Exploring recent trends in digital originations for mortgage lenders, highlighting the role of fintech and AI in reshaping the lending process.
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Systematic mortgage fraud similar to the kind that led to the 2008 financial crisis has reemerged on Wall Street, according to a whistleblower complaint submitted to the SEC. So reports ProPublica.
Wells Fargo, Deutsche Bank and other big lenders have changed data for commercial property mortgages “without justification” so that borrowers would qualify for loans when they typically would not, according to the whistleblower.
The complaint was filed last year by John Flynn, who runs CRE Loan Advisors and has advocated for reform of commercial mortgage-backed securities.
