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Historically, low-interest rates have been one of the most critical developments in the mortgage sector. The average interest rate on a 30-year fixed-rate mortgage in the US as of September 2021 was 2.88%. The climate of low-interest rates has led to an increase in mortgage refinancing activity. Recent years have seen an increase in home prices, which may be attributed to low mortgage rates, a shortage of available property, and strong consumer demand. In August…

The mortgage underwriting industry has been undergoing a significant transformation in recent years. With the advent of technology and the increasing use of digital tools, the process of underwriting a mortgage has become faster and more efficient. According to recent studies, the average time it takes to support a mortgage has fallen from 40 days to as low as 10 days.  Despite these advances, the mortgage underwriting industry continues to face several challenges. One of…