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Mortgage giant Fannie Mae extended its relaxed lending and appraisal standards put in place due to COVID-19 into the new year. Presented by: CoreLogic. The relaxed lending standards allowed the GSEs to use “appraisal alternatives to reduce the need for appraisers to inspect the interior of a home for eligible mortgages.”
SVP, Agent Engagement & Development. EVP, Retail Lending. Supreme Lending. VP of Product Development. VP, Lending Support. The post Presenting HousingWire’s 2021 Class of Rising Stars appeared first on HousingWire. eXp Realty. Kristen Cox. Senior Leader, Flood Solutions. Louis daRosa. Matt Garcia.
If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience. In addition, the regulatory environment is ever-changing and with it comes increased burdens on the lending industry.
As origination volumes hit record highs in 2020, Truework’s verification experts saw a spike in fraud in mortgage lending, and expect that trend to continue this year. Presented by: Truework. Now is the time for lenders to tighten their procedures not only on recruiting and hiring practices, but also lending operations.
In a move the Federal Housing Finance Agency said will bolster sustainability and equity, servicers for federally backed loans will obtain and maintain fair lending data. Presented by: Selene Finance. That development prompted concern from legal experts that the information could be used as a basis for fair lending lawsuits.
Jim Linnane, the former head of retail at Stearns Lending , has joined Flagstar Bank as the president of the company’s distributed retail mortgage division. “We’re excited to have him on board and look for positive developments with Jim at the helm of Flagstar’s distributed retail operation.”
Yet borrowers have had limited agency in the lending process to date. FormFree, the ATP fintech led by HousingWire Tech Trendsetter Brent Chandler , is launching a blockchain-based exchange for consumers to take control of the lending process. The smart contract presents the borrower’s lending request to the exchange.
Multigenerational housing, once a rarity, is now becoming commonplace and reshaping not just how we live, but also how we lend and borrow. For mortgage professionals, this presents a chance to think beyond traditional lending practices and become true financial partners for these families.
This approach integrates QC principles throughout the lending process, from application to servicing. Seasonal lulls as QC enhancement opportunities The cyclical mortgage industry presents challenges and opportunities for QC improvement.
HousingWire recently spoke with John Jeanmonod, Regional Vice President of Sales at Angel Oak, about non-QM lending and the outlook for the second half of 2022. One great idea is setting up meetings and having an experienced account executive in non-QM present as the expert on their behalf. Get back to basics to find it.
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. Presented by: Polly.
Pete Stebbins, 90, initially joined Fairway in 2012 and currently works as director of business development in the companys Madison, Wisconsin, office. Josh Kilty (left), senior vice president of reverse lending at Fairway, presents a lifetime achievement award to Pistol Pete Stebbins.
Speakers: Haley Parker, Area Business Development Manager, Fairway Independent Mortgage Corporation Arjun Dhingra, Sales and Business Development, All Western Mortgage Doug Wilber, CEO, Denim Social Chelsea Peitz, Founder, Chelsea Peitz Consulting. Presented by: Heather Siegel, Lender Account Director, Qualia.
Housing and Urban Development Secretary Marcia Fudge joined Biden to mark the 100th year since a white mob killed hundreds of Black residents of the Greenwood District. How hybrid title and valuations help increase lending efficiency. Presented by: Altisource. Streamline by combining services.
How increased regulation presents a huge opportunity for lenders. Growing and investing in relationships and communities in the long term is one of the many opportunities presented by stricter fair lending regulations. Presented by: iEmergent. Learn more here!
Our first goal was to make mortgage lending easier and more accessible, but we’ve been intentional in recognizing that our technology can be used to facilitate so much more, including commercial lending, servicing, foreclosure and more,” Ligris said. Presented by: Sagent Lending Technologies.
A Department of Veterans Affairs lending program for Native American veterans has been severely underutilized, a government watchdog found. The GAO said that the VA lacked the staff to run the lending program and failed to inform communities that it exists. Presented by: Salesforce. from 2012 to 2021.
Wells Fargo has been slapped with a $250 million civil money penalty by the Office of the Comptroller of the Currency for “unsafe or unsound practices” pertaining to their home lending loss mitigation program this week. As the housing market changes, so does lending fraud. Presented by: First American Data & Analytics.
The workforce reduction came from its Des Moines, Clive, Ankeny and West Des Moines offices, according to a WARN notice filed in the Iowa Workforce Development. ” The latest layoff announcement from the country’s second-largest lender comes amid faltering home lending business. billion in revenue from home lending.
From origination to closing, it covers all lending channels in one system. Today’s housing market presents unique challenges. For example, it can now determine if a borrower qualifies for affordable loan programs from the Department of Housing and Urban Development (HUD).
Clients include Credit Union of Colorado , Texas Lending and JMAC Lending. Increasing lending and servicing capacity – regardless of mortgage rates. Presented by: Sutherland. Maxwell will use the additional capital to accelerate product development, market penetration, and product and engineering recruitment.
Despite the increased pace, the industry as a whole still has room for continued tech development and usage. HousingWire: Why do you feel it is important to continually develop and use new technologies? Renata Sheyner : Two key industry factors drive the need for continual use and development of new technologies.
Jamie Thornton, director of online mortgage lending at Real Genius, said in a statement that the company has “invested a significant amount of time and resources” into developing technology for customers. Since 2016, we’ve helped more than 51,000 families with their mortgage needs, lending more than $15 billion,” said Thornton.
