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Annual property insurance costs for mortgaged single-family homes rose by a record $276 (or 14%) to $2,290 in 2024, per the latest Intercontinental Exchange (ICE) Mortgage Monitor Report released Monday. of borrowers switched insurance providers in 2024, up from 9.4% ICE loan-level data shows that a record 11.4%
ACES Quality Management has released its quarterly ACES Mortgage QC Industry Trends Report, covering the third quarter of 2024, an analysis of a post-closing quality control data derived from ACES Quality Management & Control software. Click here for more on the Q3 ACES Mortgage QC Industry Trends Report.
Fast-growing mortgage servicing platform Valon has secured $100 million in a Series C funding round, the company announced this week. It is utilizing a cross-selling strategy that offers additional products to its existing customers in an evolving mortgage landscape.
Artificial intelligence (AI), predictive underwriting , and blockchain technology are becoming more common in todays real estate industry. However, long-standing challenges still persist within foreclosure firms, title and escrow companies, and title insurance underwriters. You can’t be fully dependent on technology.
American homeowners are struggling to keep up with unpredictable natural disasters and the rising homeowners insurance premiums that follow them. Residents are more willing to move if it means avoiding high insurance rates, according to a new study from mortgagetechnology company Maxwell.
The mortgage servicing landscape has long been a crucible of change, where today’s decisions lay the groundwork for the industry’s future. Formed in 2023, the MSEA is a platform for nurturing the next generation of mortgage leaders. Here’s what our panel of mortgage servicing executives had to share.
Intercontinental Exchange (ICE) launched a mortgageinsurance (MI) center on its Encompass loan origination system, part of the company’s vision to to become a ‘ life-of-loan’ platform.
Tomo Mortgage on Tuesday announced the closure of $20 million in Series B funding that was led by three existing investors and a new participant. The funding round was led by prior investors Ribbit Capital , DST Global and NFX along with new investor Progressive Insurance.
In honor of the 2025 Tech100 nomination season, HousingWire asked leaders from last year’s Tech100-winning companies including Flueid , Vesta , Gridbase and MyHome, a Williston Financial Group Company to share some examples of how their technology has helped transform a traditional real estate and mortgage process.
The Tech100 Mortgage award recognizes the most innovative and impactful organizations driving the mortgage industry forward. More than just an accolade, this award highlights organizations that are transforming the housing sectorenhancing efficiency, transparency, and accessibility in ways that reshape the future of mortgage lending.
The Tech Trendsetters are made up of the top product and technology leaders who have been essential in bringing innovative tech solutions to market for mortgage and real estate clients.
With flood insurance premiums commanding ever-higher prices, a U.S. senator recently described a hardship faced by a constituent who endured challenges with higher flood insurance costs while keeping a reverse mortgage in good standing. And Cassidy shared another story of a constituent with a reverse mortgage on his home.
Property insurance costs for mortgaged single-family homes increased a record $276 or 14% to an average of $2,290 per year in 2024, according to ICE MortgageTechnologys latest Mortgage Monitor report. percent of borrowers switched insurance providers in 2024, up from 9.4 Among the major U.S.
After years of high interest rates, and price spikes, mortgage lenders are optimistic heading into 2025. Fannie Mae predicts a 28% increase in mortgage originations to $2.1 The Mortgage Bankers Association (MBA) also predicts that total origination volume will increase by 28.5%
National MortgageInsurance Corporation (National MI) announced on Tuesday its integration with Vesta , a loan origination system (LOS) provider and software-as-a-service company. “We are thrilled to add Vesta, a leading SaaS company building next-generation LOS technology, to our list of integration partners.”
Insurance brokerage platform VIU by HUB has partnered with mortgage servicing company Valon to provide homeowners with streamlined insurance options amid rising costs. Through the partnership, Valon customers will have access to instant insurance quotes from multiple carriers along with guidance from licensed agents.
The Federal Housing Administration (FHA) on Thursday announced that it has issued a waiver to a requirement that FHA-approved lenders flag rejected loans in the FHA Connection (FHAC) system, an effort the agency says will improve access to government-insuredmortgage financing for qualified borrowers.
Potential homeowners should be able to handle this confusion in a world where technology and digital tools rule customer service. Zillow Home Loans — the platform’s affiliate mortgage lender — pushes the future of financing. The mortgage process is complex — but it doesn’t have to remain that way.
Intercontinental Exchange (ICE) completed its acquisition of Black Knight Tuesday, making the combined company the biggest player in the mortgage tech space. I sat down with Tim Bowler, president of ICE MortgageTechnology, a business unit of ICE, to talk about the company’s mortgage automation strategy — and what keeps him up at night.
year-over-year increase in title insurance premium volume during the third quarter of 2021 according to ALTA’s Market Share Analysis , published on Thursday. During Q3 2021, the title insurance industry generated $6.8 billion in title insurance premium, marking the industry’s best quarter on record. Presented by: ServiceLink.
Why is homeowners insurance so expensive in the Upper Midwest? The growing prevalence of extreme weather events and the high cost of construction are pushing property insurers to significantly raise their prices , even in places you might not expect. More: catastrophic weather events are “a key driver” of the premium hikes.
Rocket Companies will soon shut down Rocket Pro Originate , a mortgage origination platform for real estate agents, insurance agents, tax professionals and other financial professionals who are also licensed to originate mortgages. In fourth-quarter 2023, Rocket reported $10.3
Grid151 , a technology products provider for the mortgage and real estate industries, has acquired Simply Secure Sign , an eClosing technology platform, the company announced Tuesday. Up until today, Simply Secure Sign’s largest user was Mortgage Connect, L.P , a prominent national provider of mortgage services.
