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TransUnion has expanded its partnership with Truework to provide mortgage lenders with broader access to income and employment verification data. The mortgage addition follows similar integrations for rental screening and auto lending. The mortgage addition follows similar integrations for rental screening and auto lending.
ICE Mortgage Technology has added new analysis tools, expanding its technology portfolio that’s designed to simplify underwriting and post-closing review processes. The tools allow lenders to free up employees to execute higher-value work, ICE said. ” . ”
Tim Nelson, a longtime reverse mortgage industry professional and reverse department manager at VIP Mortgage in Scottsdale, Arizona , spent 20 years in the home lending arena before shifting his focus entirely to reverse. Nelson is now a reverse mortgage borrower in addition to being an industry professional.
Chase Home Lending recently announced a limited-time, nationwide interest rate discount that is designed to help homeowners save on their monthly mortgage payments.The offer is in effect through March 7. This offer extends to anyone with an existing mortgage at any lending institution looking to benefit from refinancing, she said.
Mortgage technology 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 mortgagetool 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!
Introduction As part of our ongoing discussion on the concept of movement in the mortgage industry, it is readily apparent that the failure of mortgage companies to pivot or tweak their business models to satisfy changing market and other conditions has resulted in consolidation based on liquidity, buyback, financial and other concerns.
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. Tavant, an HW Tech100 winner for multiple years, helped underwrite more than 80,000 loans in 2021.
loanDepot has promoted Viviana Abarca, who has worked for the mortgage lender for the past 11 years, to managing director of mortgagelending operations. billion in mortgages, down from $5.3 billion in mortgages, down from $5.3 billion in the previous quarter. billion in the previous quarter.
At the beginning of 2024, mortgage technology 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. What does the future hold?
Xactus has become the first technology partner to introduce the FICO Score Mortgage Simulator, a new tool designed to help lenders and borrowers understand how credit decisions impact mortgage eligibility. The simulator, developed by FICO , is the only mortgage industry tool that uses FICO scores and FICO score algorithms.
A new report by IDIQ® , a financial intelligence company, details top consumer credit concerns provided by mortgage , real estate, and lending professionals as well as borrowers themselves. The report also introduces a solution with IDIQ’s newly launched credit-building tool, CreditBuilderIQ®, based on the feedback provided.
The reverse mortgage division of Fairway Independent Mortgage Corp. has honored a longtime professional in its ranks with a lifetime achievement award, in recognition of his 40-year career in the mortgage banking, real estate , homebuilding and title insurance industries.
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.
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.”
Describing the modern-day mortgage market as challenging would be an understatement, to say the least. Mortgage interest rates have steadily ramped up throughout 2024. The average rate throughout 2024 for 30-year fixed mortgages was 6.72% higher than it was during the 2008 market crash.
Maxwell , the mortgage fintech backed by Wells Fargo and Fin Capital, has launched Maxwell Single-Sign On, an SSO (single sign-on) tool for lenders to enhance security and reduce the risk of data breaches, the company announced on Monday. This content was generated using AI, and was edited and fact-checked by HousingWire’s editors.
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.
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.
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.
Mortgage technology solutions provider CoreLogic on Tuesday announced that its AutomatIQ Borrower tool is expanding to include asset and liabilities analysis capabilities. The company aims to make the product a “one-stop analysis solution for mortgagelending financial institutions,“ it said in its announcements.
The Mortgage Bankers Association (MBA) supported the UDAP policy reversal, arguing that avoided unnecessary oversight and cost increases for consumers and lenders. These programs are often used to promote fair lending and expand access to credit for minorities, low-income borrowers or specific communities that face systemic barriers.
HighTechLending , a California -based top-10 reverse mortgage lender, announced on Friday that it is rebranding its wholesale lending division to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers.
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 Mortgage Technologys updated standards promises enhanced efficiency, cost savings, and future-proof workflows. Why should lenders act now?
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.
A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.
