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Multichannel mortgage lender New American Funding (NAF) announced this week the relaunch of its initiative designed to recruit, educate and expand loanofficer understanding around issues faced by borrowers of color as “ NAF Black Impact.”
Over $4 trillion in originations made its way through the housing market last year, and new data from mortgage software firm LBA Ware revealed that by the end of 2020, loanofficers played every last card in their deck to get those deals closed by New Years. Mortgage Tech Demo Day.
Mortgage rates had climbed close to the 7% range and he was determined to remain competitive on pricing with rival loanofficers in North Carolina. After Mike paid his loanofficer assistant, he was clearing just 40 bps. The lower comp rate stung. Still, it was better than nothing.
From leveraging the latest in artificial intelligence (AI) and digital marketing to mastering financial literacy, mortgage and real estate professionals have come together to provide these skills to loanofficers in a new book titled, “Rethink Everything: You ‘Know’ About Being A Next-Gen LoanOfficer.”
This move grants loanofficers access to real-time insights that are designed to improve borrower assistance and engagement. Loanofficers on the Uplist platform can now leverage Pollys product and pricing engine (PPE) to more easily pursue refinance opportunities.
I am about to say something in 2022 that no one in software design and process management would say. Do loanofficers need more technology than they currently have? Most loanofficers do not believe they need more tech than they have now. Most loanofficers do not believe they need more tech than they have now.
This event is designed to equip you with the tools and insights needed to lead with vision and inspire your teams effectively. A positive outlook and proactive approach can inspire confidence and drive success. Don’t miss this opportunity to transform your narrative and drive your organization to new heights.
Cloudvirga’s platform solves for both by creating the best experience for borrowers and loanofficers. The Cloudvirga team has been able to dramatically improve the experience of the borrower and the loanofficer. It focuses on more than just task management and automation.
So we built a flyer with a QR code on it that points to a library search where the customer can put in whatever they want and the way its designed is specific to that listing. I thought there should be a way to automate it. And when the market changes, I can just call now I have a reason to call the real estate agent.
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. Floify Lender Edition is a counterpart to Broker Edition , which was rolled out in December.
Mortgage capital markets tech firm Polly announced on Tuesday that it has launched “Polly/AI,” which integrates artificial intelligence (AI) technology into the newest version of its product and pricing engine (PPE) and includes a “co-pilot” for loanofficers that will “process, interpret, and recommend a range of outcome-driven results.”
For Blue Sage, Aach said that the company’s loanofficer portal will be a key element to help FCM reach its growth goals, since it provides specialized tools for LOs to do their jobs. “In FCM originated $2 billion in home loans last year through its wholesale and retail divisions, the company reported.
Borrower Digital is Black Knight’s point-of-sale (POS) solution that is built using responsive-design to be used easily from any web-enabled device. Borrower Digital is further enhanced with Black Knight’s companion solution LoanOfficer Digital.
Once a consumer finds a home and engages with a lender, Borrower Digital walks the borrower through the loan application process, which is based on each lender’s configurations and is accessible via a responsive mobile design or dynamic web application. Borrower Digital was designed based on specific borrower personas and scenarios.
“From loanofficers to secondary marketing teams and investors, we empower mortgage professionals with tools designed to maximize their profitability on every loan transaction.” ” The announcements were made at MBA Annual in Denver.
The tool is designed to address the issue of sensitive data being handled by lenders and loanofficers on a daily basis, including social security numbers, paystubs, and tax returns. According to Maxwell, the company’s suite of tools have resulted in a 20% increase in loans closed per loanofficer.
A Florida-based loanofficer faces more than 30 years in federal prison if convicted on charges alleging she falsified divorce papers and child support payment information to help unqualified borrowers secure a loan, according to a Department of Justice indictment. Her place of work was not disclosed.
It may be counterintuitive, but loanofficer Scott Betley, a 32-year-old TikTok sensation , says he isn’t worried about a potential U.S. Betley, who has more than a decade of experience helping first-time and move-up buyers, joined NFM Lending as a loanofficer in 2021. ban of the short-form video app.
Exponentially increase your loanofficers’ origination potential without incurring additional expense? Examiners such as the CFPB and FDIC provide stringent oversight of digital activity, and mistakes can cost you and your loanofficers dearly. Sounds too good to be true, doesn’t it?
The new tool is designed to help loanofficers, processors and underwriters instantly find the relevant mortgage guidelines they need. All features are offered in English and Spanish, enabling loanofficers to expand its reach to more markets.
Its “ smart loans ,” which were built using artificial intelligence technology, are designed to help homebuyers find the best mortgage for their unique financial situation. In May 2022, it launched a cloud-based portal, LoanFlow , that gives mortgage brokers and loanofficers the ability to originate loans anytime, anywhere.
The operating model change involved Better pivoting to hiring experienced loanofficers on commission-based compensation plans. Previously, the lender had higher fixed-cost components and no commissions for its loanofficers.
