Black Knight has acquired HeavyWater, a developer of artificial intelligence and machine learning technology for the mortgage industry, and plans to incorporate the startup's borrower data verification and other automation capabilities into its existing product suite.
A new integration between Blend and Ellie Mae seeks to improve the use and accessibility of electronic mortgage documents, the latest in an ongoing industry effort to create a more simplified and consistent borrower experience.
Amber Baldet is exiting JPMorgan Chase to start her own venture, and another female executive is taking charge of the blockchain effort. BofA makes major progress on digital mortgages and gets gun-shy after Parkland. Plus, GM’s one-sentence dress code.
Applications can now be made on the bank's app or website, but closings will still be in person. With this move, BofA joins Quicken Loans, Lenda, SoFi and others offering a mostly digital mortgage. The trend is sure to continue.
A BankThink argues that Treasury's GSE cash infusions are just the return of stolen money; MUFG wants its Union Bank to be one of the nation's 10 largest; fintech promises a 30-minute mortgage; and more.