LIBOR Phase-out for Mortgage Lenders Just Got Closer

Sometimes it takes a nudge to make a deadline feel real. The mortgage industry got a reminder of the work ahead of it when Fannie Mae and Freddie Mac recently announced they’ll stop accepting adjustable-rate mortgages (ARM) tied to the London interbank offered rate (LIBOR) by the end of 2020. That’s a full year ahead […]

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The Upside of Credit Card Fraud

When it comes to using artificial intelligence (AI) for credit-card fraud management, the benefits are more than meets the eye. Yes, AI-powered detection systems spot fraud more quickly and help contain losses. But the systems also put a new spin on fraud for credit card providers: Real-time fraud detection helps inspire customer confidence and boost […]

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The Digital Future of Mortgage Servicing

Mortgage servicing has a consumer reputation few would envy. According to the Consumer Financial Protection Bureau (CFPB), more than 80% of mortgage-related complaints involve problems with mortgage servicers. Additionally, nearly 80% of borrowers opt for a different servicer when they refinance their loans or move. Consumer lock-in is the widely acknowledged reason for this state […]

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Riding the Wave of Mortgage Digitization

After surviving recent regulatory reforms, mortgage bankers and financial institutions are ready to broaden their emphasis beyond compliance. And not a moment too soon, because the next wave of digital change is moving from the front office to the back office, and players need to respond rapidly. Much of the talk around digitization focuses on […]

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The Seven Deadly Sins of Robotic Process Automation (Part 1 of a Series)

Author’s note: The use of robotic process automation (RPA) is gaining momentum in the financial services industry. The first installment of this four-part series focuses on the common pitfalls banks encounter when planning for and deploying software bots. The second looks at seven steps banks can take to automate efficiently and derive long-term value from […]

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