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With first hand knowledge of how complex and time consuming appraisals can be, Reggora is motivated to streamline and modernize the process, benefiting appraisers, lenders and buyers themselves. As appraisal modernization continues to take shape, Reggora is uniquely positioned to lead its customers through the ever changing landscape.
LoanOfficer Freedom. Host Carl White, founder of The Mortgage Marketing Animals loanofficer coaching program, shares insights for loanofficers on how to close more while working less. LoanOfficer Leadership. 10 Loans a Month. 10 Loans a Month. The LoanOfficer Podcast.
One of our key initiatives has been to revitalize The Money Store brand, giving it a fresh, modern appeal. We’ve also implemented project management technologies and streamlined processes to improve workflow and turnaround times for loanofficer requests, effectively halving the time it takes to fulfill them.
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. Today, technology is driving differentiation across the customer experience, loanofficer experience, and overall operational efficiency.
Insightful borrower data and enhanced tech solutions are paramount to success in today’s modern mortgage industry. HousingWire recently spoke with Dan Catinella, chief lending officer at Total Expert, about how Customer Intelligence technology is improving deal flow and pushing the customer experience into the 21st century. .
I’m going to start by making Rate the absolutely best place for every single loanofficer to work at figuring out ways in which we can develop them, give them all the skills, the coaching , the mentoring and the tools, so they can have an amazing business, but also better serve all their clients and all their partners.
Editor in Chief Sarah Wheeler sat down with Scot Rose , CIO at Class Valuation , to talk about innovation in the appraisal space and how the technology being deployed for appraisal modernization can actually protect appraisers. This interview has been edited for length and clarity. It’s moving so much faster than ever before.
The DOJ said that all of Lakeland’s branches were located in majority-white neighborhoods and that its loanofficers did not serve the credit needs of Black and Hispanic neighborhoods in and around Newark. Lakeland, a community bank, operates 68 branches in northern New Jersey and in New York’s Hudson Valley.
In short, their AI platform, which is built on aggregated loan data from its network, allows loanofficers, processors and underwriters to offload manual, arduous tasks. Maxwell will use the additional capital to accelerate product development, market penetration, and product and engineering recruitment.
A lot was built around those foundational technologies for what we have today in the Mello system, in the stack that our loanofficers love and appreciate. You’ve got to be very rigorous about how you handle that debt and how you handle ongoing modernization of the platforms that your business depends on.
Good loanofficers are what will help our business grow in a big way, and we try to support our loanofficers in a way that they can generate their own business and not become reliant on leads. said that connecting with borrowers in a substantive way begins with the salesperson they first come into contact with.
Were excited to invest in Tomo and to support their mission to modernize the home buying experience, Erwin Raeth, corporate development leader at Progressive Insurance, said in a statement. and it has existing offices in Detroit and Seattle. The companys tech-driven approach to lending is proving attractive to investors.
Sogorka will collaborate with Rocket’s technology and product development teams to ensure the experience Mortgage Brokers have in Rocket’s suite of comprehensive tools is unlike anything they’ve experienced before–bringing value to them and the clients they serve. His leadership helped drive a period of intense growth for the company.
By writing and maintaining all of the code along with investing heavily in putting together a world class modern IT infrastructure that efficiently leverages a mix of modern technologies like the public cloud and API based software architectures, UWM has been able to turn on a dime and stay well ahead of shifts in the market utilizing technology.
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?
Mike is an experienced mortgage loanofficer. In 2000, Mike’s company used a CRM capable of automating the marketing for its loanofficers. Developers don’t understand sales in our industry. Modern technology is often written to help power users get more out of the tools. Not anymore.
HomeSmart, like Compass , Keller Williams , eXp and other brokerages, states it has unique technology to modernize real estate. The corporate reorganization may, in fact, have been executed to facilitate the company’s IPO, which may have required various payments to various parties to get everything in order,” Guay said.
The company’s retail channel saw a 38% improvement from Q2 to Q3 as measured by production per loanofficer. October was FOA’s “largest submission and funding month of 2024,” Sieffert added. She said that the July consolidation of the FAR and AAG brands has proven successful.
Worse, because we are not yet leveraging the power of big data in our industry, for reasons we will discuss in this article, most of the technology deployed on the front end is not being well adopted and utilized and its effects on the back-office have been negligible. In other cases, the loanofficers didn’t trust the technology.
