Housing Wire

SEPTEMBER 17, 2024

The San Francisco -based Unison calls its new offering the Equity Sharing Home Loan. But it also differs from a typical HEI by including qualification and repayment terms that are similar to a home equity loan or home equity line of credit (HELOC). The maximum combined loan-to-value ratio on the property cannot exceed 70%.

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Housing Wire

OCTOBER 27, 2024

The mortgage industry has long been promised a technological revolution to streamline workflows, reduce operational costs, and enhance efficiency. Yet, despite significant investments in new technologies, the cost to originate loans has dramatically increased. The human touch remains critical in mortgage lending.

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Technology Industrial Mortgages Development 448

Housing Wire

SEPTEMBER 18, 2023

Dark Matter Technologies , formerly Black Knight Origination Technologies, is focused on mainly two things: the smooth transition to new owners, and lowering the cost to originate loans for lenders. Read on to learn more about Dark Matter Technologies’ plan for mortgage. What opportunities did the firm see?

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Technology Mortgages Bankruptcy Industrial 501

Housing Wire

MAY 22, 2024

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

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Housing Wire

JUNE 5, 2024

Loan repurchases continue to trend downward at both Fannie Mae and Freddie Mac , but there appears to be a separation developing in loan-repurchase patterns — with Freddie reducing its loan buybacks at a faster clip than Fannie, according to recently released data and public filings.

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Loans Mortgages Industrial Principal 447

Housing Wire

JANUARY 8, 2025

This change driven by ICE Mortgage Technologys updated standards promises enhanced efficiency, cost savings, and future-proof workflows. GridBase is a proven leader in title and lending technology, offering a seamless, coding-free solution that simplifies migration while enhancing operational workflows. Heres how it works.

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Technology Title Lending Development 367

Housing Wire

OCTOBER 25, 2024

Mortgage technology startup Novaprime is making its public debut with the launch of an AI-powered loan platform that it claims allows lenders to sell loans to investors in just days, instead of weeks, all with a high degree of accuracy. Loan details needing attention are routed to a professional for a better borrower experience.

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Loans Investor Closing Lending 434

Housing Wire

MAY 21, 2024

will pay its loan officers 100% of the commission splits “without any per-file fees or other hidden fees,” according to co-founder and CEO Mike Kortas. NEXA usually pays loan officers 220 basis points (bps) out of 275 bps on most loans. “There are more ways to make money than on loan fees for a broker.

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Loan Officer Loans Brokerage Equity 459

Housing Wire

AUGUST 28, 2024

Tim Bowler, President of ICE Mortgage Technology, has a clear, specific vision for the future of ICE Mortgage Technology and the mortgage industry. We are committed to making the dream of homeownership a reality for more Americans and helping achieve this through user-friendly technology. Tim Bowler: Absolutely.

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Technology Industrial Mortgages Development 431

Housing Wire

JUNE 20, 2024

Real estate technology firm Knock announced Thursday that its bridge loan product is being integrated into the borrower application process at Baltimore -based NFM Lending. The bridge loan estimate is being integrated into the lender’s workflow through an Encompass plugin. The loan includes no interest for six months.

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Lending Loans Loan Officer Equity 448

Housing Wire

JANUARY 8, 2025

Real estate investment trust Redwood has expanded its home equity platform, Aspire, to include alternative loan products amid affordability challenges in the housing market, the company announced Tuesday. Through Aspire, launched in September 2023, Redwood directly originates home equity investments (HEIs).

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Housing Wire

APRIL 3, 2024

The plaintiffs claim they hired independent mortgage brokers, believing the wholesale channel was the best option for getting affordable mortgages because these professionals can shop around — a different model from loan officers employed by retail lenders. “As The wholesale lender called the accusations a “sham.” Escue, Billy R.

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Loans Loan Officer Mortgages Closing costs 482

Housing Wire

DECEMBER 17, 2024

The Consumer Financial Protection Bureau (CFPB) on Tuesday announced a final rule governing the Property Assessed Clean Energy ( PACE ) loan program. The rule applies existing protections for residential mortgages to borrowers who seek PACE loans to upgrade or renovate their homes through clean energy technology.

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Loans Mortgages Finance Lending 396

Housing Wire

OCTOBER 1, 2024

The three overarching themes in all of these conversations include: Operational efficiencies for delinquent accounts : QC teams are honing in on how effectively operational processes are managed for delinquent loans, from customer service to loss mitigation. One critical shift is the adoption of pre-funding QC reviews.

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Loans Pre-approval Marketing Staging 428

Housing Wire

NOVEMBER 15, 2024

Should the goal of marketing technology be to make it so that a loan officer never needs to log in? I started in the mortgage industry in 2015, working for large banks that were heavily invested in using technology to simplify the loan process for everyone involved. Ordering an appraisal was as easy as pushing a button.

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Loan Officer Loans Marketing Title 368

Housing Wire

NOVEMBER 11, 2024

New York-based digital mortgage lender Better.com launched a streamline refinance loan product on Monday that aims to help military veterans and service members save money on long-term interest expenses and closing costs. Better is now offering the well-known Interest Rate Reduction Refinance Loan (IRRRL) through the U.S.

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Closing costs Loans Closing VA loan 365

Housing Wire

SEPTEMBER 17, 2024

Global investment firm Carlyle has agreed to purchase up to $300 million of equity sharing home loans from home equity solutions provider Unison. Unison’s Equity Sharing Home Loan is a second mortgage with a below-market interest rate. As of second-quarter 2024, U.S. homeowners have $11.5

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Equity Loans Finance Mortgages 432

Housing Wire

DECEMBER 11, 2024

This rule amends the requirements for the sale of eligible single family mortgage loans insured by the [FHA] that have been assigned to the secretary of the U.S. Loan buyers must offer loss-mitigation options that are as or more generous than FHA loss mitigation options when buying loans through the program, according to the rule.

