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Join us for a free webinar on Revolutionizing Appraisals: The Road to Modernization this Thursday, November 14th at 1PM Central Time. Discover the cutting-edge tools and strategies driving the future of real estate appraisals. I’ve also spearheaded digital transformations, managing teams that develop cutting-edge appraisal tools.
As mortgage rates fluctuate based on decreasing housing inventory volume, the appraisal market is more volatile than ever in key areas such as urban and rural communities states like California and Texas. In fact, almost 20% of modern companies are fully remote as of 2024 , according to the U.S. Career Institute.
A Fannie Mae survey published in mid-May found that mortgage lenders see value in appraisal modernization, specifically in the implementation of non-traditional appraisals and inspection-based appraisal waivers. Currently, the appraisal process is the biggest issue facing the mortgage industry,” the mid-sized lender said. “It
“Our goal has always been to provide clients with the most advanced, efficient and reliable tools available,” ClearValue CEO Don Juhl said in a statement. “By By integrating Restb.ai’s technology into Certainty, we are taking a leap forward in appraisal modernization. general manager of valuations, said in a statement.
At the beginning of 2024, mortgage technology company LoanPASS was announced as a technology partner for reverse mortgage lender Smartfi Home Loans. Getting the hang of reverse Mitchell is a 25-year veteran of the mortgage technology space, primarily working for LOS companies.
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 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.
The mortgage industry today demands speed, accuracy, and satisfied customers. ICE Mortgage Technology presents their solution that also serves as an overhaul of the home financing process. What sets ICE apart is how they’ve united different tools into a single platform.
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. We love ACES.
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%
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.
Real estate valuation technology provider Clear Capital on Thursday launched Universal Data Collection (UDC), a product designed to support appraisal modernization. The UDC product provides lenders with tools for scalability, interchangeability and loan management, according to a statement.
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?
Most mortgage lenders have already embraced automation in their operations. The reality is that modernmortgage operations run on multiple platforms loan origination systems, servicing software, payment processing tools, and customer relationship management systems.
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. The post Tech firm Polly bulks up to help modernizemortgage industry appeared first on HousingWire.
However, a year after the GSEs announced new appraisal modernization solutions, as they’re more widely adopted, questions arise. A look into GSE appraisal modernization efforts The GSEs have each offered appraisal waivers on eligible loans for several years. How do the solutions work? Why do we need them? But you already know this.
Our profession has been abuzz the last year or two with regards to the GSEs being mandated to modernize the appraisal profession. Why are appraisers essentially being excluded from the conversation about modernizing the profession? With mortgage related work, we get an order in and it goes to my office administrative team.
Despite a drop in overall profitability in the fourth quarter of 2024, FOA, one of the nations leading reverse mortgage lenders, remains optimistic about the total addressable market for home equity-based retirement products and will continue to develop its offerings in 2025.
New York-based Simplist Technologies , which has developed a consumer-facing mortgage platform, introduced a new software solution on Thursday for mortgage professionals that combines a loan origination system (LOS) with a point-of-sale system (POS).
1 loan originator in the country by volume for at least five years, is assuming the role of president at Rate Mortgage , the company announced Tuesday. 8 on the Inside Mortgage Finance ranking of top originators at just under $40 billion. 1 mortgage company in America. 1 mortgage company in the country.
In an industry where managing a web of technology vendors to support LO’s sales and marketing needs has become overwhelmingly complex, inefficient and creates unnecessary security and compliance risks, CANDID is quickly becoming a leader in transforming how mortgage lenders operate.
Here it is: another article about appraisal modernization. The FHFA RFI responses to appraisal modernization are a treasure trove of insight into ideas and options for modernization from a wide variety of respondents. No doubt, investment in modernization is needed in the appraisal process.
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.
Thankfully, there’s a tool that allows servicers to do just that. Freddie Mac’s Servicing Gateway offers one platform, one login and one doorway to Freddie Mac servicing tools. We’re doing that by creating future tools within Servicing Gateway to improve servicers’ speed to market for mortgage resolution.
The wholesale channel will continue to grow as more retail originators and borrowers learn the benefits of working with a mortgage broker. United Wholesale Mortgage (UWM) is solely focused on growing the wholesale channel and helping independent brokers thrive. “At Blink+ is a white-label, borrower-facing digital application tool.
