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Millions of homeowners are locked into 23% mortgage rates and simply wont sell, creating a chain reaction thats grinding the entire system to a halt. Its the result of a uniquely American mortgage structureone that unintentionally punishes mobility and paralyzes housing supply. Mortgage originations have dropped off a cliff.
Fast-growing mortgage servicing platform Valon has secured $100 million in a Series C funding round, the company announced this week. Valon intends to use the fresh capital to boost product development and expand its reach to new markets. The company is now servicing $65 million in mortgages, equating to 400% annualized growth.
Mortgage technology company Gateless is offering its flagship automated underwriting platform to a new lender. The artificial intelligence-based platform, the latest addition to the Gateless AI mortgage tool suite, aims to enhance The Loan Store’s underwriting capabilities.
In the modern mortgage industry, lenders are not just setting themselves apart on who has the best Super Bowl ad or the biggest branch footprint, but increasingly also on their approach to technology. This entails developing a clear understanding of the existing technological landscape, including all systems, integrations, data flows, etc.
House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Mortgage insurance exists as protection from foreclosure on low equity loans. Introduced by Reps.
Robert Gordon, a senior vice president at the American Property Casualty Insurance Association , told the Journal that mortgage lenders need to be more involved in these processes. Developers continue to build in these areas with few obvious signs of slowing, the story said. “La
Dark Matter Technologies unveiled a new Developer Portal Thursday during its second annual Horizon user conference. The Developer Portal marks an evolution for Dark Matter’s Empower loan origination system (LOS), moving from API access to “a fully open API ecosystem.”
Department of Housing and Urban Development (HUD). Once out of harms way, we encourage homeowners in these affected areas to contact their mortgage servicer to learn about relief options. At Freddie Mac, disaster relief options are available to anyone with a Freddie-backed mortgage that has been impacted by a natural disaster.
Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.” To get a better idea of the potential impact that HMBS 2.0
Per a release from Friday Harbor, the seed round will support the growth of its engineering team and support integrations with leading mortgage LOS and point-of-sale platforms Friday Harbor was co-founded by Theo Ellis (CEO) and Jesse Collins (CTO) and launched in 2024 with support from the AI2 Incubator and CoFound Partners. .
Reston, Virginia -based mortgage software company RETR announced this week that it has hired two new senior leaders to guide the company’s growth efforts. Before joining RETR, she founded PlacedE, a boutique mortgage recruiting and coaching firm. Heidi Iverson Iverson has 20-plus years of experience across various industries.
A California regulator has revoked the residential mortgage lending license of LoanSnap , the latest in a series of difficulties for the fintech lender. That policy, which is designed to protect consumers from lender fraud and financial risk, expired in early August. The request was pending, but the license was suspended in July.
In most of our remodeling, we use a design technique called Universal Design,” said Brian Harvey, owner of Boston-area business Harvey Home Modifications. That essentially is a design that will serve anyone of any physical capability in the house.”
The Federal Housing Administration (FHA) on Tuesday issued a waiver on quality control (QC) reviews for some newly distressed mortgages in Southern California as homeowners continue to grapple with the effects of the January 2025 wildfires. 7, 2025, and hit the 60-day delinquency mark between Feb. 1 and July 31, 2025. 1 and July 31, 2025.
The new guidelines are designed to make it easier for consumers to revoke consent for unwanted robocalls and texts. The effective date for the new rule is April 11, 2025, giving the mortgage and real estate industries roughly six months to become compliant. The Homebuyers Privacy Protection Act of 2024, a U.S. Department of Defense.
The mortgage servicing landscape has long been a crucible of change, where today’s decisions lay the groundwork for the industry’s future. Formed in 2023, the MSEA is a platform for nurturing the next generation of mortgage leaders. Here’s what our panel of mortgage servicing executives had to share.
The Tech Trendsetters are made up of the top product and technology leaders who have been essential in bringing innovative tech solutions to market for mortgage and real estate clients. Congratulations to the 2024 Tech Trendsetter honorees! Take a look at the full list below.
Mortgage and title clients are undergoing a significant transformation with the shift from Encompass Software Development Kit (SDK) to Encompass Partner Connect (EPC). This change driven by ICE Mortgage Technologys updated standards promises enhanced efficiency, cost savings, and future-proof workflows.
Department of Housing and Urban Development (HUD) on Monday announced the disbursement of $72.6 million in new funding under the Indian Community Development Block Grant (ICDBG) program, adding up to $2 million to 38 individual community recipients to bolster housing development , expansion and preservation.
The promotion applies to select homes in various housing developments across multiple cities. Magnolia Ridge, one of the participating housing developments in the Greater Houston deal, is offering $7,500 to $7,500 off select homes , with a few of the homes seeing prices drop from $289,200 to $244,990 and $248,590 to $239,990.
The reverse mortgage division of Rate formerly known as Guaranteed Rate recently announced the hiring of reverse industry veteran Jesse Allen as the president for Rates reverse lending division as the company heads into 2025. Naturally, this includes reverse mortgages, he explained. That role is an active one, Allen said.
