Remove Retail Remove Technology Remove Tools
article thumbnail

Better’s AI bots might take over mortgages — but its losses are still piling up

Housing Wire

The New York-based digital homeownership platform saw its revenue take a dip as it continues to invest in artificial intelligence (AI) and build out its retail channel. Better’s earnings report also included the announced hiring of the executive team from NEO Home Loans to build out a distributed retail channel.

Retail 370
article thumbnail

Top cost-effective retail lenders produce loans at half the industry average: Freddie Mac

Housing Wire

The average cost for a retail mortgage lender to originate a loan reached $11,600 in the third quarter of 2023, up 35% — or nearly $3,000 per loan — when compared to fourth-quarter 2020, a period of low interest rates and high sales volume, according to a study published Tuesday by Freddie Mac. That’s 2.4

Retail 459
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Rethinking resident experience: Why consumer tech trends matter now more than ever 

Housing Wire

Industries like retail, banking, transportation and food service have undergone massive digital transformation in recent years by leveraging new technologies to enhance consumer experience. In fact, a recent report found that renters who are satisfied with technology are 17% less likely to plan a move.

article thumbnail

Smartfi hires industry vet Fiore to lead newly created retail reverse division

Housing Wire

San Diego-based Smartfi Home Loans , which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales. “I

Retail 448
article thumbnail

Uplist launches automated refi analysis tool

Housing Wire

Mortgage technology company Uplist has launched what it says is a killer new tool that will help loan officers 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. ”

Tools 435
article thumbnail

Guild acquires small retail lender Legacy Mortgage

Housing Wire

The lender originated approximately $309 million in mortgages in 2022, according to data from mortgage technology platform Modex. The company has 39 active loan officers across its retail branches, according to Modex data. The distributed retailer’s volume slipped to $2.7 Terms of that deal were also not disclosed.

Retail 397
article thumbnail

Better COO Chad Smith on ‘mind-blowing’ pace of tech leaps

Housing Wire

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. SW: Talking about technology, you guys made some big moves in 2024 with TinMan Marketplace and Betsy.