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Digital mortgage automation solution provider Floify launched verification of income (VOI) and verification of employment (VOE) waterfall technology that aims to save lenders and mortgage brokers time and reduce costs during the loan origination process. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —
Solutions within Floify Lender Edition allow lenders to improve recruitment and retention of top-producing loanofficers and to navigate regulatory landscapes, according to the company’s website. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —
The platform allows loanofficers to become “mobile originators,” using their smartphones to view applications, pull credit reports and oversee all aspects of the loan process while connecting in real-time to their LOS.
In 2013, Thuan Nguyen was working out of his chaotic office in the heart of Silicon Valley. At that point, Loan Factory had about 200 loans and just 13 employees. The office was like a market,” Nguyen recalled. “It And it’s because of the software, because of the technology. They hustled, too.
Sarah Wheeler: In the past you said that technology isn’t a differentiator, it’s just an equalizer. Rich Weidel: Yes, and even more now that we’re seeing in this down cycle which technologies provide value and which are just an expense. It wasn’t that long ago that technology was going to change everything.
By July 2013, things were going so well that Godin and his wife purchased a lakefront mansion in Winnetka, Illinois, for nearly $13 million , a record for the posh Chicago suburb. The lender originated $10 billion in mortgages in 2013, $5 billion in 2014, $3 billion in 2015 and just $2 billion in 2016 before shutting down altogether in 2017.
Hayden, who will serve on the GSE’s committees for operations and technology, as well as the committee on risk, started his career as a loanofficer and loan purchaser. He was also vice chairman of Residential Mortgage Services Holdings from 2013 to 2021. The post Freddie Mac posts $12.1B
Ishbia, who started running his father’s mortgage firm in 2013 and has since grown it into the country’s No. Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loanofficers to its wholesale channel, whose market share currently stands at around 20%.
For example, within these firms, there are occupations such as loanofficers, loan interviewers, title-related occupations, and loan counselors that could apply to both mortgage and non-mortgage lending.
Today, while there still remains some stickiness to the QC revision process, a recent survey completed by The STRATMOR Group commissioned by appraisal management technology company Reggora, indicates 25% of appraisal reports require some form of revision. Excerpts: Completed in 2013, the 50,738-square-foot compound has six bedrooms, 8.5
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