When will the mortgage industry know it has reached the tipping point where innovation is no longer a competitive advantage but an existential need? Fifteen years ago, I launched a business on a mission to modernize and decrease friction in the real estate finance supply chain. Everyone works together.
National Mortgage Insurance Corporation (National MI) announced on Tuesday its integration with Vesta , a loan origination system (LOS) provider and software-as-a-service company. ” National MI’s API platform lets lenders and LOS providers quickly and seamlessly retrieve accurate mortgage insurance quotes through Rate GPS.
Department of Housing and Urban Development (HUD), addressed industry attendees at the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in San Diego last week. David Berenbaum The modernization rule, he said, is simple in that it seeks to meet consumers where they are.
The mortgage industry faces constant change. Encompass by ICE Mortgage Technology aims to provide a flexible end-to-end solution for lenders in a modern market. “We’re always looking for ways to make the loan process smoother,” an ICE Mortgage Technology representative explained.
Better, faster, cheaper has long been the promise of technology in the mortgage industry. Some may argue whether today’s technology is that much better than the tools we used in the past, particularly in the servicing business where many still use platforms designed and first built decades ago. And fall is exactly what we did.
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.
We’ll also share best practices for developing and sending real estate newsletters and recommend some essential tools to make your email marketing stand out. Market Leaders advanced newsletter automation tool can help. In this article, weve compiled 49 compelling real estate newsletter ideas and subject lines. Lets dive in!
The key to appraisal modernization is wide-spread adoption, and alongside CoreLogic, we are expanding access to modern appraisal tools with the aim of pushing the mortgage industry closer to this new standard,” Kenon Chen , Clear Capital’s executive vice president of strategy and growth, said in a statement. “The
Looking for a quick and easy way to stay up-to-date on mortgage lending news, trends and technology? Podcasts are a great resource for mortgage professionals to continue learning, with shows covering industry updates, business advice and the experiences of other pros in the mortgage industry. Mortgage Marketing Radio.
For better or worse, trends in the mortgage industry tend to mirror corresponding trends in the overall real estate market. In addition, a vast majority of people spent more time at home in 2020 than ever before in modern history. In turn, mortgage companies need to get with the times, implement technology and improve efficiency.
Consumer-First Servicing Modernization: Servicing comprises the vast majority of a customer’s borrowing lifecycle, and Sagent CARE brings the same modern experience borrowers get in the origination space to servicing, where lifetime customer relationships are managed and grown. They can also act fast and resolve hardships.
HousingWire: What role does data and technology play in your financial planning and forecasting for 2025, and how are you leveraging these tools to enhance decision-making? Charlotte Simonelli: Were all watching macro trends on things like mortgage rates and supply that influence the market, but those are often beyond our control.
In the modernmortgage landscape, quality control (QC) stands as a critical pillar supporting the industry’s integrity and stability. Seasonal lulls as QC enhancement opportunities The cyclical mortgage industry presents challenges and opportunities for QC improvement.
In February 2019, we wrote an article predicting this seismic shift, detailing how mortgage lenders could and should prepare to not only survive the shift but thrive in the future digital age. They don’t think, “I’m going to fill out a digital mortgage application or I’m going online to do my mortgage application.”
Black Knight recently launched a web portal that enables clients, third-party providers and their developers to access the company’s application programming interfaces (APIs) across the mortgage life cycle. Its new tools also allow lenders to cut costs in a higher-rate environment. homeowners and industry stakeholders.”.
The drive toward modernization has led to technological advancements and more data-driven valuations, which leaves many appraisers at a crossroads: while these changes can lead to greater efficiency and fairer home valuations, adopting new tech can be scary. Many of us find it challenging, or even maddening, to learn new tech tools.
Having built and led mortgage operations for nearly three decades, planning for the future stands out amongst the most challenging components a leader faces. The best way to do this is to understand your environment and assess the tools you have at the ready. So, as we approach mid-year, let’s refresh by answering 4 questions.
Talk to any mortgage technologist about the future of the industry and two topics will emerge immediately: big data and smarter automation. Joe Camerieri, EVP Mortgage Cadence. 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.
HousingWire: Like most industries, the mortgage industry has historically had key, dominant players that lenders must work with in order to remain operational. Specifically, when it comes to a core component in the mortgage tech stack like the PPE. That said, my concern lies first and foremost with the lender.
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