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Open Mortgage on Friday shut down its distributed retail channel and laid off more than two dozen employees. Those of you who have worked with us over the years have seen us operate in a profitable manner, and we will continue to do so with an increased focus on our TPO channel in advance of redeploying retail in the future,” he added.
Dallas -based Certainty Home Lending , an affiliate of Guaranteed Rate , named Shadi Kamran as its new national business development executive. The technologically advanced mortgage platform empowers loan officers to serve both customers and business partners with ease and excellence. “His
Tech-fueled retail mortgage lender InstaMortgage has merged with mortgage broker shop All Cal Financial , a rare example of a top-performing brokerage switching channels. Black, a licensed mortgage loan officer and broker, will also lead product development, tech partnerships and sales growth.
Cloudvirga reports that it has completed an enhanced integration for its Horizon Retail POS product and Encompass Partner Connect , the latest API framework for mortgage technology from Intercontinental Exchange (ICE).
The Home Depot Foundation — the philanthropic arm of the home improvement retail conglomerate — announced that it is investing $10 million for the purpose of enabling older military veterans to age in place in their homes. Smart-home technology is becoming an increasingly important component of aging in place.
RoundPoint Mortgage has added three new senior executives to its management team, as it prepares to ramp up its retail operations. RoundPoint also added a new chief administrative officer, Joseph Gormley, who formerly held senior positions at the department Housing and Urban Development. Freedom is one of the country’s biggest lenders.
Top-25 retail lender Movement Mortgage struck a deal to acquire Massachusetts-based retail firm Mortgage Network , multiple sources told HousingWire. . We want to grow,” Casey Crawford , a former pro football player who founded distributed retail nonbank Movement in 2008, said in a statement to HousingWire.
California-based nonbank lender Carrington Mortgage Services has invested in boosting the growth of its wholesale channel, with the latest announcements including a new loan processing technology and plans to increase the sales team. “We put a lot of effort and energy into developing a program to help brokers grow.
Dark Matter Technologies , formerly Black Knight Origination Technologies, is focused on mainly two things: the smooth transition to new owners, and lowering the cost to originate loans for lenders. Read on to learn more about Dark Matter Technologies’ plan for mortgage. Gagliano : We believe strongly in technology.
Editor in Chief Sarah Wheeler sat down with Chad Smith, president and COO of Better Mortgage , to talk about leadership, technology, and how they have pivoted their business strategy to meet the needs of this market. SW: Talking about technology, you guys made some big moves in 2024 with TinMan Marketplace and Betsy.
The brokers were in agreement that recruiting talent and maintaining strong partnerships will be key to not only brand development, but a lasting foundation that will continue post-pandemic. “So We’re not out building a retail person’s name. I mean we’re talking up to 30 years,” Nichols said.
Dark Matter Technologies , formerly Black Knight Origination Technologies, is gearing up to bring more lenders on to use its Empower loan origination system in 2024. Read on to learn more about how Dark Matter Technologies’ plans increase market share and utilize AI in its LOS.
Encompass by ICE Mortgage Technology is designed to enable users to manage their entire lending workflow in one place, from the customer’s initial point of thought through investor delivery. The LOS should serve as the central hub of the tech stack, allowing lenders to orchestrate their entire business from a single system of record.
Part of the strategy, she said, is to remain focused predominantly on the retail side of the business. “We We decided going forward that we’re going to focus 100% on retail ,” she said. “We Schmidt also talked about the need to invest in the company’s technology platform to better enable its people.
New Jersey-based Homebridge Financial Services will lay off 139 employees in June, three months after the acquisition of its retail division by CMG Mortgage, Inc. In addition, the company’s CEO, Peter Norden, will act as executive advisor to CMG’s retail division to ensure a successful transition. mortgage lender by volume last year.
During the 10-minute conversation, Pieklo explores his new focus on developing AFR’s wholesale lending strategy, the competitive landscape of the mortgage market, and the company’s unique approach to differentiating itself from other big names in the wholesale space. Pieklo: We have to fight tooth and nail for every single loan.
Software development company Blue Sage Solutions has launched a new servicing platform that merges loan origination and servicing functions using API-based technology.
Boston-based fintech Stavvy announced a new integration using the latest Encompass Partner Connect Application Programming Interface (API) framework from Intercontinental Exchange (ICE) for mortgage technology. “It allows us to provide for a more seamless, both hybrid and RON closing experience with little to no human intervention.”
Candor Technology CTO Eric Rawlings Candor Technology , a platform that uses artificial intelligence (AI) technology to automate loan underwriting and quality control (QC) for mortgage lenders, has appointed Eric Rawlings as its new CTO. The post Candor Technology Names New CTO first appeared on The MortgagePoint.
Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success. In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations.
Department of Housing and Urban Development (HUD) — have been restored as of Monday morning following a global tech outage on Friday. In addition to government computer systems, ICE Mortgage Technologies confirmed for HousingWire on Friday that its Encompass loan origination system was impacted by the outage. As of 10 a.m.
Troy, Michigan-based appraisal management company (AMC) Class Valuation announced on Wednesday that it has acquired fellow AMC Valuation Connect , formerly a subsidiary of mortgage technology company Mortgage Connect LP. Terms of the deal were not disclosed.