Freddie Mac is rolling out a free tool for lenders, DPA One, that matches borrowers with down payment assistance programs across the country. The new tool allows lenders and housing counselors to enter client eligibility parameters, download results and compare up to three programs side by side to make quicker lending decisions.
With soaring home prices and mortgage rates putting a damper on the market for new home loans and refinancing options, it’s a challenging time for homebuyers and lenders alike. And that offers an incredible opportunity for banks and non-banks alike to improve their digital channels to better support home equity lending.
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.”
On Wednesdy Citi launched mortgage.com, a new platform that creates a brand-endorsed, consumer-focused channel to leverage Citi’s brand authority and encourage mortgage or refinance applications for the bank. Enter mortgage.com, which Burgard says is a learning platform to grow the banks presence in the mortgage space.
With the recent downturn in volume of new originations, many lenders are using this time to take inventory of the available tools geared toward risk mitigation and workflow optimization. There is also a renewed interest in the future state of residential mortgage originations. per year.
In 2024, a key element for the reverse mortgage industry was a sense of newfound collaboration that many industry participants felt with forward mortgage players. He also said he is encouraged by a greater role being played by other forward mortgage organizations in seeking out such partnerships. Mayer said.
Nationwide private lender RCN Capital on Tuesday announced the acquisition of BLN Software , which offers a loan origination system and loan management system for the private mortgagelending industry. “Together, we will drive greater success for our clients and transform the future of real estate lending.”
The rise of private lending Private lenders disrupted the monopoly of traditional banks and the private lending market has since seen a remarkable rise, reaching $1.5 has surged by 20-30%, with more than 5,000 lenders originating mortgages in 2023. trillion in assets under management globally at the start of 2024.
Real estate technology firm Knock announced Thursday that its bridge loan product is being integrated into the borrower application process at Baltimore -based NFM Lending. “With so many of our lending officers turning to the Knock Bridge Loan as a financing solution, this integration will streamline the approval process.
housing market remains challenging for prospective buyers as concerns over mortgage rates , home prices and affordability persist in 2025. The affordability crisis extends beyond mortgage payments. Jones, a Colorado-based LO for Lower -backed Universal Lending Home Loans. ADU is a big requirement now.
Rocket Mortgage launched a new artificial intelligence (AI) tool on Tuesday that allows its client experience teams to analyze sentiment, record behavior patterns, transcribe conversations and create tailored experiences during customer interactions. The lender estimates it will save tens of thousands of hours annually.
Xactus , a provider of verification solutions to the mortgage industry, is partnering with FICO to bring the new FICO Score Mortgage Simulator to market. We are excited about being the first company to partner with FICO to introduce this important tool to the lending community, says Shelley Leonard, president of Xactus, in a release.
A new TransUnion survey has found that many consumers feel their existing mortgage and auto payments are putting a strain on their household finances, as the prospect of falling interest rates has them ready to consider refinancing those loans. They resulted in responses from 1,002 and 1,025 auto and mortgage loan customers, respectively.
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.
The efficiency and reliability of property appraisals are the linchpin to the success of a steady flow of mortgage transactions. Additionally, specialized tools enable appraisers to submit their findings directly from the field using mobile devices.
26 in Dallas, provided valuable insights into the forces shaping the mortgage and housing markets in 2025. Dark Matter Technologies makes it a priority to stay ahead of these trends, ensuring our clients have the right tools to scale efficiently when market conditions change. The HousingWire Economic Summit, held Feb. Those who dont?
The mortgage origination industry has long made use of an operational strategy that relies on “staffing up” during cycles of high volume and then making staff reductions, sometimes en masse, when origination volume declines. This simple fact often leads to checkers checking checkers.
Tennessee-based multichannel mortgage lender First Community Mortgage announced on Wednesday that it has selected the Blue Sage Solutions digital lending platform and its LION Consumer POS to help scale its growth efforts across the 48 states it operates in. In FCM’s case, this also includes interim servicing.
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