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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.
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.
As the mortgage world continues to see rapid tech advancements, staying ahead of the curve requires more than just keeping up — it demands leading the way. Companies like CLARIFIRE — a multi-year Tech100 Mortgage honoree — that delivers advanced automation solutions to servicers. Click here to nominate a tech organization.
When individual mortgages are originated by lenders like banks or credit unions , they may bundle groups of these mortgages together into financial vehicles called mortgage-backed securities (MBS) that are then sold to investors on a secondary market. If too many mortgages default, the MBS can lose significant value.
Santa Ana, California-based mortgage services and data firm Consolidated Analytics announced on Friday that it has acquired the assets of investor claims and loss-analysis company Investor Claim Solutions (ICS). The deal includes both proprietary technology and personnel, according to the announcement. “By
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%
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 mortgage industry today demands speed, accuracy, and satisfied customers. ICE MortgageTechnology presents their solution that also serves as an overhaul of the home financing process. This digital mortgage setup focuses on turning manual tasks into automated ones.
Mortgagetechnology startup Novaprime is making its public debut with the launch of an AI-powered loan platform that it claims allows lenders to sell loans to investors in just days, instead of weeks, all with a high degree of accuracy. Novaprime is starting with post-close quality control functions and working backwards.
One of the most crucial parts of underwriting is making sure a prospective borrower has a reliable source of income that enables them to pay back their mortgage loan, according to Khristi Waters, Senior Director of Single-Family Credit Risk Policy and Li-Ning Huang Principal of Economic and Strategic Research Market Research at Fannie Mae.
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.
Optimal Blue on Monday announced three major product releases — the expansion of its artificial intelligence (AI) assistant suite, the introduction of Scenario Optimizer, and the free availability of Investor Pricing Insight to investor clients. ” The announcements were made at MBA Annual in Denver.
Assessing key performance indicators and operations during current industry headwinds is a great way for mortgage lenders to set themselves up for success now and in the future. Every lender and investor has their own unique approach to doing business and their own mix of channels they utilize.
E-closing technology is a game-changer for mortgage lenders in optimizing their secondary market strategies, a research report from Snapdocs shows. This research also validated that lenders see a portfolio benefit of $115–$2832 per loan when digital closings are adopted at scale.
Verifications provider Argyle announced an integration with the Exchange, an interconnected network of mortgage-specific service providers available to customers of the Empower loan origination system (LOS) from Dark Matter Technologies. The mortgage tech company has made a series of integrations with lenders in the past few months.
A new report from the Government Accountability Office (GAO) concluded that while institutional investors may have contributed to rising home prices since 2009, the actual impact they have had on homeownership opportunities is more difficult to assess.
Fintech firms Rocktop Technologies and LiquidFi on Thursday announced a milestone in their business partnership that was formed earlier this year. At the same time, LiquidFi — an asset tokenization platform for mortgageinvestors — has used its patented technology to create digital assets on more than $7.7 billion in UPB.
Figure Technology Solutions (FTS), the parent company of Figure Lending LLC , took another step this week to become a public company, just one week after announcing a reorganization of its enterprise structure. On Wednesday, the company said it “has confidentially submitted a draft registration statement” with the U.S. after four years.
Dark Matter Technologies is breaking into the mortgage servicing market with the launch of its Dark Matter servicing platform. CMS Servicing was formerly a part of Mortgage Builder, which housed an LOS and a servicing platform, acquired by the Perseus Operating Group (Perseus) of Constellation Software Inc.
Online real estate marketplace Auction.com announced Wednesday that it is launching SmartSale, a technology-powered option to foreclosure that lets distressed homeowners list and sell their property. For those who are struggling to repay their mortgages, the process aims to help them avoid foreclosure and retain their home 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 the meantime, states, RON providers and those putting the technology to use have stepped up to create a well-functioning status quo in the absence of federal guidelines, according to William Kooper, vice president of state government affairs and regulatory policy with the Mortgage Bankers Association (MBA). The two are very similar.
USRES: Real Estate, Mortgage Portfolio Services, and Support USRES offers various real estate and mortgage portfolio services to help professionals optimize their operations and improve revenue streams: 1. These educational tools cover various aspects of real estate transactions, compliance, and RES.NET’s technology solutions.
