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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.
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.
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? As AI technology advances and new tech is implemented into day-to-day operations, management must weigh cost-effectiveness vs. onboarding.
The country’s largest wholesale lender, United Wholesale Mortgage (UWM), has launched a broker training program that will teach individuals to become licensed mortgage originators. UWM announced the move Saturday at the Association of Independent Mortgage Experts ’ (AIME) annual FUSE event in New Orleans. 21, 2024.
Mortgage tech firm TRAiNED Inc. TRAiNED named Mark Cunningham, a co-founder of Sales Boomerang , as its new CEO. In 2017, Cunningham, de Jong and three others founded Sales Boomerang, an automated borrower intelligence and retention system for the mortgage industry.
DocMagic and Secure Insight announced Friday the launch of a remote online notarization (RON) joint training program. The goal is to establish a trusted database of notaries who have been fully trained and certified on DocMagic’s Total eClose platform. Dealmaking in the virtual notary services space rose amid the pandemic.
Hochul is seeking to mandate specialized training for bank tellers and other banking professionals in New York to identify and stop instances of elder financial abuse before they take place, according to a report from Newsday. Older Americans are often targets of financial scams by bad actors, and New York Gov.
It can also explain an agent’s payout on any transaction and is integrated with Real Academy, which will give agents access to the brokerage’s entire catalog of training sessions and workshops. But Real agents are not the only ones receiving upgraded AI technology. Real also unveiled Leo of Clients on the RISE stage Tuesday.
Union Home Mortgage (UHM) on Friday announced two changes to its executive leadership team, just days after the company grew its footprint through the acquisition of NRL Mortgage. Ohio -based UHM promoted Brian Smith to chief operating officer of retail lending and hired David Alonzo as its chief technology officer.
Women like Agnes Standowicz, VP, Underwriting Leader at United Wholesale Mortgage (UWM). Agnes Standowicz: I began my mortgage journey in my last year of college when I was hired at a small broker shop to help answer phone calls. From there, I wanted to learn everything I could about the mortgage process.
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.
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%
ICE MortgageTechnology will now deploy an “eVault” solution as part of its mortgage closing platform to ensure the secure storage of digital mortgages and notes, it announced late last week. Digital mortgage platform DocMagic Inc. ICE also acquired Simplifile in 2019 for $335 million.
This webinar will delve into the latest technology trends, from advanced data integration to automated workflows, designed to streamline your processes and improve accuracy. My expertise lies in developing strategies that integrate the latest technology and tools with the appraisers who use them.
Certain states require AMC staff to receive training to ensure they understand valuation independence regulations as well as other statutory requirements. Our free webinar, “ Components of AMC Training ” will be held on June 10th at 2 pm with Josh Walitt as the host. Buzz : Why do AMCs need the training?
Brian Paine has joined Knowledge Coop , which offers compliance training to the mortgage industry, as director of technology. Paine has also served in integral technology roles at Entisys360, Western Precooling, Live Nation, Charles Schwab and Nordstrom.
In the modern mortgage 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.
Intercontinental Exchange (ICE) introduced MSP Digital Experience (MSP DX), a conversational user interface designed to interact with the company’s leading mortgage servicing system, MSP. The new interface is poised to streamline workflows, enhance efficiencies and simplify the training process for servicing team members.
Last year’s list of honorees included 200 companies — 100 real estate and 100 mortgage — that left a transformational impact on the industry. We’ve focused on a layered approach to security in our internal culture and in our products, encouraging improvements to personnel training, more secure processes, and stronger technology tools.
Few, if any, industries in the world have experienced such dynamic shifts in recent years as the mortgage industry. Mortgage lenders are no longer restricted to traditional and often time-consuming processes that have historically bogged down the loan journey. The mortgage market is more competitive than ever.
The mortgage industry has experienced significant contraction over the past two years, adjusting operations to align with the reduced demand for refinance and purchase financing. This decline, primarily driven by mortgage interest rates, which have more than doubled during this period, may soon be reversed.
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.
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. We have the means today to shift lenders to far more efficient staffing and personnel models.
Central, when the Five Star Institute , in partnership with Global Strategic , present “ Partnering for Performance: Mortgage Operations Outsourcing.” The Five Star Institute Webinar Series aims to broaden the horizons of the mortgage industry. In 2003, he owned and operated BCF Technology Resources Inc.
Top mortgagetechnology executives say their companies are embracing artificial intelligence (AI) in their operations but still relying on human decision-making to sell loans. ” Jason Bressler, executive vice president and chief technology officer at United Wholesale Mortgage (UWM), said. ” UWM, the top U.S.