Debbie launched the marketing campaign for “A Seat at the Closing Table,” designed to train loanofficers on the nuances of working with underserved borrowers and to offer toolkits and templates that will help them close more loans in minority communities.
Non-agency lender Deephaven has announced new income qualification options that are designed to enable brokers and correspondents to compete for more credit-worthy borrowers who are locked out of agency mortgages. These options give loanofficers the opportunity to fill a large.
That policy, which is designed to protect consumers from lender fraud and financial risk, expired in early August. The firm offers “smart loans” using artificial intelligence and developed a cloud-based portal, LoanFlow , that aims to give mortgage brokers and loanofficers the ability to originate loans anytime, anywhere.
Polly’s product and pricing engine (PPE), designed with an API-adjacent product strategy, looks to improve lender efficiencies by facilitating optimal system-to-system integration. Polly’s API integration with nCino is part of the fintech’s long-term strategy to provide innovation for lenders. mortgage, said in a statement.
The Adwerx Enterprise Platform is the only digital advertising solution designed specifically for mortgage brokerages and their loanofficers. Reach home buyers before real estate agents with individualized, compliant ads for loanofficers, built automatically. Adwerx Enterprise Platform. Get More Info.
The goal was to create a configurable and robust Point of Sale to Loan Origination System integration, according to a press release from the company. “Built by the people that use it every day, The Big Point of Sale was designed with the consumer in mind and the mortgage professional at heart.
Adwerx is the only digital advertising service designed specifically for leading mortgage lenders to automate compliant, individualized ads for loanofficers and branches, and deploy digital marketing at scale to reach prospects directly, build brand awareness, and increase the productivity, recruiting, and retention of loanofficers. #1.
The bridge loan estimate is being integrated into the lender’s workflow through an Encompass plugin. NFM loanofficers will be automatically notified when a homeowner can tap into the equity of their current home to buy a new one before selling.
Mortgage data provider Optimal Blue this week announced the launch of Competitive Data License, a product that is designed to help lenders price loans accurately and drive profitability. ” The data license product allows lenders to see which loan locks were completed using the dataset and which loanofficers locked the loan.
Borrowers, loanofficers, and the corresponding processors and underwriters are often working on entirely different systems. The platform is loan origination system-agnostic and is designed to deliver value to both borrowers and lenders–”from the point of thought of buying a house to the point of owning a home.” .
Jake Droge joins the company as a loanofficer, while Carol Olmos has joined the company as an account executive. Sue Haviland has also joined the division as a loanofficer, coming off of a roughly three-year stint as Finance of America Reverse (FAR)’s national sales trainer in learning and development.
The company recently launched a mortgage brokerage firm that offers a plug-and-play program for real estate agents to become mortgage loanofficers, a practice called dual licensing. of the loan amount, with a $5,000 cap, which adds to the typical buyer-side agent commission of up to 3%. For example, Realfinity pays LOs 1.4%
If you’re a mortgage loanofficer with a decade of experience in the industry, you have likely spent over 80 hours taking continuing education courses. We would welcome the opportunity to approve courses with a creative take on how they design and develop content.”. LOs often lose focus during CE classes, he told HousingWire.
So, we’ve built a lot of integration with our LOS and our servicing platform to bring it all together for a loanofficer. This coaching program is designed and run by our own successful loanofficers. The other thing that’s important is our coaching program.
loanDepot’s focus is on the sales side, attracting experienced loanofficers (LOs) and people who want to join the industry via its accelerated career in effective sales (ACES) program. We’re overstaffed by design, and we never let sales get ahead of operations.” We’ve been hiring, training and developing our people.
Today, a mortgage lender must have scalability in its operation, an ability to pivot quickly to meet changing market conditions and client needs, a well-designed technology stack and, above all, a keen sense of what its customers and the marketplace truly want from them.
The lawsuit, which combined two legal actions that were designated a class action, was filed on behalf of 5,377 loanofficers and other mortgage staffers employed by the bank in California from 2013 and 2019. The deal will provide $62.8 million to the class members, with the remainder going to plaintiffs attorneys.
By deploying customer intelligence from Total Expert — a customer engagement platform for financial institutions — Mountain West Financial will provide automated alerts that notify its loanofficers in real-time when a customer’s behavior or financial situation signals they’re a good candidate for a home loan, Total Expert said.
While home-buying has been historically seen as difficult, the process is getting a rebrand as loanofficers, real estate agents and industry experts answer the questions that Gen Z (and any generation that won’t willingly admit to using the app) have on TikTok’s platform.
From there, the Digital Loan Product Wizard lets borrowers select several HELOC and home equity products to evaluate through several third-party institutions—including Evolve Mortgage Services and American First Credit Union.
While running employment and income verification reports can be an expensive step in the mortgage process, it’s designed to reduce loan risk during underwriting.
Customer intelligence and mortgage tech firm Polly named Troy Coggiola as its chief operating officer amid the company’s effort to scale. Coggiola will be responsible for Polly’s product, implementation, support and design teams, working toward seamless cross-organization collaboration.
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