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It also wants to widely deploy refreshed marketing strategies that are designed to both educate and appeal to older homeowners about the use of home equity in retirement. In 2025, it will begin rolling out new regional and local programs designed to “build our brand profile and drive business in strategic markets,” she said.
HousingWire recently spoke with Erin Reed, vice president of originations, valuations and operations at ServiceLink about approaching appraisal modernization in an innovative way while addressing logistical challenges along the way. . HousingWire: Why should lenders consider appraisal modernization and how can it benefit borrowers?
By doing so, ICE helps its clients cut down on mistakes, speed up workflows, and offer a modernlending experience that works better for both borrowers and industry professionals. One of ICE’s main focus points is the platform’s user-friendly design and overall experience.
How can today’s mortgage lending market be summed up in one word? In the modern mortgage market , mortgage rates are close to 7%, and the gig economy has pushed some borrowers away from trying to qualify for conventional mortgages. Acra Lending has done precisely that. For them, the word would likely be “flowing.”
However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. How do the solutions work? Why do we need them? But you already know this.
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. However, transitioning to a more modern, modular strategy has proven to be difficult and complex.
Weve been scapegoated, slandered, and kicked to the curb by AMCs and lenders who see us as an inconvenient speedbump rather than a vital part of the lending process. And lets not even get started on how the modernization movement is designed to push us aside in favor of speed and efficiencyaccuracy be damned.
The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae , the government-owned company that manages the securitization of government-sponsored loans. CHLA added in a statement that the release of these recommendations is designed to coincide with relevant news.
Scarpati previously served as the company’s senior vice president of wholesale lending. The role is designed to strengthen FOAs leadership in an area that is essential to the companys long-term growth plans and further its efforts to make home equity for retirement a mainstream solution, the company said.
Here it is: another article about appraisal modernization. The FHFA RFI responses to appraisal modernization are a treasure trove of insight into ideas and options for modernization from a wide variety of respondents. No doubt, investment in modernization is needed in the appraisal process.
So far his venture-backed title company has launched platforms that have sped up title clearance and title insurance acquisition, and they have their sights on expanding into the lending and appraisal space. The post In the race to modernize title, firms double down on software appeared first on HousingWire.
Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Deephaven Mortgage a pioneer in non-QM lending offers loan products to serve borrowers who might not otherwise qualify for a traditional loan. Also, DSCR five- to nine-unit loans are designed for larger multi-family homes.
Last year, the office of the departments chief financial officer and its customer and design experience teams undertook an assessment of HUDs website alongside its Digital Experience Working Group, which was comprised of representatives from every program office. HUD has been on a yearslong road to modernize its technology systems.
Digital lending solutions provider DocMagic announced this week that it has added ADA-compliant mortgage loan documents to its document library. Much of modernlending technology is designed to give consumers the convenience to access loan documents in the ways that work best for them.
At a small mortgage banker, leadership has to know all aspects of lending. Chris Mozilo: If I didn’t go into mortgage lending, I would have likely become an architect. I always enjoyed beautiful and simple designs. The design of a room or building must be based the function of the space. Those five years were my Ph.D.
Tennessee-based multichannel mortgage lender First Community Mortgage announced on Wednesday that it has selected the Blue Sage Solutions digital lending platform and its LION Consumer POS to help scale its growth efforts across the 48 states it operates in. In FCM’s case, this also includes interim servicing.
Customer engagement platform Total Expert ‘s customer intelligence and mortgage tech firm Polly ‘s product and pricing engine (PPE) will help California-based lender Mountain West Financial identify lending opportunities from its existing database.
For example, a loan processor may use a modern LOS to order a flood certification, title report, AUS decision or data verifications, but once the order has been placed, what if the data doesn’t arrive? But unless the automation is specifically designed to solve these problems, it stands little chance of being effective.
Lower continues to make moves designed to support its expansion efforts, hiring former Waterstone Mortgage executive Dustin Owen as its new divisional sales leader and senior vice president of growth. But when I look at the future of mortgage lending, I do believe our industry is going the way of the banking industry.
This means being able to author accurate, detailed, and relevant reports, make cogent and interesting presentations to groups of professionals of varying levels of experience; and participate in discussions with other appraisal and mortgage lending stakeholders. Generally, they are expensive and time-consuming to achieve.
Encompass by ICE Mortgage Technology aims to provide a flexible end-to-end solution for lenders in a modern market. From origination to closing, it covers all lending channels in one system. It’s a flexible, highly configurable, end-to-end platform designed to help lenders juggle the complexities of today’s mortgage market.
Mortgage Cadence has recently launched their new platform offering the industry’s most complete, modern LOS that delivers cloud-based, automated loan origination capabilities designed to enable an exceptional user experience throughout the entire mortgage lending life cycle, across all channels and products.
More than that, the fintechs that flooded in brought with them a promise to modernize the mortgage industry with data-rich, cloud-enabled and digitally secure workflows. Sure, new online lending operations like SoFi, Better and a handful of others are taking advantage of their lack of traditional infrastructure.