” From the Mortgage Bankers Association (MBA): “While MBA supports the ongoing development of such tools, MBA also acknowledges the need for appraisers and lenders to provide some level of oversight and due diligence to preserve the overall quality of the data referenced in future valuations. The axe can do nothing on its own.
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. SB: Our technology is amazing.
The mortgage world is fast-paced and constantly evolving, driven by shifts in laws and economic conditions. Both lenders and borrowers need to grasp these changes to skillfully move through the maze of mortgage regulations. Adapting to changes Success in the mortgage industry hinges on your ability to adapt.
Navigating Mortgage Law: Insights with Stephen Hladik from Hladik Onorato & Federman In this episode of the MP Access Show, we’re thrilled to welcome Stephen Hladik, a Partner at Hladik Onorato & Federman, LLP, and a highly respected expert in mortgage foreclosure, bankruptcy, and lending law compliance.
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. What training and development initiatives have proven most effective? Technology is at the core of Acra Lending’s strategy for Non-QM lending.
The COVID-19 pandemic has caused historic, unprecedented challenges for mortgage servicers. Forbearance deadlines get pushed back seemingly in perpetuity, and an unproven, inconsistent technology infrastructure has the potential to result in a series of foreclosure and loss mitigation crises. The onus gets back to the servicer.”.
Homelendia Mortgage LLC, a Florida-based mortgage brokerage franchisor, launched its mortgage brokerage franchises this week, offering individual unit and regional opportunities to qualified individuals, teams, brokerages and loan originators. That changes now,” Homelendia CEO Frank Chimento said in a press release.
Every business is on the brink of significant transformation driven by the potential of Artificial Intelligence (AI) and workflow automation, and the mortgage industry is no exception. HousingWire spoke with Gareth Borcherds , managing director at Ascent Software Group about how AI is speeding up processes in the mortgage industry.
HousingWire recently spoke with Brian Simon, president of Trelix Mortgage Fulfillment Services, about how Trelix helps its clients work more efficiently while still maintaining compliance and performing due diligence. HousingWire: What sets Trelix apart from other mortgage fulfillment services?
Housing Wire recently sat down with Newbold Advisors Partner Robert Simpson to learn more mortgage claims in today’s servicing climate. HousingWire: What are some key challenges servicers are currently facing regarding mortgage claims? Robert Simpson: This is a pivotal moment for mortgage servicers.
In this week’s episode of the PowerHouse podcast , HousingWire President Diego Sanchez chats with Jason Bressler, chief technology officer at United Wholesale Mortgage (UWM). Bressler: It’s made up of several different companies that have decades of experience in the mortgage space. Can you tell me more about?
A race is a useful analog for the mortgage business, especially as it relates to the refinance business. Anticipating the start of the refi race When mortgage rates finally rose above their historically low levels, the mortgage refinance business started to dry up. The reality is this race will go to the prepared.
RE/MAX Holdings and its mortgage franchise Motto Mortgage announced Tuesday the acquisition of wemlo , a mortgage processing startup, for an undisclosed amount. Dustin Morton, vice president of product and strategy at Motto Mortgage, recognized wemlo’s potential right away.
Rocket Companies , parent of Rocket Mortgage , has its eyes on the solar energy industry, announcing this week that it will enter the green energy game by 2022. Rocket Companies’ CEO Jay Farner said in a statement that the company has the “technology and expertise to provide the best experience possible for homeowners who want to go green.”.
Recent cyberattacks at mortgage companies have put the industry in alert mode, executives at top lenders, servicers, tech vendors and investors told HousingWire. It’s scary out there,” a technology leader at a top lender said anonymously, adding that there were recent cyberattack attempts at his company.
Tim Bowler, the president of ICE MortgageTechnology , appreciates a good analogy. Treasury official says that the mortgagetechnology giant’s integration of Black Knight isn’t dissimilar to building a rail line. The former Goldman Sachs managing director and U.S. meter gauge.
Rocket Mortgage originated more than $100 billion in mortgages for yet another quarter, but profit margins are trending down. And the country’s largest mortgage lender expects a good-sized slowdown in the second quarter of 2021. The post Rocket Mortgage prepares for a slowdown appeared first on HousingWire.
Many analysts who cover the mortgage industry believe that the worst of the current cycle may be in the rearview mirror. In 2022 and 2023, quickly rising mortgage rates and shrinking volumes sent shockwaves through the industry and prompted massive job cutbacks. According to data from the U.S.
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