a few more these days, given serial refinancing at ever-lower rates). By contrast, a busy, experienced Realtor can easily deal with 15-20 lenders in a year, on both sides of deals (that is, as both a...
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Wall Street – Washington Revolving Door: Spinnning Faster Than Ever

I Don’t Think It’s Got Anything to Do With “Learning” What is the most dismaying thing about “Some Bankers Never Learn,” Gretchen Morgenson’s article documenting mortgage bankers’ efforts to sabotage legislation (Dodd-Frank) aimed at cleaning up lending standards? It’s not the bankers disingenuously arguing that tighter standards will unfairly limit home ownership. It’s not the...
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