With Blueprint Builder, triggers and business rules can be configured to align the borrower experience to operations processes (such as credit score-based rules), and to support multiple business units or channels, including retail, direct-to-consumer and wholesale. In the current environment, a rigid, static technology stack can prove fatal.
Texas lender Mid America Mortgage rebranded as Click n’ Close to expand into the mortgage technology industry following the sale of the majority of its retail lending operations. Click n’ Close will retain retail operations related to its reverse mortgage and lending business for Native Americans, the company said Monday.
Pennymac Financial Services has made changes to its technology leadership, creating a new role focused on digital innovations, the company announced on Tuesday. He had a crucial leadership role in Pennymac’s mortgage fulfillment, production business technology and servicing divisions.
A former Quicken Loans executive, Booth has over 15 years of experience working in state and federal government bodies, focusing on transforming the mortgage industry through technology. Stephanie Gibbons has been promoted from AVP and underwriting manager of distributed retail to VP, national underwriting manager, distributed retail.
“The transition just became along the lines of the team’s ability to have a product suite and technology.” In February, it announced the hiring of James Hecht , former head of production and executive vice president for national retail lending at Newrez , as its CEO.
He wondered how a smaller retail-and-wholesale shop could possibly compete with the likes of Rocket Companies , with massive budgets for technology and an ability to scale and expand margins. If I read Quicken ‘s materials, if I read on loanDepot’s materials, the general pitch is technology. Is this futile?
According to Samuel Bjelac, Carrington’s senior vice president of national sales for third-party origination, Winokur has a reputation for driving revenue and market share growth with a unique combination of aligning brand development, strategic communications and tactical execution.
HousingWire recently sat down with Insellerate CEO Josh Friend to discuss that very question and what strategies retail lenders should look to adopt from direct-to-consumer lending. HW: What are some strategies that retail lenders should look at adopting from direct-to-consumer lending?
Desmond Smith: There are two ways to get a mortgage — wholesale or retail. Retail lending is when you walk into a bank branch or go to an online lender, and they help you get a mortgage. DS: The growth of the channel has been significant, especially in terms of technology. HW: How has wholesale changed over the past 2–3 years?
A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend. I hadn’t developed a network for mortgage lending with Realtors,” Woodward said about his work at Interfirst in Indiana.
FTC sued ICE earlier this year alleging the two top mortgage technology providers would drive up costs, reduce innovation and limit lenders’ choices for mortgage origination tools. In parallel, ICE plans to develop its own PPE to provide additional options to lenders and partners, ultimately lowering the cost for the consumer. “We
Candice McNaught has joined Planet Home Lending , a national mortgage lender, servicer, and asset manager, as senior vice president, business development and strategic initiatives for the distributed retail channel. She led recruiting initiatives that grew branch footprints, enhanced profitability, and elevated team performance.
Online retail lender loanDepot raised just $54 million by offering 3.9 LoanDepot, the second-largest retail-focused IMB in the country, had initially planned to raise about $362.5 But it noted that its retail strategy is more developed. million by selling 17 million shares at $21 in an IPO.
In his new role, Hogle will manage the firm’s retail operations, overseeing growth and development of retail sales and the production network, while supporting the firm’s business channels. Hogle said he’s “delighted and honored” to join Cherry Creek’s “thriving retail organization.”.
Ultimately, this development will empower our members to better serve their clients and grow their businesses.” “This integration promises a seamless transition and enhanced technology, ensuring our members can continue working efficiently and effectively without disrupting their local MLS system.
HW Media CEO Clayton Collins and Scott Happ, president of Secondary Marketing Technologies at Black Knight, discuss Black Knight’s acquisition of Optimal Blue and what the industry can expect from the company’s new Secondary Marketing Technologies division. How lenders will benefit from Black Knight’s acquisition of Optimal Blue.
Hubzu is an end-to-end asset management platform for residential foreclosure, short sale, REO, deed in lieu, CWCOT and retail property auctions. It’s reflective of our commitment to invest in technology and continuously improve the Hubzu marketplace.”. Since 2009, it has facilitated the more than 4.5 and Denver markets.
In concert with the brand unification, we also developed and introduced a singular company purpose and shared values,” Sieffert said during the earnings call. The go-to market strategy of the company’s retail lending division was revised and includes stepping away from “strategies that have been less fruitful over time,” she explained. “We
Intercontinental Exchange (ICE) Mortgage Technology reported an improved adjusted operating income of $193 million in the fourth quarter of 2023, up 98% from one year earlier and fueled by record sales of its loan origination system (LOS) Encompass. Full year mortgage technology revenues were $1.3 billion, up from $1.1 billion in 2022.
Retail Branch Manager. SVP, Agent Engagement & Development. ICE Mortgage Technology. EVP, Retail Lending. VP of Product Development. See below for HousingWire’s 2021 list of Rising Stars, and click through for full profiles on each winner that detail their impressive accomplishments. Company Name. Adam Greene.
Built Technologies. Chief Technology Officer. SRE Technologies. President, Retail. Executive Vice President of Retail Lending. Chief Technology Officer. ICE Mortgage Technology. Chief Business Development. Consolidated Analytics. Benjamin Madick. Co-Founder and CEO. Matic Insurance. Dan Snyder.
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