Robots Coming for Your Job? Why Automated Underwriting is Good

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Posted To: MND NewsWire

Loan applications are increasingly submitted and approved via a cell phone and Fannie Mae, and Freddie Mac constantly refer in press releases to their respective automated systems. Therefore, it is startling to learn that, on the front lines of lending, underwriting remains far from what a jockey friend used to call a “push-button pony.” Eric Connors, Executive, CoreLogic Mortgage and Credit Analytics, writes in the company’s Insights blog that 2017 was a good year for innovations at the front end or point of sale (POS) of mortgage lending. But those improvements also serve to highlight “the ongoing disconnect between the digital consumer experience and the cobbled together, often manual underwriting processes. ” Connors says many underwriters are still analyzing and calculating a borrower…(read more)

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