Notable in light of the current servicing challenges facing the industry, Stavvy’s eClosing technology is designed to facilitate faster borrower communication and closings as servicers work through loan modifications, referrals and forbearance. How modernized servicing creates customers for life.
Technology has made many aspects of day-to-day life more seamless than ever, with instant, easy and personalized consumer experiences; however, lending is still difficult. The Origence Mortgage Platform is an end-to-end lending platform that puts the power of modern technology in lenders’ hands, enabling them to close more loans, faster.
Newfi Lending has launched a redesigned website that features a new calculator that aims to simplify the decision-making process for customers when researching their home equity options. The redesigned website offers a modern, mobile-friendly interface that makes browsing a seamless experience, the company says in a release.
The typical house is now 39 years old — a far cry from the modern, move-in ready property that most homebuyers are looking for. Traditional lending approaches are time-consuming when it comes to fix-and-flip properties. And total active listings? Those are down 24% over the year.
The announcement comes after more than a year’s worth of efforts by the FHA to streamline and modernize their FHA loan origination and claims process. Growing and investing in relationships and communities in the long term is one of the many opportunities presented by stricter fair lending regulations. Learn more here!
M2 Lending Solutions is using LenderLogix ’ mortgage point-of-sale and automation software to provide an automated, digital-first borrower experience. Specifically, M2 lending has implemented LenderLogix’ QuickQual, LiteSpeed, and Milestone Text Updates solutions to provide borrowers high-touch, white-glove service.
Designed specifically with the end-user in mind, Servicing Digital helps servicers deliver an outstanding, convenient and modern customer experience, which enhances growth and retention.” Consumers can make payments directly through the Servicing Digital app, which streamlines the payment process for them.
HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. DB: Warehouse lending has evolved beyond traditional boundaries.
For those in the mortgage space, there are a myriad of technology solutions claiming to help streamline lending operations and improve efficiency. When investing in a technology that someone else designed to automate workflows, it’s important to ask — how do I make this workflow work for me?
District Court for the Eastern District of Pennsylvania , ESSA “failed to provide mortgage lending services and did not serve the credit needs of majority-Black and Hispanic neighborhoods in the Philadelphia metropolitan area” from 2017 to 2021. According to a complaint filed by DOJ in the U.S. It is simply the right thing to do.”
Modern manufactured homes are an unusual feature of today’s housing market, the rare homeownership opportunity that is both lower-cost and high-quality. Just five lenders originated more than 75% of all home-only loans from 2018 to 2022, four of whom specialize in home-only lending.
Modern technology is key for lenders who want to stay competitive in this regard. In addition, modern tools can help eliminate manual errors and spot potential issues to reduce unnecessary costs. While it is not without its challenges, there have been many upsides to lending employees working remotely.
Dara is designed to be proactive when it comes to real-time policymaking. Sagent’s incorporation of modern data and AI tools also enables AI-enhanced predictable customer inquiry handling with high rates of one-call resolutions – allowing servicers to help even more borrowers. With deep roots in servicing, Dara is ready for everything.
In recent months, Mortgage Cadence clients have been able to quickly pivot to a remote-work model without missing a beat using its end-to-end digital lending solution, the Mortgage Cadence Platform (MCP). The Platform is available from any device, anywhere, with specific role-based workflow automation and design.
Snapdocs provides lenders with a pragmatic, proven path to adopting digital closings – an approach that also offers borrowers a modern, digital closing experience every single time. Waterstone is one of the nation’s largest mortgage lenders with 650 employees lending in 48 states. Briana Ings, Vice President of Product.
The first phase of the portal will include APIs specific to Black Knight’s servicing technologies and will expand to include offerings in the lending and secondary markets space. “By Servicing Digital, offered as an app or web design, enables customers to access their loan- and home-related information.
The ERC (Employee Relocation Council) report, also known as the Relocation Property Assessment (RPA) report, is a standardized appraisal report form designed to streamline the evaluation process for relocation properties. Client rankings may seem scary to appraisers accustomed to lending work.
Here’s the link to the ‘slide show’ the GSE’s have produced showing proposed design of the future, revised, URAR appraisal form. Related Posts: Appraisal Forms Redesign In 2018, the GSEs began working on 'mortgage lending appraisal forms redesign', a process they said would take approximately 3…. In late 2019, FHFA decided….
Lending technology out of focus. However, the back-office efficiencies that were supposed to result from collecting all of the borrower’s financial information into the loan origination system (LOS) electronically – a revolutionary result of the application of big data principles to the mortgage lending lifecycle – never materialized.
Their collective expertise spans the entire spectrum of the sector, encompassing areas such as lending, tech, real estate, appraisal, compliance, operations, sales and so much more. The following list of honorees comprises many more examples of exceptional leadership from some of the industry’s most accomplished women.
Our appraisal, property inspection, title and closing technologies are designed to plug into any digital platform.” Among other initiatives the company is taking to digitize its real estate lending process is expanding its affiliate appraisal management platform AppraisalWorks to include title and closing services, Doman added.
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