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Top five reverse mortgage lender Finance of America (FOA) announced on Tuesday the hiring of two new executive leaders to modernize the companys digital and customer experience strategies. ” Sieffert previously indicated that a renewed effort around digital processes at the company would be a priority for 2025.
Modernizing systems, filling data gaps, and harmonizing across different federal insurance programs can help attract more lenders to this vital market. Click here for more on the report, Modernizing Manufactured Home Financing: Data, Automation and Program Improvements to Scale Affordable Home Ownership.
Real estate valuation technology company Clear Capital rolled out two application programming interfaces (APIs) that aim to make adopting and deploying modern valuation solutions easier, ultimately closing loans faster. The post Clear Capital launches APIs to make adopting modern valuations solutions easier appeared first on HousingWire.
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 February 2024, the company closed a $28 million Series D funding round from new and existing investors, including Gaingels , Moderne Ventures , QED Investors and Zillow co-founder Spencer Rascoff. Jared Kessler founded the fintech in 2016 and has since raised money from several venture capital firms.
“We have an investor who won’t do any deals in Florida or near major bodies of water.” Following the Surfside condo collapse in 2021 that killed 98 people, Florida lawmakers passed the Condo Safety Act , requiring condo associations to modernize buildings that had pushed off critical work for years. Condos are hard.
By doing so, ICE helps its clients cut down on mistakes, speed up workflows, and offer a modern lending experience that works better for both borrowers and industry professionals. This digital mortgage setup focuses on turning manual tasks into automated ones.
Editor in Chief Sarah Wheeler sat down with Kenon Chen, executive vice president of strategy and growth at Clear Capital , to talk about appraisal modernization and how technology is just part of the solution. SW: Is the end goal of appraisal modernization to replace appraisers? SW: What keeps you up at night?
As recently as a year ago, the New York-based firm closed a $28 million Series D funding round from new and existing investors, including Gaingels, Moderne Ventures, QED Investors and Zillow co-founder Spencer Rascoff. The platform shut down its operations in early December 2024. In 2018, the company raised $3.5
The partnership is expected to securitize Figure loans, forward-sell its bonds to investors and buy loans from originators, therefore opening up a liquid marketplace, the release stated. It will start with Figure HELOCs with future plans to buy other non-agency credit assets.
a Radian company, is paving the way for lenders, brokers, agents and investors looking to bring their businesses into the 21st century. Lenders and investors can use the Pyramid Platform to assist with their rental property inventory, from acquisition and rehab to rental management and resale all in one place. homegenius, Inc.,
Polly, a software-as-service mortgage-technology firm that operates a loan-trading platform , has raised $37 million through a new funding round, its third since launching in 2019 — bringing the total raised from investors to $57 million. The post Tech firm Polly bulks up to help modernize mortgage industry appeared first on HousingWire.
Servicing software improves efficiency and customer satisfaction Modern mortgage servicing software gives lenders an edge thats so efficient, it almost seems unfair. Servicers can automate critical tasks, such as investor reporting and compliance, to streamline workflows and position in-house servicers to win with speed.
Additional savings were linked to lower shipping and custodian fees, fewer lost or damaged notes, reduced delays in investor delivery, and decreased warehouse line costs. Eric McCall, VP at First Home Mortgage , emphasized the impact of Snapdocs’ eClosing technology on operational efficiency.
“Given the acceleration of our business and growing interest from investors in Pretium’s unique residential real estate ecosystem, we are focused on enhancing operational and strategic opportunities across the enterprise,” Pruzan said. Pretium confirmed that it also invested more than $2.5
Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Key non-QM products for 2025 Before 2025 continues, lenders should arm themselves with the right tools for tackling the market: Investor loans Investing is the vehicle to success for homeowners in the market. These loans go up to $2.5
Modern challenges meet modern technology In 2024, the mortgage industry was rife with challenges, from resource constraints to regulatory changes and the complexities of mergers and acquisitions. Building trust with partners, investors, and agencies requires proactive communication about risks and corrective actions, she said.
The reality is that modern mortgage operations run on multiple platforms loan origination systems, servicing software, payment processing tools, and customer relationship management systems. Digital loan applications, automated underwriting, and electronic closings have become standard practice.
These initiatives promote investor confidence both domestically and internationally while ensuring that more Americans have significant opportunity to obtain a home. Effective financial management, operational effectiveness, and strategic expansion are Ginnie Maes top priorities. This years $1.3
Initially, the platform used AI technology to help investors decide whether a property would be a good short-term rental property through platforms like Airbnb , and it acquired roughly 20 properties on its own. But unlike reAlpha, Modern Realty is much newer, having officially launched only three months ago.
It covers structural repairs (such as foundations and new roofs), modernization of kitchens and bathrooms, and energy-efficiency and climate-resiliency projects. Increased use of 203(k) mortgages will help modernize and revitalize homes, which supports affordable housing supply and strengthens neighborhoods.”
Investors included Blumberg Capital , Gaingels , Moderne Ventures , QED Investors , Viola FinTech , and Zillow founder, Spencer Rascoff’s venture firm 75 & Sunny. EasyKnock received $57 million in venture capital in February 2022.
