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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.
With mortgage rates back into the 7% range and several consecutive weeks of reduced demand , Rocket Mortgage is making what appears to be a volume play. 15 at 2 pm EST. Kyle noted that the training is available to the entire broker community, even non-Rocket partners. 12 third quarter earnings report.
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.
Reverse mortgage professionals made more inroads into the forward mortgage industry in 2024. This happened through dedicated conversations, partnerships between reverse and forward mortgage companies, and expanded activities in reverse that stemmed from acquisitions and expansions of existing divisions.
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.
Lessons from California wildfires and other natural disasters Californias wildfires highlighted the chaos that natural disasters continue to unleash not just on homeowners, but also on the mortgage servicers tasked with supporting them and the insurance industry that covers the cost of rebuilding.
Department of Housing and Urban Development (HUD)-approved housing counselors should be trained to work with Home Equity Conversion Mortgage ( HECM ) borrowers, according to perspectives she shared this week during an online housing conference hosted by HUD. This is a priority for us.
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. In its latest Lending Intelligence Report, J.D. Click here for more on J.D.
The state of leadership in the mortgage industry When people say, Theres no such thing as a perfect company, are they really acknowledging an inherentflaw or are they feeling the void left by inadequate leadership? Training on emotional intelligence can transform anorganizations culture. Heres how: 1.
Mortgage Capital Trading (MCT) has released a new AI adviser for mortgage capital markets called Atlas. platform, Atlas serves as a virtual capital markets expert and educational resource for MCTs mortgage lender clients. No client data has been exchanged with or used to train Atlas, MCT says.
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.
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.
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%
Another regulator has sued Rocket Mortgage for allegedly discriminating against a Black homeowner by undervaluing her home during an appraisal in Colorado three years ago. The homeowner applied for a mortgage refinance at Rocket in January 2021. After she complained to Rocket Mortgage, the company canceled her refinance application.
The Mortgage Bankers Association (MBA)s education division, MBA Education, recently launched its Mortgage Banking Bound (MBB) program at Cleveland State University. Last week, our first class was led by Jen Peachman from GVC Mortgage. 15 and goes until the end of April, Hoffman told HousingWire. Lectures are done by MBA members.
In the latest episode of the Power House podcast, host Diego Sanchez sits down for a group chat with Fobby Naghmi, senior vice president at Homecomings Mortgage & Equity , and Ginger Bell, founder of Edumarketing. Sanchez: Fobby, do you think there’s a leadership deficit in mortgage? You have a top producer in the branch.
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. After branching out into executive coaching and training, he founded UHM’s in-house training program, Partners Coaching Partners.
360), an online regulated training provider, acquired Mortgage Educators and Compliance (MEC), a mortgage lending training company, both companies announced this week. MEC prides itself as a “one-stop online resource for all things mortgagetraining and education.” 360training.com, Inc.
Logan Mohtashami: Regarding inventory, we had a slow train wreck happening for years, and I can explain in more detail. Since 2014 inventory has been falling slowly for years, then here come years 2020-2024, our most prominent housing demographic patch ever in history with low mortgage rates. What levels should we be hoping for?
Nathan Knottingham, COO at Vetted VA , announced the launch of a new mortgage continuing education provider, MLO Force , from the stage at HousingWire’s The Gathering this week. The aim is to leverage the pair’s experience in content, training and digital production to make required NMLS training more fun, Knottingham said.
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.
This was some of the perspective shared by Matt Cook, the director of business development at HomeTeam Inspection Service , who shared with HousingWire ‘s Reverse Mortgage Daily (RMD) how the growing number of older homeowners is impacting what he sees on a daily basis. Some feel like homes arent built like they used to be.
Title theft occurs when a criminal impersonates a property owner and sells or takes out a second mortgage on the owners property. In the worst-case scenario, the home goes into foreclosure and/or is deeded to a new purchaser.
Davis also highlights Deephaven’s edge in products like their Ground-Up Construction and Fix-and-Flip products, offering originators essential tools and training. We also have webinars and trainings for originators to become experts in the space. As I mentioned, partner with Deephaven to get training.
The Legal League is uniquely positioned to drive progress in the mortgage servicing industry. Non-Uniform Foreclosures was inspired by a discussion on the rise in reverse mortgages being referred to foreclosure, as well as the processes for completing a foreclosure on tribal lands. Q: What prompted the need to write this white paper?
Much like lawyers needing to take a separate bar exam in each state they wish to practice in, real estate agents’ training and licensing requirements vary by state. With training courses for all 50 states and easily accessible online courses, The CE Shop is a value-packed resource for agents nationwide. We highly recommend The CE Shop.
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.
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.
In the letter, the caucus members argue that the pilot — which they said insinuates that title insurance is a “junk fee” — will cause “irreparable damage” to homeowners and mortgage lenders. A lack of title insurance “may expose homeowners and lenders to a heightened risk of future financial loss, or even the loss of their home,” they wrote.
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.
The former reverse mortgage team from Norcom Mortgage in Avon, Connecticut — which elected not to move to CMG Financial following its acquisition of Norcom last month — has selected Texas-based Supreme Lending as its new home, with John Luddy serving as SVP of reverse lending.
The merger of two industry leaders in sales training and coaching will result in a “unified super brand” that will be known as Sales Mastery Powered by Momentum Builder, the companies said in a press release. With more than 50 years of combined mortgage experience between them, Goettling and Fronti launched the Momentum Builder event in 2019.
Mortgage rates rising to 8% in October impacted the data line, which I spoke about on CNBC recently. We did have three negative revisions, which ran with the period when mortgage rates rose to 8%. We have seen three months of negative revisions on the data due to those higher mortgage rates. This is 12.2 percent (±15.6
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. He joined the Covius team in March of 2013 as SVP of Operations.
As any professional involved in it will know, bringing new people into the fold of the reverse mortgage business can be a difficult task. Reputational challenges , the narrow focus of the product and low mortgage market penetration are just a few of the reasons why. With the right ambassador, that task is made simpler.
The HousingWire Pulse Survey for Q4 2024 provides valuable insights into the current state of the real estate market from various perspectives: brokerage leaders, mortgage professionals, and real estate agents. Mortgage professionals : Lenders primarily consisted of loan originators and mortgage brokers, providing a perspective on financing.
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. It is very easy to add steps to a process, and overwhelmingly difficult to subtract them.
Wisconsin-based mortgage lender Waterstone Mortgage Corp. In addition, he will work with other teams to lead cross training and improve communication with both internal and external customers. In addition, he will work with other teams to lead cross training and improve communication with both internal and external customers.
To ensure the safety of your digital assets and sensitive information, it’s important to make sure all users are well-informed about cybersecurity and receive periodic training. To reduce risks , we’ll explore why empowering your team through education and training is essential to mitigate risks and keep your business secure.
Laura Escobar, president of Lennar Mortgage, has been appointed chair of the Mortgage Bankers Association (MBA) for 2025. Escobar is a 37-year mortgage industry veteran, She has held leadership positions with both bank-owned and independent mortgage companies overseeing all aspects of mortgage banking. since 2018.
New York-based multichannel lender US Mortgage Corporation is expanding its efforts in the reverse mortgage space, illustrating its focus on growth. The company recently hired reverse mortgage industry veteran Ken Krajewski to serve as its managing director and head of reverse mortgage lending.
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. ” Jason Bressler, executive vice president and chief technology officer at United Wholesale Mortgage (UWM), said. billion in mortgages in the period.
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