This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Stone Point is no stranger to the real estate industry, as it also holds strategic investments in Lone Wolf Technologies , Homepoint , CoreLogic and Meridian. It’s not immediately clear “that next level” is; the company was rumored to have been pursuing a plan to go public in 2020 but it never materialized.
Prior to 2020, the mantra around the mortgage industry going back to 2016 was that launching a new “digital experience” was the equivalent to table stakes in poker. Not to be outmatched, the incumbent software providers each updated and launched their own POS to stave off the encroaching technology. Meanwhile, the industry scrambled.
A new annual report from CoreLogic shows multi-closing fraud risk held steady in 2020 after having decreased the past several years. According to the CoreLogic Multi-Close Alert Program (MCAP), 2020 is projected to have a similar level of findings as was seen in 2019. in 2020 when compared to 2019.
As the country embraces technology now more than ever, lenders and title companies have an opportunity to embrace the possibilities of mortgage technology to connect with consumers in new ways and grow their businesses. It’s a new time for our industry, with so much going virtual.”. No paper or printing is a huge cost saver.”.
Citadel Servicing Corporation (CSC) , one of the country’s largest non-QM lenders , is rebranding as Acra Lending (Acra). Then known as Citadel Servicing, the company was acquired by HPS Investment Partners, LLC in February 2020 for an undisclosed price. WFG reports its highest volume months ever during Q2 and Q3 of 2020.
Today, while the mortgage industry has the technology to support this, we’re still in the early stages of determining how it should be used. With the advances we’re seeing in Artificial Intelligence, Machine Learning and Robotic Process Automation, we have become experts at configuring our technology to meet the changing needs of lenders.
ICE Mortgage Technology will now deploy an “eVault” solution as part of its mortgage closing platform to ensure the secure storage of digital mortgages and notes, it announced late last week. The post ICE, DocMagic team up to offer closing technology appeared first on HousingWire. Digital mortgage platform DocMagic Inc.
HousingWire recently sat down with Joe Hallett, Fannie Mae’s Vice President – Digital Products Management, to discuss how Fannie Mae is leveraging technology to expand access to homeownership. HousingWire: What have been some of the key drivers behind the digital mortgage transformation?
AI and data-led fintech company Pagaya Technologies named Sanjiv Das as president. Das spent six years as CEO of Caliber Home Loans — a NewRez -owned residential mortgage lending company — until January 2022. The firm has been in the real estate business since 2020. We’re excited to welcome Sanjiv as President of Pagaya.
Benchmark Administration (IBA) , will take on a new role as president of ICE Mortgage Technology starting on March 1. ICE acquired Ellie Mae in 2020 from Thomas Bravo for $11 billion. “In ICE’s appointment of Bowler as incoming president ICE Mortgage Technology comes at a crucial time for the company.
When the coronavirus pandemic hit in 2020, banks were among the many institutions moving quickly to adapt to all the changes that came with it. Amin manages a technology budget of $4 billion – one-third of Chase’s overall $12 billion budget – and over 12,000 technologists globally. Another one would be home lending.
Floyd, who will assume the position in November 2020, brings more than 20 years of experience in the real estate industry to the role. Once he takes over as CEO, Floyd said he intends to use his role to help further the adoption of new technology in the title industry. and as president of SKLD Title Services.
SoFi co-founder Mike Cagney’s latest digital mortgage operation Figure Lending closed on a $100 million funding facility from JPMorgan Chase this week. The warehouse facility will allow the company, a subsidiary of Figure Technologies , to originate conventional loans as well as jumbo loans , the company said in a statement Wednesday.
The full extent of fraud in the mortgage industry may be impossible to fully quantify, but the 2020 True Cost of Fraud study by LexisNexis Risk Solutions estimated that the cost of fraud has risen 7.3% Now is the time for lenders to tighten their procedures not only on recruiting and hiring practices, but also lending operations.
What happens when borrowers can’t or won’t walk into a lending branch? HousingWire recently sat down with Insellerate CEO Josh Friend to discuss that very question and what strategies retail lenders should look to adopt from direct-to-consumer lending. Power 2020 U.S. Record low-interest rates have driven U.S.
Tomo, which was founded in 2020 by former Zillow executives Greg Schwartz and Carey Armstrong, has received a total of $130 million in funding to date. The companys tech-driven approach to lending is proving attractive to investors. Powered by OpenAI technology, the portal tailors listings by a users property specifications.
Intercontinental Exchange (ICE) Mortgage Technology reported operating income of $57 million in 2022, down from last year’s $397 million — a reflection of the headwinds the mortgage industry is facing. The mortgage technology division at ICE posted $249 million in total revenue in the fourth quarter, down 9.8%
As a premier provider of innovative, high-performance software, data and analytics for mortgage and home equity lending and servicing, Black Knight is transforming the housing finance industry. Black Knight is a proven mortgage industry leader in servicing technology. Originations.
We’ve experienced the important role technology can play in helping homeowners access the tools and solutions their mortgage servicer is offering. We’re using] our technology to help homeowners and servicers alike facilitate more convenient and more equitable access to loan products and closings.”. HousingWire: ??Stavvy
That has some producers of non-QM loans, which require specialized underwriting expertise, looking to technology, big data and the development of automated underwriting platforms as the solution for dealing with the anticipated surge in loan volume in the years ahead.
“The market remains underserved in the sense that the mortgage lending market has changed so quickly that everyone is still trying to keep up,” Stone said. Stone also received October Research’s “Leadership Award” in September 2020. Now, at WFG’s 10-year anniversary, this vision holds even more relevance.