In addition, we expect to evaluate opportunities relating to digital infrastructure, including opportunities at the convergence of infrastructure and technology. Rithm owns multichannel mortgage lender and servicer Newrez. It has made a slew of acquisitions in the credit and mortgage servicing sectors over the past two years.
In a changing real estate market , mortgage lenders face increasing demand. If high mortgage rates and increased liquidity management arent challenging, then regulatory changes, operation inefficiencies, and economic uncertainty are enough. Digital tools and technology are only the tip of the spear regarding SitusAMCs solutions.
Still, despite the gloomy news of late for SFR and fix-and-flip investors, some industry experts see better fortunes ahead in 2024 for both sectors. “We In recent congressional testimony , Mortgage Bankers Association (MBA) chief economist Mike Fratantoni pointed out that the housing market is now extremely supply challenged.
The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. “They can add up to several percentage points of the total mortgage amount. . At least when it comes to redundancies with refinancings, that is.
Last week, business-purpose residential mortgage lender Dunmor announced that it received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. Would you say that the majority of these are smaller investors?
AI and data-led fintech company Pagaya Technologies named Sanjiv Das as president. Das spent six years as CEO of Caliber Home Loans — a NewRez -owned residential mortgage lending company — until January 2022. Das, a former CEO of Caliber Home Loans , will begin his new role on Oct.
With an eye toward the future, Thompson shared his insights on economic trends, budgeting strategies, and the pivotal role of data and technology in shaping the housing landscape. HousingWire: As a finance exec, how do you approach budgeting in a market where cost pressures, compliance demands, and technology investments are all increasing?
Optimal Blue has brought on Sara Holtz, former vice president of demand marketing and communications at ICE MortgageTechnology , as chief marketing officer (CMO). About 68% of the top 500 mortgage lenders in the country use the company’s products, according to Optimal Blue.
Mortgage capital markets technology firm Polly has raised $25 million to invest in research and development, product innovation and expansion, the company said on Tuesday. 8VC led the latest equity investment with participation from existing investors Menlo Ventures , Meritech , Khosla Ventures and Fifth Wall.
San Diego-based Guild Mortgage is the latest mortgage lender to announce the use of artificial intelligence (AI) to improve its operations through the launch of an in-house system. Other mortgage lenders have also launched AI tools to improve their operations. ”
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.
Rocket Companies , the parent of Rocket Mortgage , has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform. billion in volume during these six months, trailing only United Wholesale Mortgage ($60.7 Rocket originated $42.3
Mortgage lender Revolution Mortgage has partnered with Tavant, an AI-powered digital lending company, to integrate Tavant’s Touchless Lending product suite into Revolution Mortgage’s platform. The technology is designed to automate and streamline the underwriting and application processes, per the statement.
Quality control (QC) in mortgage servicing is a necessity in order to ensure that products and services meet quality standards and customer expectations. Steps to Avoid Risk What steps should mortgage servicers and subservicers take in order to identify and manage inherent servicing risks? Technology continues to advance.
Mortgage credit availability increased 1.4% on the Mortgage Bankers Associations (MBA) Mortgage Credit Availability Index (MCAI). The growth in credit supply was driven by greater investor appetite for ARM and cashout refinance loans. in February compared with January, rising to a score of 100.4
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.
How can today’s mortgage lending market be summed up in one word? For homeowners who purchased their property during COVID when mortgage rates were near 3%, the word “comfortable” may come to mind. Mortgage brokers and lenders should be salivating to beat traditional lenders and reach those borrowers.
They discuss the latest developments in the mortgage market, along with key dynamics and growth strategies for lenders as interest rates continue to fall. The conversation also covers cost-to-completion metrics, new technology and tactics strategies for making customers happy in today’s market.
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.
No one can know what, exactly, will change in 2025 for the mortgage servicing industrys quality control units, but experts agree there will be changes. For mortgage servicers, the challenge isnt just adapting to regulatory changes its managing the uncertainty and stress that comes with them.
Rithm Capital , which owns multichannel mortgage lender Newrez , built upon its success in 2023 with net income of $835 million in 2024. according to Inside Mortgage Finance (IMF). Rithm delivered strong and consistent performance in each of its core businesses, creating value for investors and shareholders. billion in Q4 2024.
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