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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.”.
Mike Cagney’s Figure Technologies rolled out a wholesale lending platform that will give loan originators access to the company’s home equity line of credit (HELOC) offering. In terms of dollar volume, there was an estimated $251 billion in HELOC originations during all of 2022, up from $182 billion in 2021.
Stavvy , a fintech firm specializing in digital and remote collaboration for lending and real estate companies, acquired SigniaDocuments, a technology suite from Texas-based lender Evolve Mortgage Services. Founded in 2018, Stavvy works to increase efficiency and transparency in real estate and mortgage lending.
Mortgage lender Revolution Mortgage has partnered with Tavant, an AI-powered digital lending company, to integrate Tavant’s Touchless Lending product suite into Revolution Mortgage’s platform. The technology is designed to automate and streamline the underwriting and application processes, per the statement.
At the beginning of 2024, mortgage technology company LoanPASS was announced as a technology partner for reverse mortgage lender Smartfi Home Loans. The lender chose LoanPASS to provide its software-as-a-service (SaaS) product and pricing engine in its reverse lending operations. What does the future hold?
The housing industry has been working in overdrive over the last few years to shed the idea that its technology is antiquated and outdated. See below for the full list of HousingWire’s 2021 Tech Trendsetters, and click through for the profiles of each honoree. Chief Technology and Security Officer. EVP, Chief Technology Officer.
Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. billion valuation in a venture-backed funding round in 2021. JP Morgan Chase & Co.
Digital mortgage automation solution provider Floify launched a lending platform for mortgage brokers built on the foundation of the Floify point-of-sale (POS) platform. in an $87 million deal in 2021. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —
We believe this technology will significantly drive down our costs further, resulting in lowered rates and superior service for our customers,” Ryan said. Executives at Better reset the company amid a shrinking mortgage market, with its workforce declining 92% from 10,400 employees in 2021 to just 820 in 2023.
“Our Marketplace unites a multitude of industry-leading solutions with the MeridianLink One platform to deliver exceptional consumer experiences and streamline contemporary lending processes,” Megan Pulliam, SVP of MeridianLink Marketplace, said in a statement.
They were there, in the middle of everything, to make sure that brand loyalty would last well beyond 2021. This foundational first class of 2021 Marketing Leaders includes the most creative and influential marketing minds of the housing industry. Candor Technology. Planet Home Lending. ICE Mortgage Technology.
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?
But there are definitely a few main things to looks out for — many of which are carrying over from a turbulent 2020 and early 2021 — when it comes to the upcoming landscape for the rest of 2021: Lack of inventory Fluctuating interest rates Increased adoption of technology. Inventory issues.
The 2021 Women of Influence winners represent 100 of the most influential women in leadership in the housing economy. More than just breaking records in the housing finance space, the HousingWire 2021 Women of Influence are shattering glass ceilings and leaving a legacy for years to come. Aslan Home Lending Corporation.
The FHFA released its 2021 Scorecard for Fannie Mae , Freddie Mac and Common Securitization Solutions on Tuesday, adding new resolution planning requirements for the GSEs. The rest of the 2021 Scorecard aligns the 2019 Strategic Plan with the Enterprises’ tactical priorities and operations. Non-QM lending is poised for growth in 2021.
Director, Cloud and Data Technology. President of Residential Servicing and Correspondent Lending. Canopy Financial Technology Partners, LLC. Director, Technology Alliances. Aslan Home Lending. ICE Mortgage Technology. Senior Manager of Customer Engagement and Marketing Technology. Bindu Kaul.
Miami-based fintech provider LoanPASS has integrated with ICE Mortgage Technology, a division of global data, technology, and market infrastructure provider Intercontinental Exchange, Inc. Benchmark Administration (IBA), will step in as president of ICE Mortgage Technology starting March 1.
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. Through July 2021, AOMS [Angel Oak Mortgage Solutions] has originated $1.52
And thanks to their dedication, hard work and drive, the housing sector is more prepared than ever before to successfully navigate 2021 and beyond. See below for HousingWire’s 2021 list of Rising Stars, and click through for full profiles on each winner that detail their impressive accomplishments. ICE Mortgage Technology.
Nominations for HousingWire’s Tech100 award are now open through next Friday, December 17, 2021. A 2021 Tech100 Mortgage honoree, Stavvy is helping organizations navigate complex financial and legal transactions easily and safely, allowing servicers to put customer experience at the forefront during tough times like a global pandemic. “In
Seventy million dollars in seed funding is a colossal investment for an unproven tech startup, even one that promises to fully disrupt a relatively low-margin, traditional industry like mortgage lending. Tomo has a big opportunity – Freddie Mac expects purchase originations in 2021 and 2022 to approach about $3.6 It’s early.
HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief innovation officer at Legend Lending. In January of 2021 I was promoted to chief operating officer of Mid America Mortgage, Inc. Throughout 2021 I grew our operations team to achieve 10,500 units funded, which was a 300% increase in originations year over year.
HousingWire reached out to 2019 HW Insiders honoree Jemma Pachiano , chief inspiration officer at Legend Lending. In January of 2021 I was promoted to chief operating officer of Mid America Mortgage, Inc. Throughout 2021 I grew our operations team to achieve 10,500 units funded, which was a 300% increase in originations year over year.
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%
ICE Mortgage Technology. Planet Home Lending. Chief Technology Officer. The post Introducing the 2021 HousingWire Vanguards appeared first on HousingWire. James Deitch. James O'Bryon. RE/MAX Gold Nation. Jason Gesing. eXp Realty. Jeffrey Walker. Joe Tyrrell. Founder & CEO. Total Expert. John Berkowitz.
Worsening market conditions are only going to accelerate an already hyper-competitive mortgage lending industry that is still learning to adapt to post-pandemic homebuying behaviors. Technology has been the focal point of that evolution more out of necessity than some consensus that homebuyers don’t want to interact with their lenders at all.
Los Angeles -based Dunmor , a technology -enabled lender that specializes in loans for residential real estate investors , has added a pair of experienced executives in the business-purpose lending space. He previously managed a portfolio of business-purpose loans and nonqualified mortgages with a value of more than $2 billion.
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 This interview has been lightly edited for length and clarity.
In 2021, Pennymac vowed to create 322 jobs in Wake County, North Carolina and invest $4.3 million into Pennymac Loan Services, its mortgage lending subsidiary, to establish a mortgage fulfillment production center in Cary, North Carolina. million in tenant improvements in North Carolina since 2021, the letter added.
Tech-focused real estate brokerage Radius , flush with $14 million in venture capital raised this past April, has launched a mortgage lending arm in California that it plans to roll out to additional markets sometime next year. Is now a good time to invest in real estate automation technologies? million in 2021.
A customized loan application developed for Angel Oak Home Loans will support both agency mortgage and non-QM lending “for borrowers of diverse financial backgrounds,” said Shane Westra, chief product officer at Simple Nexus. How should the current market impact lenders’ tech adoption? Presented by: Polly.
San Antonio, Texas-headquartered USAA eliminated 130 positions in the real estate lending group amid projections that the mortgage industry will shrink in 2023. in 2021, mortgage data platform Modex showed. of the total volume in 2021, its origination shifted toward purchase mortgages, which accounted for 73.1%
While a booming market kept brokers busy in 2021, the 2022 housing market has been underscored by rising interest rates, inflation and geopolitical turbulence. We have a broad product set, competitive pricing and great technology,” said Lee Smith, EVP and president of mortgage. Our brokers are our partners.
Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.
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.
Digital lending platform Revvin joined forces with Truework , an income and employment verification platform, to provide comprehensive income verification coverage. Income verification technology is typically used for the loan origination process. Income verification technology is typically used for the loan origination process.
“As a direct lender that is already licensed, audited, and insured, Milo is able to stand behind its commitment to lend its clients,” Milo said. Other lenders have also made a bet that cryptocurrency will be integrated into the lending space, despite ongoing fears of volatility with digital currencies.
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.
Publicly traded lending software firm MeridianLink has acquired OpenClose , a fintech company that specializes in residential mortgage software solutions for banks, credit unions and mortgage lenders. In April, MeridianLink paid roughly $28 million to acquire StreetShares , which provides lendingtechnology to banks and credit unions.
Per the report , between October to December 2021, median home prices in 440 of the 575 counties analyzed by the data vendor saw notable home-price growth. 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.
Mugge, a mortgage industry veteran with more than two decades in technology and business management, will lead the company’s push to secure high-profile mortgage lending partners to offer Calque’s products. Calque currently operates in 17 states, with plans of expanding this year.
I , a blank check company affiliated with fintech Figure Technologies , plans to merge with a warehouse lender and bank holding company to potentially bring blockchain technology to the financial institution. United Wholesale Mortgage went public in January 2021 after merging with Gores Holdings IV. Figure Acquisition Corp.
Several historic events over the past few years have brought seismic changes to the way the mortgage lending industry operates. Today, as we face what appears to be the beginning of a modest recovery in the marketplace, we can see the effect of those events in the way mortgage lending has changed forever.
For the sixth straight quarter , eXp World Holdings , the parent company of eXp Realty , reported record breaking revenue, according to the company’s earnings report for the third quarter of 2021, released Wednesday. Year-over-year the number of agents and brokers increased 82% in Q3 2021 to 65,269. million, while net income was $23.8
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