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The industry fears AI will ultimately replace everyone, from operations to loanofficers. As a loanofficer , I am not losing any sleep, and here is why you should not, either. Now, remember that this is a top coach, and he is using this technology across his platforms to increase conversions. tale as old as time.
Leading mortgage technology provider Uplist recently announced a new integration with fellow tech firm Polly. This move grants loanofficers access to real-time insights that are designed to improve borrower assistance and engagement. The integration comes at a time of rising refinancing activity.
Even as artificial intelligence (AI) becomes more prominent in the mortgage industry, most millennial and Generation Z homebuyers are hesitant to rely solely on a fully automated application process to get a loan, according to a new study. About 58% of respondents still relied on loanofficers to guide them through the process.
The survey questioned recent homeowners, the majority of whom were first-time buyers, a series of questions about their experience during the mortgage application and closing process, including their perceptions on the use of technology, artificial intelligence (AI), and automated communications. What Does the Future Hold?
The platform is intended for housing professionals in various sectors, including 5 million loanofficers, appraisers , servicers , underwriters , developers, agents, brokers, attorneys and regulators. Precision marketing tools add another layer of predictive control to CoreLogic’s arsenal. properties on one platform.
CreditXpert , a leading mortgage technology company, announced on Wednesday the launch date for its new credit optimization platform. The company will replace its What-if Simulator and Wayfinder tools with the new platform on Dec. CreditXpert developed the platform to cut down loan filing timelines.
This is why it’s critical to have the tools and processes in place to nimbly react to and capitalize on market shifts as they happen. We recommend investing in three key aspects of your customer acquisition strategy to ensure you have the technology, people and operational workflows needed as rates change and volumes increase.
I’m going to start by making Rate the absolutely best place for every single loanofficer to work at figuring out ways in which we can develop them, give them all the skills, the coaching , the mentoring and the tools, so they can have an amazing business, but also better serve all their clients and all their partners.
Mortgage technology company Uplist has launched what it says is a killer new tool that will help loanofficers automatically generate refinance options for their clients. The tool also does modeling of potential savings for homeowners by analyzing various interest rates , closing costs and repayment options.
Thuan Nguyen’s mortgage brokerage , Loan Factory , has rolled out an artificial intelligence (AI) tool for customers and loan originators. The borrower or loan originator can simply drag their documents in and the AI tool will read them, obtain all necessary information and fill out the application for the user. “AI
Other highlights from Better included positive early results from its AI investments, namely with “Betsy,” a tool that assists customers with the mortgage process from preapproval through closing. Better’s earnings report also included the announced hiring of the executive team from NEO Home Loans to build out a distributed retail channel.
.” The AI loan assistant, dubbed Betsy, was built through Tinman, the company’s proprietary loan origination platform, where information and facts on loan applications are stored. Kevin Ryan, Better’s chief financial officer, said that the average cost to sell and process a mortgage in the U.S.
Should the goal of marketing technology be to make it so that a loanofficer never needs to log in? Or, should LOs be encouraged to engage with marketing tools as much as possible in order to help them build their own brand and connections? Empowerment, not detachment, is the path forward.
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.
“From loanofficers to secondary marketing teams and investors, we empower mortgage professionals with tools designed to maximize their profitability on every loan transaction.” ” The announcements were made at MBA Annual in Denver.
Cloudvirga’s platform solves for both by creating the best experience for borrowers and loanofficers. Cloudvirga’s POS is an experience-driven platform that gives lenders access to the tools they need in an easy-to-use, responsive UI. Raman Iyer is responsible for Cloudvirga’s digital innovation and technology strategy.
Editor in Chief Sarah Wheeler sat down with Chad Smith, president and COO of Better Mortgage , to talk about leadership, technology, and how they have pivoted their business strategy to meet the needs of this market. Smith joined Better in May 2024 after serving in senior leadership roles at Mission Loans, Caliber Home Loans and loanDepot.
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.
With a keen focus on tailoring marketing approaches to individual loanofficers and fostering strong partnerships across the industry, Vonder Haar emphasizes a customer-centric approach that prioritizes problem-solving and ease in mortgage transactions.
HousingWire recently spoke to Sandra Madigan, EVP of product strategy – servicing technology at ICE Mortgage Technology , about improving the home buying and ownership experience with technology and how the industry can do so thoughtfully. What do you think the disconnect is there, and do you see this changing in the future?
And, in the mortgage industry, AI will play an instrumental role in helping loanofficers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. The most difficult part, however, is building the technology. Ghamsari: I think the technology is extremely difficult to build.
Mortgage veteran Donny Panasis has joined Embrace Home Loans as branch manager of its Viera, Florida office, where he and his team will originate loans for both existing and new construction homes. Panasis previously served as a loan originator for The Mortgage Firm and TD Bank.
I sat down with Tim Bowler, president of ICE Mortgage Technology, a business unit of ICE, to talk about the company’s mortgage automation strategy — and what keeps him up at night. SW: ICE Mortgage Technology is known for its focus on automation. Sarah Wheeler: ICE’s acquisition of Black Knight just closed today.