In this session on servicing technology, you will discover: The benefits of adopting an AI-driven process to streamline and standardize data. To go back to the full HousingWire Annual 2020 on demand summit, go here. Panelist: John Heck, Senior Advisor of Lending Solutions, Capacity Jim Albertelli, CEO, Albertelli Law.
Home lending proptech Roostify is releasing the “first of many” APIs on its existing lending platform built to automate document validation and data extraction in the lending process. In 2020 alone, Roostify saw a 250% increase in the number of applications submitted through its system and processed just under 1.5M
HousingWire recently spoke with Mike Fierman, managing partner and co-CEO of Angel Oak, about the non-QM lending outlook for 2021 and how Angel Oak’s “originate to hold” model benefits originators. HW: How did your integrated model help you in 2020 – particularly after the pandemic and pause in the spring?
The home lending industry has a massive opportunity to digitalize to create efficiencies and to deliver a simpler end-to-end user experience hat would benefit both borrowers and servicers. Digitalization in the home lending industry does not always require companies to entirely invent new technology solutions.
Land Gorilla founder and CEO Sean Faries is relentless in his pursuit of technology innovations that drive efficiency while simultaneously reducing risk in construction and renovation lending. Faries believes technology should enhance digital experiences for all project stakeholders.
Last spring, the housing industry was forced to pivot its traditionally in-person processes and harness available technology resources amid the spread of COVID-19. Technology needs to support the business, not define how the business operates,” Crisenbery said. “We A great example is remote online notarization.
It was suspended in 2020 due to economic volatility caused by the COVID-19 pandemic, but it marked its return in February 2023 with a minimum-age eligibility reduction to 55. The potential for building on HomeSafe Second’s numbers also comes from broader trends in the home equity lending space, she said.
HousingWire: What role has the increase in technology played for both businesses and consumers in the real estate space? Vance Loiselle: In the 20th century, the primary technology innovations in real estate were the telephone and the MLS. This will result in a major shift in how people use their homes and where they want to live.
The blockchain revolution may soon be coming to mortgage lending. The Mike Cagney-led fintech lender Figure Technologies , most recently valued at $3.2 According to Inside Mortgage Finance, Homebridge was the 28th-largest mortgage originator in 2020, originating about $26.4 billion in mortgages.
Stavvy, a Boston-based fintech, announced Monday that it landed a $40 million Series A funding round led by Morningside Technology Ventures. Servicers must be powered by nimble technology to be heroes to borrowers, stalwarts to investors, and stewards of consumer protection to regulators. Presented by: Sagent LendingTechnologies.
Top mortgage lending software and analytics provider Black Knight is exploring a sale following takeover interest from several private equity firms, according to a report from Bloomberg. million in 2020. Black Knight said that in 2020 it recorded a $62.1 million, up 29% from the same period in 2020. Revenue reached $386.2
For many in the housing industry, the events of 2020 accelerated tech adoption. HousingWire sat down with Renata Sheyner, vice president of product at CreditXpert, to learn more about key technologies that lenders need to give more attention to. First, mortgage lending is highly volatile.
Garg explained that Better utilized its marketplace lending model that includes 32 different investors across the mortgage landscape from real estate investment trusts and insurance companies to hedge funds, major correspondent lenders and the government-sponsored enterprises Fannie Mae and Freddie Mac. ” How is it so fast?
As a result, 77% of counties included in the report have now been labeled as less affordable by ATTOM, up from 39% of counties in the fourth quarter of 2020. The data vendor also noted that in the third quarter of 2021 , 428 counties from the same data set were labeled as less affordable, up from 224 counties in the fourth quarter of 2020.
As lenders continue to adjust to a new normal, the pivotal role of technology has become increasingly clear in maximizing productivity and keeping lending pipelines flowing. HousingWire: How has COVID-19 impacted technology strategies for mortgage lenders? What are some examples of these strategies?
A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. What happens when borrowers have more control of the lending process? FormFree is launching a blockchain-based exchange for consumers to take control of the mortgage lending process.
Other investors included Rotor Capital , The Mortgage Collaborative Emerging Technology Fund , Prudence Holdings and existing investors including Anthemis Group , Route 66 Ventures , and Sovereign’s Capital. The capital raise follows a $5 million Series A funding round in June 2020. mortgage market. Presented by: Sutherland.
As demonstrated in the brilliant UWM Superbowl ad , Millennial homebuyers are looking to technology to match them with the right partners in life, including their mortgage. With smarter and faster data, a personalized service experience is key for the future of lending. #2 5 Technology becomes fintech. 1 Personalization.
Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. trillion in 2020 and then $4.4
Most recently, his leadership has been dedicated to the development of a technology that facilitated aid to small businesses accessing critical Paycheck Protection Program funding, allowing them to retain more than 1 million jobs. The post 2020 HW Tech Trendsetter: Samir Agarwal appeared first on HousingWire.
added mortgage lending under its umbrella by acquiring mortgage brokerage company Be My Neighbor on Monday. Publicly traded real estate software firm reAlpha Tech Corp. reAlpha agreed to pay Be My Neighbor an aggregate purchase price of up to $6 million. This consists of $1.5 million in cash paid on the closing date, $1.5
The average cost for a retail mortgage lender to originate a loan reached $11,600 in the third quarter of 2023, up 35% — or nearly $3,000 per loan — when compared to fourth-quarter 2020, a period of low interest rates and high sales volume, according to a study published Tuesday by Freddie Mac.
. “Despite interest rates trending downward in April across all mortgage products, the decreases did not seem to be enough to bring borrowers – particularly refi borrowers – back to the table,” says Black Knight Secondary Marketing Technologies President Scott Happ. “April saw the.
We organize all of the trending information in your field so you don't have to. Join 9,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content