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Mortgage and title clients are undergoing a significant transformation with the shift from Encompass Software Development Kit (SDK) to Encompass Partner Connect (EPC). This change driven by ICE MortgageTechnologys updated standards promises enhanced efficiency, cost savings, and future-proof workflows.
Mortgage tech firm Ocrolus has introduced Inspect, a new solution within its artificial intelligence -driven mortgage document automation technology, which the company said will improve efficiency and scalability in loan origination. Currently, Ocrolus supports more than 95% of mortgage document types.
Baltimore-based private mortgage lender Dominion Financial is joining the AI movement. On Monday, the company announced the addition of two artificial intelligence-powered assistants to help real estate investors and mortgage brokers. Harvey will assist real estate investors while Donna is for mortgage brokers.
In the modern mortgage industry, lenders are not just setting themselves apart on who has the best Super Bowl ad or the biggest branch footprint, but increasingly also on their approach to technology. This article originally appeared in the January 2025 edition of MortgagePoint magazine, online now.
At the beginning of 2024, mortgagetechnology company LoanPASS was announced as a technology partner for reverse mortgage lender Smartfi Home Loans. The lender chose LoanPASS to provide its software-as-a-service (SaaS) product and pricing engine in its reverse lending operations.
The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology. PACE borrowers were also more likely to fall behind on payments for their first mortgage compared to those who didnt use the program.
Today, A&D Mortgage announced the official closing of its acquisition of the wholesale and non-delegated correspondent mortgage business from Mr. Cooper Group. Cooper previously acquired the wholesale and nondelegated mortgage business assets as part of its Flagstar Bank transaction in November 2024.
Top 10 mortgage lender Rate — previously known as Guaranteed Rate — announced a new promotion on Wednesday. The company named veteran mortgage professional Connie Lindsay as its senior vice president of mortgagelending in Washington state. Most recently, Lindsay served as a mortgage loan officer at U.S.
ICE MortgageTechnology has added new analysis tools, expanding its technology portfolio that’s designed to simplify underwriting and post-closing review processes. The company this week announced the debut of ICE Asset Analyzer and ICE Audit Analyzer, adding to the existing ICE Income and ICE Credit analyzers. ”
Self-branded “financial fitness” platform FinLocker announced Wednesday that it will cover 100% of the verification costs for mortgage borrowers who use lenders’ FinLocker-powered apps. This is about fundamentally transforming how the mortgage ecosystem works together.”
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. Apollo has 16 lending platforms in the U.S. This interview has been edited for length and clarity.
The Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) based on data analysis from ICE MortgageTechnology , indicates a drop in mortgage credit availability in September. Key Findings from the Mortgage Credit Availability Index: In September, the MCAI dropped by 0.5%
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 mortgagelending.
Mortgagetechnology company Gateless is offering its flagship automated underwriting platform to a new lender. The artificial intelligence-based platform, the latest addition to the Gateless AI mortgage tool suite, aims to enhance The Loan Store’s underwriting capabilities.
Artificial intelligence is transforming the mortgage industry, and we want your insights on how technology is impacting your business. Your feedback will help drive the conversation on AI-powered solutions in mortgagelending. Take the HousingWire Research survey and share your experience. It’s super short, promise!
In its latest Lending Intelligence Report, J.D. Power examines artificial intelligence and its emergence in the mortgage marketplace. In the report “ With AI-Powered Chatbots Coming to Customer Service, Are Mortgage Customers Ready? Power’s examination of AI and chatbots in the mortgage space. What Does the Future Hold?
The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement. Their innovative solution supports our commitment to streamlining the lending process for our partners.”
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 companys tech-driven approach to lending is proving attractive to investors. Powered by OpenAI technology, the portal tailors listings by a users property specifications.
Digital mortgage exchange platform and loan aggregator MAXEX announced on Tuesday the hiring of mortgagetechnology veteran Daniel Wallace as its new chief operating officer. Wallace brings more than 30 years of experience as a leader of tech-focused mortgage, asset management and capital market platforms. “The U.S.
Digital mortgage automation solution provider Floify launched a lending platform for mortgage brokers built on the foundation of the Floify point-of-sale (POS) platform. is a software development company that offers a digital loan origination and POS system for the mortgage industry. in an $87 million deal in 2021.
Connie Lindsay has been appointed Senior VP of MortgageLending for the Washington area by Rate. Lindsay joins Rate to continue its aim of empowering homeowners with cutting-edge technology and creative loan options. I am excited to join Rate at such a pivotal time for the mortgage industry, Lindsay said.
Together, we will improve the experience by connecting traditionally disparate steps of the search and financing process with leading technology that removes friction, reduces costs and increases value to American homebuyers.