Customer engagement platform Total Expert is launching a marketplace this week for financial institutions to build their marketing technology stack. Customers, including banks, lenders and insurance companies, will have access to data and action systems under “one roof.” That is not our model,” Welu said.
For too long, the mortgage industry has used “the money gun” to deal with problems. Nowhere is that more evident than in the cost to manufacture a mortgage, which was more than $11,600 in the second quarter. It’s a challenge for the industry because of the high fixed-costs in manufacturing a mortgage, they said.
Technological Advancements in Real Estate: A look at emerging technologies with the potential to reshape real estate transactions and property management. Stone also served as Vice Chairman of Metrocities Mortgage, and as Chairman of The Stone Group, an Austin, Texas-based tenant-represented brokerage company.
Beyond just offering homeowners 24/7 self-service capabilities to handle day-to-day loan maintenance activities, e.g. making a mortgage payment or reviewing taxes, insurance, and loan details, the app also allows customers to better explore and manage their housing wealth. Mortgage servicing isnt just about maintaining portfolios.
John Rogers is a well-known name in the world of mortgage and real estate data analysis. We have amazing data scientists who are building out new models — from reducing premiums on wildfire insurance in California to using image analytics so that an appraiser can capture the appraisal in real time and use it for quality assurance.
Multiple listing services (MLSs) have a wealth of data, and one technology company thinks it has found an innovative way to use it. Real estate data company StreetWire has partnered with Northern California MLS MetroList to produce an insurance product called Home Value Lock.
HousingWire recently spoke to Tom Kriby, vice president of client development and partnerships at Westwood Insurance Agency, about how working with an insurance agency can simplify the closing process for their customers, even in times of interest rate uncertainty. Take insurance, for example.
The title insurance industry is often bemoaned for being antiquated and making minimal changes, but that has not been the case for the past 12 months. The program would grant certain mortgage lenders a waiver on title insurance requirements for loans sold to Fannie Mae and will be rolled out this spring, according to Politico.
Department of Housing and Urban Development (HUD) is considering employing cryptocurrency and blockchain technology to monitor the employment of agency grants, which some staffers believe could be a trial run for wider deployment of the technology across the federal government. Blockchain technology has been around for 15 years.
United Wholesale Mortgage (UWM) has launched a new service to handle all the title work for its brokers on refinancings. mortgage lender announced the service on Thursday during an annual meeting with its broker partners in Pontiac, Michigan. The top U.S. Department of Veteran Affairs (V.A.) loans but only for refinances.
Prior to the advent and widespread use of title insurance, before taking title to a property, the buyer required that the title be free of any rights, interests, liens or encumbrances of others for which the buyer would be responsible for. We haven’t seen any real data based on the conversation that it is going to save money.
The rate of critical defects in mortgage loans post-closing decreased by nearly 17% in the third quarter, ending the quarter at 1.51%, according to ACES Quality Management Mortgage QC Trends Report. However there was a sharp rise in insurance defects compared with the previous quarter. 65% in the second quarter.
Intercontinental Exchange (ICE) introduced MSP Digital Experience (MSP DX), a conversational user interface designed to interact with the company’s leading mortgage servicing system, MSP. MSP DX provides servicing professionals with an intuitive, dynamic and conversational approach to working within MSP.
A week after announcing a pivot in its business strategy , publicly traded title insurance firm Doma announced the sale of its retail operations in Florida on Tuesday. Doma’s Florida operation was purchased by Near North Title Group for an undisclosed sum. Near North Title Group purchased Doma’s Midwest locations in July.
New York-based digital lender Better Home & Finance Holding Company has partnered with information technology consulting company Infosys on a mortgage-as-a-service platform. Better’s mortgage as a service currently consists roughly 20% of its revenue and the lender aims to grow this business line, Garg said.
Incenter Lender Services , a group of companies that help nonbank and depository mortgage lenders nationwide, announced this week the hiring of two new vice presidents. I develop, direct, and provide strategic vision for sales and marketing plans for mortgage products and services,” according to her bio.
Taylor Stork, left, and Paulina McGrath of the Community Home Lenders of America lead a discussion at HousingWire’s IMB Summit in Dallas (Photo courtesy of Willie & Kim Photography) For too long, the mortgage industry has used “the money gun” to deal with problems. And that has consequences. I don’t have an answer.”
Real credited its technology offerings and business model for the explosive growth in agents. Real also added head count to its nascent mortgage business. This allowed the company to grow its mortgage revenue from $1.2 Real CEO Tamir Poleg also provided an update on the companys technology offerings.
Milo , a Miami-based digital lender, will soon offer a crypto mortgage to clients with digital assets. If a client qualifies, they will receive a low interest rate 30-year crypto mortgage, the company said. And unlike conventional mortgages, there are no down payment requirements.
In an industry where managing a web of technology vendors to support LO’s sales and marketing needs has become overwhelmingly complex, inefficient and creates unnecessary security and compliance risks, CANDID is quickly becoming a leader in transforming how mortgage lenders operate.
Buffalo, New York-based mortgagetechnology firm LenderLogix , a top provider of point-of-sale (POS) and automation software for independent mortgage banks , commercial banks and third-party brokers, announced Thursday that Ben Head will join the company as an account executive.
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