Leo Loomie, SVP, Client Development at Digital Risk, an Mphasis company was recently featured in a BanklessTimes.com article, “Compliance a crucial aspect of real estate lending technology” talking about the non-negotiable compliance challenges in the Lending Technology domain.
Leo Loomie, SVP, Client Services at Digital Risk, an Mphasis company was recently quoted in a MortgageLoan.com article, “Is a new housing bubble developing? Experts say no”.
Leo Loomie, SVP, Client Development at Digital Risk, an Mphasis company recently appeared on The Jon Sanchez Show talking about loosening mortgage lending requirements.
Reflecting on the current market, Leo asserts that affordability is still pretty solid, but inventory is a much bigger issue. With the cost of renting still high, it makes total sense to buy a home right now. Advising millennials, Leo says “Credit standards are actually loosening up a little bit, there are some great low down payment programs out there that younger buyers are not even aware of,” Leo encourages young home buyers to educate themselves on how the lending process works and the loan options available to manage debt responsibly. Underlining lending requirements, Leo goes on to say “Lenders are reducing their overlays, bad loans have been swept out of system, repurchase rates are at all-time historical lows right now and with the credit box tightened too far, there is sustainable room to loosen up the credit box.” With Digital Risk’s experience of handling numerous loans, Leo thinks Credit Quality is really strong right now.
Leo also reflected on the prominence of Digital Mortgages and how everything can be done on a smartphone now. Consumers have access to Loan Officers 24/7 if they need assistance and the advent of Artificial Intelligence has made great advances to the mortgage industry.
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Due diligence– a term used for a variety of concepts involving investigation of a loan prior to signing a contract, or an act with a certain ‘standard of care’. To ensure high standards of these standards of care, here are five tools that every service provider doing due diligence should be using:
Jeff Taylor, Co-Founder and Managing Director at Digital Risk, LLC was recently quoted in Washington Post’s latest article titled “Many lenders are loosening requirements for prospective home buyers” talking about loosening mortgage requirements.
Digital Risk LLC, an Mphasis company, a leading end to end originations, risk, compliance, and technology services company providing differentiated solutions to the mortgage, consumer lending, and other regulated industries, today announced that it has been recognized as a Major Contender by Everest Group, a consulting and research firm focused on strategic IT, business services and sourcing, in its report titled: ‘Mortgage BPO – Service Provider Landscape with Services PEAK MatrixTM’.
Leo Loomie, SVP, Client Services at Digital Risk, LLC recently appeared on the Financial Quarterback Radio Show talking about Digital Mortgages and the sudden down swing in the market last week. Leo sees the economy being fundamentally strong and with wages being up and interest rates relatively low, it’s a good time to invest says Leo.
Jeffrey Taylor appeared on Fox Business Network with host Trish Regan, discussing the financial sectors opportunity to invest more in technology for mortgages, credit cards and auto loans to improve consumer lending. Overall, the economy still remains incredibly strong and swings in the market only lead to great buying opportunities.
Citi’s recent collaboration with Digital Risk for its digital mortgage platform, LoanFx has been covered in print by the prestigious MReport Magazine.
Digital Risk’s LoanFx is a fully integrated Digital Mortgage Front End platform, powered by a comprehensive technology suite that provides operational scale, in-depth mortgage domain expertise, utilizing enterprise grade data security and compliance.
Jeffrey Taylor appeared on Fox Business Network with host Cheryl Casone discussing how tax reform could impact the housing industry. Jeff provides his views discussing how recent housing reform will affect certain states locally, while nationally we still expect a 6% increase in property values YoY nationwide. Still, only time will tell, says Jeff.