The mortgage industry faces constant change. Encompass by ICE MortgageTechnology aims to provide a flexible end-to-end solution for lenders in a modern market. From origination to closing, it covers all lending channels in one system. Regulations shift, customer needs evolve, and economic conditions fluctuate.
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.
Fluctuating interest rates and a fast-changing market Last month, we saw the Federal Reserve deliver their long-awaited decision to lower interest rates with a 50 basis points cut, and 30-year mortgage rates reached as low as 6.08% according to ICE’s 30-year fixed conforming rate index.
Fifth Third Bank, an Ohio-based regional bank, moved its origination and servicing operations to Intercontinental Exchange (ICE) MortgageTechnology ’s end-to-end mortgagetechnology ecosystem, the companies announced on Tuesday. That is a common goal we share.
If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience. That’s not sustainable for a healthy mortgage industry. Click here to nominate someone.
The complexities of Non-QM lending demand a strategic approach that combines innovation, efficiency, and resilience. Acra Lending has positioned itself at the forefront of this sector by investing in its workforce, optimizing processes, leveraging cutting-edge technology, and building a robust infrastructure. Craig Timmins.:
Connecticut-based lender, servicer and asset manager Planet Home Lending has appointed Bill Shuler as executive vice president and chief information officer. In his new role, Shuler will focus on Planet’s technological growth and enhancements to its operational efficiency. “My
Figure Technology Solutions (FTS), the parent company of Figure Lending LLC , announced on Thursday that it will begin making its Digital Asset Registration Technologies (DART) platform — which it describes as “a combined lien and eNote registry service” — available to private and wholesale lending partners.
How can today’s mortgagelending 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. Acra Lending has done precisely that. For them, the word would likely be “flowing.”
Federally registered broker and correspondent lender Milestone Mortgage Solutions has acquired Willow Home Loans and is looking to join the $1 billion origination club this year. “With this technology , we’re going to be able to flip the script. Willow will fold into Milestone as part of the deal. ”
In the modern mortgage landscape, quality control (QC) stands as a critical pillar supporting the industry’s integrity and stability. This approach integrates QC principles throughout the lending process, from application to servicing.
Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. banks said they saw weaker demand for all types of residential real estate loans except for government (46.2%) and subprime mortgage loans (41.6%).
Figure Lending LLC is now operating under the umbrella of Figure Technology Solutions , independent of CEO Mike Cagney ’s Figure Technologies. to take its lending division, LendCo , public. CMG Financial , CrossCountry Mortgage , Fairway Independent Mortgage and The Loan Store are Figure’s private-label partners.
Called Ask Obi, the new AI assistant is designed to provide mortgagelending executives with instant, actionable insights from their Optimal Blue products and data. Through the power of generative AI, users can have an interactive conversation to better understand the data that drives their business.
The reverse mortgage division of Rate formerly known as Guaranteed Rate recently announced the hiring of reverse industry veteran Jesse Allen as the president for Rates reverse lending division as the company heads into 2025. Naturally, this includes reverse mortgages, he explained. That role is an active one, Allen said.
Mortgage lenders can also benefit from these projects through a variety of products, including home equity lines of credit (HELOCs). Data from ICE MortgageTechnology found that tappable home equity — the amount that a homeowner can draw from while keeping a 20% equity stake — rose to a record $17.6
In today’s economy, mortgage rates and housing expenses have consistently risen. Mortgage professionals must keep up with the new demand for home equity products in the new market. Jonathan Scarpati: I started with Senior Lending Network out of New York. This interview has been edited for length and clarity.
Finance of America (FOA), the leading reverse mortgage lender, presented a robust outlook last week in its third-quarter 2024 earnings and is aiming to hit the ground running with business in 2025. The product was first introduced in 2018, marking the industry’s first-ever second-lien reverse mortgage option.
These loans pertain to multifamily mortgages, which are used for commercial properties with five or more units, such as apartment buildings. However, there is a big difference between apartment lending and homeowners who have a 30-year fixed-rate mortgage.
Better said its new tool communicates with potential and current customers by answering mortgage application questions, verifying outstanding application data and connecting with Tinman in real time. Kevin Ryan, Better’s chief financial officer, said that the average cost to sell and process a mortgage in the U.S.
San Diego-based reverse mortgage wholesale lender Smartfi Home Loans has forged a partnership with LoanPASS to use the technology company’s software-as-a-service (SaaS) product and pricing engine in its reverse lending operations. This attribute is echoed in the LoanPASS partnership announcement.
financial system, including the mortgage sector. Announced on Tuesday, the new rule mandates that financial providers — including banks, credit card issuers and mortgage companies — share personal financial data for free with their peers when customers request it.
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