Appraisal software company Reggora today announced the completion of a $30 million Series B funding round, led by returning investor Spark Capital. Other investors included Shine Capital , Greenpoint Partners , Boston Seed and 1984. ” The post Reggora gets Series B funding, eyes 2-day appraisals appeared first on HousingWire.
To help overcome these obstacles, Sagent has created its Dara Loss Mitigation platform as a solution that modernizes how homeowners and mortgage servicers address financial hardship. Unexpected financial hardships are an unfortunate but not uncommon challenge facing many homeowners.
Investors included Blumberg Capital , Gaingels , Moderne Ventures , QED Investors , Viola FinTech , and Zillow founder, Spencer Rascoff’s venture firm 75 & Sunny. Kreiger and Onder’s employees (numbering fewer than 10) will join EasyKnock, and Kreiger will serve as EasyKnock’s chief product strategy officer.
TTV Capital , Moderne Ventures , Erez Capital and other venture capital firms led the round of investment. We are thrilled to have such engaged and helpful investors join us in this round, and are more confident than ever before about our path forward,” James Rogers, co-founder and CEO of RealReports, said in a statement.
The end-to-end, real-time capabilities of Dara improve every point of the servicing industry for every stakeholder, including operators, consumers, investors, and regulators. Sagent has shifted the servicing paradigm with its launch of Dara. With deep roots in servicing, Dara is ready for everything.
In the modern mortgage market , mortgage rates are close to 7%, and the gig economy has pushed some borrowers away from trying to qualify for conventional mortgages. Or, perhaps a real estate investor is looking to finance a rental property using the rental income as proof of their ability to repay.
area, according to the Attorney General for the District of Columbia Allied Title & Escrow, LLC (Allied), KVS Title, LLC (KVS), Modern Settlements, LLC (Modern), and Union Settlements, LLC (Union) will pay $1.9 As investors, the real estate agents then received profit payments distributed based on their ownership interest.
To this end, Sagent believes servicing fintech must address three areas to set a modern data standard in 2023 and beyond: First, homeowners should be able to access their data easily and securely from any device to manage every aspect of their home-owning lives.
As investors with an explicit public purpose, the GSEs should put the highest priority on preservation of housing affordability for the longest possible time period,” the letter said. Enterprise also advocated for modernized applications of energy efficiency standards.
Mortgage-backed securities have cheapened to some of the widest levels in modern history in the past few weeks as global investors sell off government bonds and central bankers in Europe and the U.S. double-down on stiff monetary policy, according to Bloomberg.
Established in 2001, the Nevada-headquartered company delivers solutions to modernize the appraisal process, which may take days to weeks to complete, or even longer during booming markets. The APIs connect directly to existing systems through a single integration for lenders, investors and system providers.
You can also create messaging for your investor clients to inform them of possible investment opportunities. For example, your investor clients probably wont be interested in a first-time home buyers checklist, and you most likely wouldnt want to send information about 1031 exchanges to the first-time home buyers in your database.
Additionally, modern mortgage servicing software and Application Programming Interfaces (APIs) automate investor reporting and compliance and create a more efficient workflow, effectively allowing servicers to service loans in-house to maximize their advantages. Why should lenders retain servicing?
that helps low down payment borrowers realize homeownership while protecting lenders and investors against losses related to a borrower’s default. Its investors include Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures, and Zigg Capital.
Thankfully, online tools are built specifically to help new investors determine how much to charge for rent, find and screen tenants, and perform all the other tasks of owning rentals. In a modern world, these old-school methods are time consuming, risky, and turn tenants away. Among those 10.6 Managing tenants is hard.
million seed funding round in 2018 that included $100 million in new debt funding from investors including Montage Ventures , Crestar Partners and Blumberg Capital. The platform closed a $3.5
Investor activity : Institutional investors purchasing single-family homes for rentals have reduced inventory for individual buyers. A modern solution for an evolving market The American Dream of homeownership is at risk but adopting longer mortgage terms could restore that dream for millions of middle-class Americans.
Other investors included Rotor Capital , The Mortgage Collaborative Emerging Technology Fund , Prudence Holdings and existing investors including Anthemis Group , Route 66 Ventures , and Sovereign’s Capital. Digital mortgage and fulfillment platform Maxwell has raised $16.3 The round was led by Fin VC and TTV Capital.
The Series C was led by Addition , venture capitalist and investor Lee Fixel’s new fund. Additional investors joining the round include Jordan Park , Renegade Partners , Green Point Partners and the Witkoff Group , along with some notable individuals such as Jackie Reses, Zander Lurie, Dan Goldsmith and Lowell Putnam. “The
Pacaso is a website that has home listings available for purchase on a timeshare basis, “modernizing the decades-old practice of co-ownership.” VC investor , and she has financed other L.A. Rascoff in October started the company with Austin Allison, the founder of dotloop, which Zillow bought in 2015. Settle is a prominent L.A.
California-based Anchor Loans, founded in 1998, provides capital for professional residential real-estate investors through bridge and construction products. “We are seeing a significant increase in the investments required to upgrade today’s aging homes and modernize our infrastructure,” said Mullen in a statement.
The massive popularity of services like Zelle challenges many lenders’ entrenched belief that consumers aren’t “ready” for aggressive modernization of their financial transactions. Direct-source data holds the key to limiting lenders’ and investors’ risk exposure. If consumers aren’t holding us back, then who or what is?
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