Understanding the forces creating the market is indispensable for lenders, real estate professionals, developers, and investors. HW: Can you elaborate on the current supply and demand imbalance in the multifamily sector and its challenges for investors and developers?
Still , Vice Chair, Pulte Financial Services Sheri Thompson , EVP, Head of Affordable Housing, Walker & Dunlop Eileen Tu , VP, Mortgage Policy and Credit Development, Rocket Mortgage John Wiechmann , President/CEO, Midwest Housing Equity Group Inc.
Here’s a look at a lending technology that can help forge a pathway for underserved populations to build generational wealth through homeownership. Presented by: Equifax. For those in marginalized communities, it can be much more challenging to achieve the American dream of homeownership.
The complaint filed in federal court on Wednesday alleges that from at least 2015 to 2021, Lakeland failed to provide mortgage lending services to Black and Hispanic neighborhoods in Newark. Presented by: FormFree. Attorney General Merrick Garland said in a statement.
Meanwhile, trade groups, such as the Mortgage Bankers Association and the American Bankers Association , criticized the rule for setting overly complicated data reporting requirements that would inevitably present challenges for banks. The post OCC moves to rescind 2020 version of CRA rule appeared first on HousingWire.
“Personal loans are a really smart way for customers to reduce the cost of high-interest credit card debt or to help finance unexpected purchases,” said Anand Cavale, executive vice president and head of unsecured lending product at Guaranteed Rate. Presented by: CreditXpert.
This move comes after Cason spent 27 years at Fannie Mae, where he was instrumental in the design, development and launch of a digital suite of products and services, including playing a key role in the creation of Desktop Underwriter. Presented by: WFG. So why change direction now?
Editor in Chief Sarah Wheeler sat down with Christos Bettios, chief information officer at NFM Lending , to talk about the company’s private, proprietary GPT that is making his whole team more efficient. Bettios has been at NFM Lending for seven years and previously worked at US Bank Home Mortgages and First American Mortgage Solutions.
As a part of NAMB’s 50th anniversary, the organization also entered into a partnership with Freddie Mac for a professional development program focusing on young leaders in the mortgage industry over the next year. Presented by: Grid 151. NAMB and Freddie Mac will host events across the U.S. the newly appointed board president of NAMB.
A Chicago-area real estate developer and two mortgage professionals participated in a mortgage fraud scheme that defrauded banks out of at least $3 million, the U.S. Presented by: FundingShield. Attorney’s Office in Chicago said Tuesday. Mortgage fraud threats have greatly increased since the COVID-19 pandemic began.
The resolution planning requires each enterprise to begin developing a plan “to resolve its business in the event the Enterprise were to be placed in receivership, also known as a ‘living will.’ Non-QM lending is poised for growth in 2021. Presented by: Angel Oak.
The firm promised to automate much of the underwriting process by making income, asset and lending decisions. Presented by: CoreLogic. The company plans to develop automated appraisals in the first quarter of 2022 and is looking at automating title insurance processes, too. Shortly thereafter, Candor emerged.
Athas Capital has been credited for “pioneering the re-birth of ‘sane’ subprime lending,” according to the company website. In light of this, HousingWire recently caught up with Teraverde’s Rob Peterson to learn more about what lenders need to succeed in today’s lending environment.
There is also growing demand for non-QM products from a banking sector that is taking note, presenting new opportunities where some banks see the need to sell loans they would traditionally hold as portfolio products. Our client development team spends a lot of time at conference forums and in retail branches educating loan officers.
Presented by: Maxwell. Low-code development is the future of lending, as companies opt for a simple, seamless digitized solution that maximizes speed and flexibility over big-budget monolithic loan origination systems,” he said in a statement. The tech solution giving community lenders an advantage.
The reverse lending industry’s most prominent attendee — Kristen Sieffert of Finance of America Companies (FOA), parent company of industry-leading lender Finance of America Reverse (FAR) — offered insights into various topics about the reverse mortgage product category.
As borrowers reel from the sticker shock of conventional mortgages , lenders could see a surge of demand for alternative lending products, such as adjustable-rate mortgages (ARMs), for the first time since the financial crisis. Avoid the dreaded info dump, where lending products display on an endless scroll with intimidating blocks of text.
The Federal Reserve continues to make monthly asset purchases, driving the cost of lending down. HousingWire Editor-in-Chief Sarah Wheeler and Deluxe Senior Business Development Executive Mark McGuinn discuss the challenges lenders are facing to optimize lead generation, even as mortgage rates continue to drop. Presented by: Deluxe.
The funds will be utilized to finance its lending product, CryptoMortgage. Founded in 2022 by Aaron Nevin and Tristan Marino, Moon Mortgage was the product of the founders’ advocacy for crypto and their frustrations with the lack of its applications in digital asset lending. The post Crypto outfit Moon Mortgage raises $3.5M
Rebecca Anderson, senior vice president of strategic communications and public relations at loanDepot, wrote to HousingWire that the company “enjoys a long history of attracting and developing top-notch talent and “we thank Mosi for her many contributions to loanDepot and wish her the best in the next chapter of her career.”
As part of Davis’ roadmap, advisors worked with her to help her develop a financial plan. But with HomeFree-USA and Citi by her side, she faced each challenge head-on with a supportive lending partner that helped minimize fallout. Sponsored content presented by Citibank, N.A. I’d do it again in a heartbeat.”. NMLS #412915.
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