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Tomo Mortgage closes $20M Series B funding round

Housing Wire

Tomo Mortgage on Tuesday announced the closure of $20 million in Series B funding that was led by three existing investors and a new participant. The funding round was led by prior investors Ribbit Capital , DST Global and NFX along with new investor Progressive Insurance.

Closing 360
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CFPB director open to changing mortgage regs to fix refi process

Housing Wire

The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. We’re also looking at identifying ways to jumpstart competition in certain closing cost categories, which can also help spur more activity.

Mortgages 476
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Optimal Blue PPE adds investor content from 54 state-based HFAs

Housing Wire

announced on Thursday that the Optimal Blue product, pricing and eligibility engine (PPE) has added investor content from 54 state-based housing finance agencies (HFAs). HFAs provide affordable homeownership options to low- and moderate-income borrowers through down payment and closing cost assistance, as well as reduced mortgage payments.

Investor 397
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Black Knight’s Expedite Close eClosing solution uses automation to select the best way to close each loan

Housing Wire

Black Knight is committed to helping all stakeholders involved in a real estate transaction move closer to a secure, paperless closing environment, while shortening the closing timeline to effectively reduce closing costs. The technology is easy to learn, cost-effective, and is fast to implement,” said Gagliano.

Closing 370
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If consumers aren’t holding lenders back, then who or what is?

Housing Wire

And while there is no legal limit on how many times a mortgage may be refinanced, closing costs and interest rate cycles effectively limit the number of times any given homeowner will pursue this option. Consider, too, that the pandemic has given consumers a big push when it comes to expanding their technology comfort zones.

Banks 505
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The title insurance industry prepares for battle

Housing Wire

First American executives noted that refinance revenue had declined 68% compared to a year ago, on the firm’s third quarter earnings call with investors, while Old Republic International Corp.’s s president and CEO Craig Smiddy told investors on his firm’s Q2 2022 earnings call that refinance activity had “dried up.”.

Title 505
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CoreLogic acquires closing solutions firm ClosingCorp

Housing Wire

Data analytics giant CoreLogic announced on Wednesday the acquisition of closing cost data and tech provider ClosingCorp. Previously, ClosingCorp integrated CoreLogic’s Property Tax Estimator into its SmartFees service and closing platforms in 2018. Further details of the acquisition were not disclosed.

Closing 397