When it comes to origination, modernization is key to enhancing the customer experience, improving overall cycle times and increasing overall profit. The system also provides management reporting on user productivity and loan metrics derived from a beginning-to-end workflow that can reduce costs and manual tasks.
HousingWire recently spoke to Finance of America Mortgage President Bill Dallas about viable alternative options for homebuyers and the innovative products FAM offers to meet the unique financial needs of today’s modern borrowers. Loanofficers and brokers need to reconnect with past clients and show their value.
Lenders who want to move away from a frustrating, one-size-fits-all approach to origination need a modern solution that helps streamline processes while maintaining compliance. 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.
According to Sahi, there are three primary components that will help lenders succeed in today’s mortgage environment, and beyond: speed to market, margin management and loanofficer experience and education. “If How the right tech can help LOs and borrowers The right PPE will help loanofficers work more efficiently and effectively.
million investment in eOriginal, a multi-year Tech100 winner that developed a ‘simple closing experience for lenders, borrowers and settlement agents.’ Certain Fiserv clients have expanded their active QC review from 10% of loan volume to 100% without increasing staff. In 2016 LLR led a $26.5 This could be read through a negative lens.
For many years, we’ve been developing and investing in technology to deliver an end-to-end digital mortgage experience. Loanofficers receive title complexity decisions within seconds at the point of sale – so they can create a runway for more straightforward orders and focus resources on more complicated ones.
I can see why loanofficers, real estate agents, or buyers might push back on appraisers’ conclusions. Market value indexes, just like the other data we use in our analysis, such as marketing time, exposure time and inventory levels, is taken into account when we develop our professional opinions of value. Of course not.
The recent developments surrounding the Consumer Financial Protection Bureau (CFPB) have left many in the mortgage industry wondering what comes next. The Mortgage Bankers Association and other advocacy groups are working to push forward reforms to modernize LO compensation structures, RESPA , and servicing rules.
With so many people involved – including the appraisal desk, loan operations, loanofficers, underwriters, the IT/product team, borrowers and appraisal vendors – there’s room for error that could negatively impact the home buying experience. There’s no denying the complexity of the appraisal process.
When thinking about improving the efficiency of work that people are doing and that can’t be moved to technology, lenders often focus on allowing those people to focus (there are elaborate solutions, like workflow systems, and simple solutions, like not letting your loanofficers instant message your underwriters).
Appraisers are being told by their AMC clients and loanofficers to appraise these as residential properties. The community is part of a wider development in Georgetown, Texas called Wolf Ranch. Moat and Waterfall at This $880K Midcentury Modern Inspired Home in Vermont 4 bedroom, 3.5+ bath, 2,908 sq.ft.,
To be eligible for a reverse mortgage, homeowners must meet certain criteria set by the Federal Housing Administration (FHA) and the Department of Housing and Urban Development (HUD). The reverse mortgage process typically begins with a borrower contacting a loanofficer who specializes in reverse mortgages.
It’s also, to be clear, somewhat about revolutionizing and modernizing the appraisal process by enabling property data collection to be performed by non-appraisers. And then that triggered a whole series of developments for us. There’s 500,000 loanofficers. Kenon Chen. Jeff Allen. It’s going to be fun.
Senior administration officials claim that rooting out “modern-day redlining” is a top priority. And in a March interview with former president Bill Clinton, Department of Housing and Urban Development Sec. Housing and Urban Development Secretary Marcia Fudge. The law also required banks to lend within their communities.
Planet Home Lending announced Thursday that it has hired Candice McNaught as senior vice president of business development and strategic initiatives for its distributed retail channel. In her previous role at Supreme, McNaught oversaw 200 branch locations and a national network of more than 700 loanofficers.
Candice McNaught has been appointed SVP ofBusiness Development and Strategic Initiatives for the Distributed Retail channel by Planet Home Lending. In her previous role, McNaught managed a nationwide network of approximately 700 loanofficers and 200 branch sites. To read more, click here. To read more, click here.
Few things terrify lenders more than the arrival of a manila envelope from the Department of Housing and Urban Development ( HUD ) containing a redlining allegation. As some independent mortgage banks have found out, a modern-day redlining allegation does not need to prove intentionality. Premium product.
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