LoanLogics, a mortgage loan quality automation provider, announced the integration of two of its document processing tools with Finastra ‘s MortgagebotLOS solution on Wednesday. This integration aims to enhance lender capabilities and facilitate document processing and income calculation, the statement said.
This includes upgrading technology to serve tech-savvy young buyers better, hiring additional staff, and developing a robust training program to prepare new employees for the increased volume of customers. Involve the technology team and end users as they offer unique insights into the intersection of process and technology.
Mortgage tech firm Blend Labs has launched its first AI-powered chat tool, which it says will allow loanofficers to be more efficient and offer a far more personalized touch for prospective borrowers. The company announced the tool this week but won’t be rolling it out to its clients immediately.
Black Knight this week launched a tool that enables lenders to compare loan estimates and closing disclosures from closed loans to minimize expenses in a higher rate environment. Black Knight, which has agreed to be bought by rival ICE Mortgage Technology in a deal v alued at $13.1 trillion in 2021.
HousingWire Editor in Chief Sarah Wheeler sat down with Jimmy Kelly, president and CEO of Lone Wolf Technologies , to discuss the company’s development process and his vision for a connected real estate platform. That is a lot of technology and a lot of wasted effort. This interview has been edited for length and clarity.
Candor Technology has launched PreQual, a patented borrower prequalification service that leverages artificial intelligence to deliver instant results and borrower insights across conventional and FHA loans. The post Candor Technology Introduces AI-Powered Mortgage Prequalification Tool appeared first on Appraisal Buzz.
Miami-based fintech provider LoanPASS integrated Uplist ’s suite of home-shopping tools into its pricing engine, the company announced in November. The partnership will boost loanofficers ’ capacity to deliver personalized, efficient and tech-powered solutions directly to their clients and agents.
Radian Group announced a strategic investment in FinLocker that will closely connect the technology between Radian’s Homegenius platform and FinLocker’s financial fitness and homeownership platform. Clients of FinLocker include loanofficers, mortgage lenders, servicers, banks and credit unions.
LoanSnap has unveiled a cloud-based portal called LoanFLow that will allow licensed brokers and loanofficers in the U.S. The company says its new LoanFlow portal will allow originators to close loans in as little as 24 hours and in 15 days on average, the company said. to originate mortgages anywhere at any time.
To get a better understanding of how this arrangement plays into the ambitions of both the lender and tech provider, HousingWire spoke with Andrew Badstubner, chief information officer at First Community Mortgage, and David Aach, chief operating officer of Blue Sage.
CreditXpert, a software solutions company, provides loanofficers with the tools needed to help their clients reach their dream of homeownership. This allows the loanofficer to focus on sales activities and provide their leads with better service. Technology can enable lenders to educate borrowers.
They also discuss fintech developments for loanofficers, recruitment and even the CPO’s favorite hamburger. Before a discussion point on loanofficers, Gillespie circles back and revisits Lower’s mission to guide consumers through homeownership. Gillespie joined Lower last year after the acquisition of Thrive Mortgage.
The solution leverages the power of innovative, integrated technologies to not only simplify the mortgage application and approval process for borrowers, but also to improve the backend process for loanofficers. Borrower Digital is further enhanced with Black Knight’s companion solution LoanOfficer Digital.
This tipping point came after several years of rapid technology growth in our industry. The trends we elaborated on two years ago, pre-COVID, are now the standard: Digital is the new normal and technology is now the price of entry rather than a competitive advantage. To them it’s just “a mortgage application.”. MLS reinvented.
By writing and maintaining all of the code along with investing heavily in putting together a world class modern IT infrastructure that efficiently leverages a mix of modern technologies like the public cloud and API based software architectures, UWM has been able to turn on a dime and stay well ahead of shifts in the market utilizing technology.
Add mortgage tech firm Guideline Buddy to the list of companies with an artificial intelligence -powered chat tool. The new tool is designed to help loanofficers, processors and underwriters instantly find the relevant mortgage guidelines they need.
The following year, it acquired Disclosures.io , an innovative provider of listing management tools. The company is “deeply focused on building the tools and technology that solve the hardest problems that lenders face today in closing transactions,” Uher noted in a statement. That was the company’s third acquisition.
HousingWire recently spoke with Dan Catinella, chief lending officer at Total Expert, about how Customer Intelligence technology is improving deal flow and pushing the customer experience into the 21st century. . The best tools will allow lenders to be innovative in how they target prospects and engage with current customers. ???.
Top mortgage technology executives say their companies are embracing artificial intelligence (AI) in their operations but still relying on human decision-making to sell loans. “There’s one question every CEO, CTO, CIO, loanofficer, processor, underwriter, they all ask the same thing: will AI replace my job?
Her role will focus on technology to drive the company’s growth. Michael Brennan, president of Movement, said Waggoner can empower loanofficers with the tools they “need to win.”. “She has a proven track record of leading sales-centric technology teams and delivering with speed to market,” he added.
SimpleNexus is a homeownership platform featuring mobile-first technology that streamlines the mortgage experience for all participants. Loanofficers experience on-the-go productivity with integrated mobile origination tools and enhanced referral outreach with a shareable, cobranded app for real estate partners.
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