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Loans Sales Technology Inspection 397

Housing Wire

AUGUST 27, 2024

The update will also now allow 203(k) consultant fees to be financed for a limited 203(k) loan, and rehabilitation periods will be extended for both limited 203(k) loans (to nine months) and for standard 203(k) loans (to 12 months). The 203(k) offering has two separate programs. Updates have been made to both variations.

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Loans Renovation Principal Finance 448

Housing Wire

DECEMBER 12, 2024

Editor in Chief Sarah Wheeler sat down with Jeff Bell, president of both UpWell Mortgage and software company Uplist , to talk about how he thinks about technology, and the good news that the industry is turning a corner after two rough years. Sarah Wheeler: How does being an originator inform how you think about technology?

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Loan Officer Loans Technology Mortgages 370

Housing Wire

JANUARY 20, 2025

We actually need to manufacture the loan as quickly, compliantly and secure as possible and nothing more. Snyder: There’s a lot of really good vendors out there that provide a solution within that tech that is either user-based or loan-based and it just keeps adding up. And there really are not very many options out there.

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Technology Development Loans Branding 346

Housing Wire

DECEMBER 10, 2024

OneTrust Home Loans , a DBA of CalCon Mutual Mortgage LLC based in San Diego , Calif., The division is also strengthening its partnerships with builders and real estate professionals while establishing robust referral programs to connect reverse MLOs with forward loan teams.

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Lending Loans Mortgages Technology 369

Housing Wire

OCTOBER 23, 2024

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 loan officers to guide them through the process.

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Mortgages Loan Officer Loans Technology 459

Housing Wire

APRIL 9, 2024

Rocket Mortgage ’s bet on artificial intelligence (AI) has resulted in a patented platform called Rocket Logic, which can automatically process nearly 90% of data points extracted from documents in a month and reduce by 25% the number of times a professional interacts with a mortgage loan year over year, the company claims.

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Loans Technology Mortgages Finance 487

Housing Wire

OCTOBER 28, 2024

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.

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Inspection Mortgages Technology Lending 448

Housing Wire

MARCH 20, 2024

Intercontinental Exchange (ICE) launched a mortgage insurance (MI) center on its Encompass loan origination system, part of the company’s vision to to become a ‘ life-of-loan’ platform.

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Mortgages Technology Loans Industrial 459

Housing Wire

SEPTEMBER 26, 2024

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).

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Mortgages Loans Technology Branding 448

Housing Wire

JULY 11, 2024

Fintech firms Rocktop Technologies and LiquidFi on Thursday announced a milestone in their business partnership that was formed earlier this year. At the same time, LiquidFi — an asset tokenization platform for mortgage investors — has used its patented technology to create digital assets on more than $7.7 billion in UPB.

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Due diligence Mortgages Investor Technology 435

Housing Wire

JULY 11, 2024

By focusing on these technological advancements, Opteon not only improves the appraisal process but also offers significant competitive advantages to its lender customers. Opteon’s approach to data collection addresses these challenges by integrating cutting-edge technology with professional expertise.

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Lending Technology Industrial Loans 466

Housing Wire

MARCH 28, 2024

It’s amazing how many loan officers miss this, don’t return the call quickly, and lose their race before it’s even underway. This was a crisis for many large Independent mortgage banks that had created fine-tuned systems for refinancing loans and had virtually no trained sales force to prospect for new purchase money business.

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Mortgages Technology Loan Officer Loans 488

Housing Wire

OCTOBER 7, 2024

During slower periods, lenders should: Conduct thorough assessments of their QC programs Update policies and procedures Provide additional training to staff Implement new technologies to enhance QC processes By investing in these areas during downtime, lenders position themselves for success when the market inevitably picks up again.

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Lending Mortgages Technology Loans 459

Housing Wire

MARCH 28, 2024

The digital lender made changes in its commercial operating model to achieve this goal and will continue to invest in Tinman, its proprietary technology platform. The operating model change involved Better pivoting to hiring experienced loan officers on commission-based compensation plans. Better Home & Finance Holding Co. ,

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Loan Officer VA loan Loans Technology 459

Housing Wire

JANUARY 14, 2025

Wiener, who previously served as president of real estate services at Redfin , will lead Lowers technology, marketing, data science and direct-to-consumer sales organizations. He also has a background in technology , having worked for Microsoft as a lead program manager before Redfin.

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Loan Officer Technology Loans Title 370

Housing Wire

JULY 22, 2024

Dominic Iannitti, a veteran mortgage technology leader who founded DocMagic and served as its CEO, died July 18, according to a company announcement on Monday. Advancing the mortgage industry with new technology solutions is what we’re passionate about,” Iannitti told the MBA. “At Iannitti, 60, died due to complications from pneumonia.

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Technology Loans Mortgages Industrial 448

Housing Wire

JUNE 5, 2024

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, loan officer, processor, underwriter, they all ask the same thing: will AI replace my job?

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Mortgages Loan Officer Technology Loans 459

Housing Wire

SEPTEMBER 11, 2024

Michigan-based United Wholesale Mortgage (UWM) has launched proprietary technology that will use artificial intelligence (AI) to send pre-validated refinance opportunities. When borrowers have specific questions regarding rates or loan terms, that’s when a mortgage broker is connected to the client and walks them through options.

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Technology Loans Mortgages Finance 448

Housing Wire

OCTOBER 28, 2024

Moreover, the older the loan, the more likely the borrower would refinance elsewhere. 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.

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Loan Officer Pre-approval Technology Loans 434