Xactus has become the first technology partner to introduce the FICO Score Mortgage Simulator, a new tool designed to help lenders and borrowers understand how credit decisions impact mortgage eligibility. The simulator, developed by FICO , is the only mortgage industry tool that uses FICO scores and FICO score algorithms.
Following other recent proprietary product development news, Longbridge Financial announced on Friday the launch of a new variation for its private fixed-rate reverse mortgage offering. Platinum Peak is now available in at least two reverse mortgage loan origination systems (LOS) for brokers.
CrossCountry Mortgage and digital banking platform Blend on Monday announced an expanded partnership to drive innovation for independent mortgage banks ( IMBs ). Before joining Blend, Venhousen spent more than 12 years at Compass Mortgage as its chief operating officer. trillion in loan applications in 2024. ”
Mortgage Capital Trading (MCT) has released a new AI adviser for mortgage capital markets called Atlas. platform, Atlas serves as a virtual capital markets expert and educational resource for MCTs mortgage lender clients. Now available within the MCTlive! No client data has been exchanged with or used to train Atlas, MCT says.
These standout professionals all 40 years old or younger are driving innovation, transforming their organizations, and shaping the future of real estate, mortgage, and fintech. Each year, HousingWires Rising Stars award recognizes the next generation of leaders making a significant impact on the industry.
Department of Housing and Urban Development (HUD) Secretary Scott Turner is visiting the area alongside Kathryn Barger , chair of the Los Angeles County Board of Supervisors. The impacted presidentially declared major disaster area (PDMDA) has more than 100,000 FHA-insured mortgages. The announcement comes as U.S.
Despite that projected need for more senior housing, however, development on dedicated senior housing units and facilities ground to a halt during the COVID-19 pandemic and has largely stood still since then, the report explained. The sector is expected to move from its former glut to a shortage in the next five years, the Journal reported.
The HECM Tool a software platform designed to serve as a reverse mortgage sales conversion tool announced this week that it has integrated the proprietary reverse mortgage offering from Smartfi Home Loans into the platforms existing visualization and comparison capabilities.
A group of current and former real estate executives have launched The Helm, a coaching platform designed to provide professional development to a more diverse audience. Some of the most powerful women in real estate have taken the industry’s coaching space into their own hands.
Department of Housing and Urban Development (HUD) this week unveiled a new website, explaining that as much as 90% of the material from the former site has been cut to eliminate redundancies and streamline the user experience. The work included user experience research, traffic analysis and the launch of a website feedback survey.
Buyers often assume what they see in the model home is what they will get, however, model homes are designed to showcase high-end upgrades. If no rate protection is available, buyers should ensure they still qualify for their mortgage in case of a rate increase. For quick move-in homes, closing dates can also be adjusted.
In this monograph, we discuss the absolute necessity of developing more than one skill set as part of becoming a competent and professional real estate appraiser. This means continually learning and developing new skills to stay ahead of the curve. Another way to develop new skills is to seek out opportunities to learn from mentors.
This webinar will delve into the latest technology trends, from advanced data integration to automated workflows, designed to streamline your processes and improve accuracy. My expertise lies in developing strategies that integrate the latest technology and tools with the appraisers who use them.
The mortgage industry has traditionally been dominated by men, and although we have made laudable progress, women in our space still face challenges in terms of pay equity, bias, and advancement. Women do hold a dominant percentage of Mortgage Processor positions, at 78%, and 56% of marketing positions.
New York-based Simplist Technologies , which has developed a consumer-facing mortgage platform, introduced a new software solution on Thursday for mortgage professionals that combines a loan origination system (LOS) with a point-of-sale system (POS).
Mortgage capital markets technology firm Polly has raised $25 million to invest in research and development, product innovation and expansion, the company said on Tuesday. And it has more than doubled its customer partner base to include some of the country’s biggest banks, credit unions and mortgage lenders, according to the firm.
MortgagePoint is proud to announce the 2025 recipients for the inaugural MortgagePoint Tech Excellence Awards, designed to recognize the most innovative technology providers in the mortgage industry. Equator Gleam Interactive ICE ITWox Inc.
Department of Housing and Urban Development (HUD) on Wednesday announced that it has released five new language translations for 19 separate single-family mortgage documents used for Federal Housing Administration (FHA)-insured mortgage servicing.
How can today’s mortgage lending market be summed up in one word? For homeowners who purchased their property during COVID when mortgage rates were near 3%, the word “comfortable” may come to mind. Mortgage brokers and lenders should be salivating to beat traditional lenders and reach those borrowers.
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. is a software development company that offers a digital loan origination and POS system for the mortgage industry. in an $87 million deal in 2021.
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.
University Bank ’s reverse mortgage division has added four key hires across different disciplines as it prepares to grow further in the reverse mortgage space. Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year.
In an industry where managing a web of technology vendors to support LO’s sales and marketing needs has become overwhelmingly complex, inefficient and creates unnecessary security and compliance risks, CANDID is quickly becoming a leader in transforming how mortgage lenders operate.
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