Radian’s Jill Cadwell on automated decision engines

This week, HousingWire’s HW+ Managing Editor Brena Nath interviews Jill Cadwell, senior vice president of settlement services operations at Radian. In this sponsored episode, Cadwell discusses automated decision engines in the mortgage industry and the specific pain points lenders are still facing when it comes to closing.

Here is a small preview of the interview, which has been lightly edited for length and clarity:

Brena Nath: Our industry navigated a lot of complex obstacles during this pandemic period, especially when it came to closing. It seems like we gained a lot of traction in some areas, but what specific pain points are lenders still facing when it comes to closing?

Jill Cadwell: Well, certainly the pandemic offered a lot of mountains to climb very quickly. We were scaling mountains and finding different ways to solution for some of the issues presented to our industry. One of these issues was that you couldn’t meet with people face to face, but yet, we’re still dealing with their ultimate line of credit, which is monetary. So, it became essential for all states to still transact both refis and purchases, which created many obstacles for the lenders…I think the detractors for the lenders are that although we had 29 states that offer RON-type closings, whether, through legislation or emergency legislation through the pandemic, they are all different. And so, for a lender and a technology platform to solution for all of them is very problematic. So, it really is essential that our federal government adopts the SECURE Notarization Act ,as it will provide a base in which we can set up closings and lenders can solution for every state consistently, because it really is impossible to do it by each individual state requirements.

The Housing News podcast explores the most important topics happening in mortgage, real estate, and fintech. Each week a new mortgage or real estate executive joins the show to add perspective to the top stories crossing HousingWire’s news desk. Hosted by Sarah Wheeler and produced by Alcynna Lloyd.