Mortgage transactions are marked by intricate processes that create significant challenges in tracking discrepancies, resulting in notable cash flow variances. Independent Mortgage Banks (IMBs) control over 80% of new mortgages, often selling them to large entities such as Fannie Mae. The layering of subservicing functions adds further complexity, impacting visibility into actual cash flows. Additionally, borrower behavior contributes to this challenge, with differences in loan status requiring normalization. A new tool, Narrow AI, promises to enhance processing capabilities, thereby providing clearer insights into financial data amidst this multi-layered environment.
The velocity and complexity of mortgage transactions create significant challenges in tracking discrepancies, leading to large cash flow variances that hinder effective oversight.
Independent Mortgage Banks dominate the mortgage market, managing over 80% of new loans, yet the accounting complexity often clouds visibility into actual cash flows.
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