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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. “These executive appointments are crucial for Finance of Americas objective to redefine the reverse mortgage experience. .”
ICE Mortgage Technology presents their solution that also serves as an overhaul of the home financing process. 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.
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.
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. Using automated valuation models “leads to relatively lower racial gaps,” according to Freddie Mac. .
They’ve built great technology on a massive scale. It’s time for modernization, Krishna said. That’s going to require technology. Rocket and Mr. Cooper, which each have their own technology platforms, need to be integrated and also mesh with Redfins technology (assuming that both deals close).
Today, while the mortgage industry has the technology to support this, we’re still in the early stages of determining how it should be used. With the advances we’re seeing in Artificial Intelligence, Machine Learning and Robotic Process Automation, we have become experts at configuring our technology to meet the changing needs of lenders.
Technology platform Figure , which powers a liquid, blockchain-based marketplace for financial products, and global investment firm Sixth Street today announced the formation of a new joint venture vehicle in which Sixth Streets asset-based finance platform has committed to invest $200M of equity.
Snapdocs , a provider of digital mortgage closing solutions, in partnership with Falcon Capital Advisors , has released research showing that eClosing technology provides lenders with a pricing advantage of up to 10 basis points. The findings highlight the transformative potential of eClosing technology.
In this context, ACES Quality Management s auditing technology has emerged as a pivotal tool for servicers seeking to enhance their servicing QC processes and adapt to an evolving regulatory landscape. Building trust with partners, investors, and agencies requires proactive communication about risks and corrective actions, she said.
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?
Multi-year HousingWire Tech100 winner Built Technologies , a construction finance software and construction payment technology company, closed an $88 million Series C funding round. The Series C was led by Addition , venture capitalist and investor Lee Fixel’s new fund. and Canada.
Technology plays a crucial role in servicers’ ability of servicers to support their borrowers in this challenging time. And servicers using Sagent’s LoanServ haven’t missed a beat tracking all borrower and investor obligations and payment processing — even if payments aren’t actually received from borrowers in forbearance.
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.
Servicing teams must manage shifting delinquency rates, regulatory demands that may pivot with each new administration, and ever-increasing operational costs while keeping their fingers on the pulse of the modern consumer and advancing technology. Providing guidance and support during this process will be crucial for servicers in 2025.
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.,
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.
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. Brokers that are equipped with Acra Lendings non-qm products, technology, and team can serve borrowers where traditional lenders simply cannot.
Yet many lenders still struggle with a critical challenge: getting their various technology systems to work together seamlessly. The reality is that modern mortgage operations run on multiple platforms loan origination systems, servicing software, payment processing tools, and customer relationship management systems.
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. Sagent’s platform represents a significant advancement in hardship resolution technology.
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 tech solution giving community lenders an advantage.
In addition, Balance Homes CEO and co-founder Judd Schoenholtz will become EasyKnock’s chief revenue officer (CRO), while the other co-founder Aaron LaRue, will become chief technology officer (CTO). “We We are thrilled to bring Balance Homes’ unique co-ownership product, technology and team into EasyKnock,” Schoenholtz said.
With the rapid improvement of AI technology coinciding with the business practice changes outlined in the NAR settlement, many in the proptech industry believe now is the right time for the rise of the AI agent. But unlike reAlpha, Modern Realty is much newer, having officially launched only three months ago. and even worldwide.
HousingWire connected with Soderstrom as he shared the key moments that shaped his career, advice for industry newcomers, and his vision for the future of real estate technology. HousingWire spotlights standout individuals aged 40 and under who are driving meaningful change in mortgage and real estate.
Stavvy, a Boston-based fintech, announced Monday that it landed a $40 million Series A funding round led by Morningside Technology Ventures. How modernized servicing creates customers for life. Presented by: Sagent Lending Technologies. The funding caps a period of intense growth period for Stavvy.
Building the future of mortgage servicing technology is about granular, nuanced innovation — knowing what changes must happen and when, and executing with no mistakes across scale operations where every tiny detail is highly regulated. And its product and customer success teams have responsibility for sales and growth.
Tim Bowler, the president of ICE Mortgage Technology , appreciates a good analogy. Treasury official says that the mortgage technology giant’s integration of Black Knight isn’t dissimilar to building a rail line. But MSP, the flagship servicing technology engine acquired in the $12 billion Black Knight deal, runs on 2.01-meter
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. SW: How do you think about technology and prioritizing what to do next? What’s changing there?
The technology integration enables lenders to obtain price quotes and order National MI’s real-time, risk-based mortgage insurance through its Rate GPS tool instantly without leaving the Vesta LOS platform. Its investors include Andreessen Horowitz, Bain Capital Ventures, Conversion Capital, Index Ventures, and Zigg Capital.
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.
Real estate valuation technology company Clear Capital will cut 27% of its workforce across its offices in the U.S. 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.
However, the advent of new digital technologies is creating change by seamlessly connecting these disparate elements, offering a smoother, more integrated experience for both lenders and homeowners. At the core of this transformation is the ability of mortgage bankers to adopt a modern, digital lending platform built within the cloud.
In his new role, Kueh will lead the company’s product strategy, innovation roadmap and technology investments. Kueh said the real estate industry is “ripe” for a transformation, one in which modern design can be merged with mobile, cloud, AI and machine learning technology to improve customer and agent experiences.
In the modern mortgage landscape, quality control (QC) stands as a critical pillar supporting the industry’s integrity and stability. As market conditions fluctuate and regulatory scrutiny intensifies, lenders must adopt a comprehensive approach to QC that goes beyond compliance checkboxes.
Mullen explains that in the 1980s, investment firms focused on securitizing small assets to make them available for institutional investors. He also mentions Pretium’s evolution from targeting single-family rentals to other assets, with a greater focus on technology and operational efficiency to better serve landlords and tenants.
At best, it offers a trailing indicator of what consumers expect from the homebuying experience, including their comfort level with technology and their expectations around transaction speed and data privacy. Consider, too, that the pandemic has given consumers a big push when it comes to expanding their technology comfort zones.
“What we did was we effectively prepared the ground of a completely new cloud-based platform using moderntechnology, using AI workflow automation,” Sagent chief technology officer Uday Devalla said in an interview. ” The executives said Sagent will provide servicers with the ability to customize the platform.
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.”
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?
ConsumerDirect Mortgage rebranded itself to Real Genius and announced the launch of a modern mortgage application platform to simplify a borrower’s experience. Real Genius, a division of FirstBank , one of Tennessee’s largest community banks , said that its application platform will provide borrowers with rate and cost transparency.
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. TurboTenants property management technology solutions can prevent that. But, like all things in life, profit can dwindle in the face of common issues.
said during the firm’s fourth-quarter earnings call with investors last Thursday. Looking ahead to 2024, the century-old firm says it is looking to modernize through improved technology and automation. Our full year premiums and fees reflect those market conditions and were down around 33% compared to 2022.”
Accurately predicting housing trends, mortgage rates , technology , elections, the impact of the broader economy , or how consumers will behave tests the best of us at some point in our career. Technology also played a significant role in readiness, delivering hardship relief to consumers through an efficient and effective experience.
Ronald Chillemi has been appointed Chief Legal Officer (CLO) and Corporate Secretary of Figure Technology Solutions, Inc. Ron Chillemi, Chief Legal Officer (CLO) and Corporate Secretary of Figure Technology Solutions, Inc. “We He will oversee the legal and compliance departments of the business in this capacity.
The rental real estate space is built on human relationships between owners, investors, vendors and residents. These flexible services can attract and retain a modern set of residents who are used to flexible models and digital payment options on their favorite retail sites and online banking platforms.
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