Housing Wire

SEPTEMBER 10, 2024

Rocket Companies , the parent of Rocket Mortgage , has set ambitious goals to increase market share by 2027 using its multichannel reach, its origination and servicing flywheel, and its advanced technology platform. We are unique in the sense that we’re building what we consider to be an elastic technology platform,” Krishna said.

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Housing Wire

JULY 31, 2024

Department of Housing and Urban Development (HUD) visited the University of Alaska at Fairbanks to tout the possibilities that 3D printing technology could bring to the construction of affordable housing in the U.S. Beyond HUD, the university and the city of Nome, other partners include the Alaska Housing Finance Corp. ,

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Housing Wire

APRIL 24, 2024

Almeida Realtor- Team Leader The American Dream Group Coldwell Banker Abhishek Shende Senior Principal Software Engineer Zillow Group Adi Pavlovic CEO Newzip Alnur Kassim-Lakha Director Mile Rock Capital Amy Macken Senior Vice President, Due Diligence Operations Consolidated Analytics Anaid Chacón Senior Vice President of Product Argyle Mortgage Arkadiusz (..)

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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. ” Jason Bressler, executive vice president and chief technology officer at United Wholesale Mortgage (UWM), said. People who use AI will replace your job.”

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Housing Wire

AUGUST 14, 2024

According to Inside Mortgage Finance (IMF), SPS was the 20th-largest U.S. billion in unpaid principal balance (UPB). According to Fitch, the servicer integrated “several digital technologies into its servicing platform to enhance the customer experience and adjust to the shifting technology landscape.” In the U.S.,

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Housing Wire

SEPTEMBER 1, 2023

Through the development of improved and sophisticated systems, protocols and technology, these operations leaders are driving their companies to growth and success. In its 8th year, the HW Insiders program is spotlighting the talented operations professionals who are laying the foundation of success for their organizations.

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Housing Wire

MAY 10, 2024

Consistent with prior transactions, investors will benefit from a two-year revolving period during which they can reinvest their principal payoffs to purchase additional newly originated loans. The deal drew significant interest from institutional investors. Barclays Capital was the sole entity responsible for structuring the deal.

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Housing Wire

MARCH 15, 2024

So why aren’t more commercial real estate (CRE) entities – investors , principals, banks, law firms or developers – seeking the same? A significant opportunity To be sure, there are title agencies eager to partner with CRE principals and funds. Market conditions have certainly trended downward for residential or commercial real estate.

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Housing Wire

OCTOBER 13, 2021

has raised $175 million to accelerate growth and fund new technologies , just 16 months after relaunching its operations. Principals of the private holding company StoicLane led the round, the firms said on Wednesday. Last year, Interfirst relaunched its services with a new proprietary loan origination technology platform.

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Mortgages Loan Officer Investor Loans 428

Housing Wire

MAY 31, 2021

Senate Finance Committee. His list of accomplishments includes being the principal drafter of the mortgage forbearance program enacted through the CARES Act, which reshaped the mortgage industry and enabled more than 4 million homeowners to hit the pause button on their mortgage.

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Housing Wire

MARCH 5, 2024

Sanjiv’s depth of experience in mortgage finance, consumer understanding and thought leadership will serve our company well as we continue to grow and evolve our business strategy and operational platform,” Stephen G. A mortgage industry veteran, Vas has served since October 2023 as the president of tech company Pagaya Technologies Ltd.,

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Housing Wire

NOVEMBER 2, 2023

This was the first earnings delivered by Rocket’s new CEO, Varun Krishna , who focused his conversation with analysts on the potential of artificial intelligence (AI) and other technologies to transform the business. Rocket’s servicing book unpaid principal balance, which includes subserviced loans, was $506 billion as of Sept.

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Principal Loans Technology Mortgages 448

Housing Wire

FEBRUARY 22, 2024

It’s scary out there,” a technology leader at a top lender said anonymously, adding that there were recent cyberattack attempts at his company. According to the tech leader, “it feels like there’s a target on mortgages,” which makes sense considering the types of data and documents these companies deal with. “We

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Housing Wire

AUGUST 12, 2022

Fannie Mae has launched its fourth reperforming-loan sale of the year — an offering of 6,130 loans with an unpaid principal balance of $997 million. million in unpaid principal balance; pool 2 is at $342.5 As the mortgage world becomes more technologically interconnected, the risks to cybersecurity, data and infosecurity increase.

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Housing Wire

APRIL 24, 2024

Thanks to our strategic emphasis on technology, including years of investment in AI and the cloud, Mr. Cooper is well positioned to provide our customers with world-class service, operate as a trusted counterparty for our industry stakeholders, and grow and sustain investor returns.” billion in unpaid principal balance (UPB).

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Housing Wire

DECEMBER 15, 2021

The Bitcoin-backed mortgage product accepts Bitcoins and properties as collateral for loans to clients that want to purchase new real estate or finance a property they already own. According to Ledn, if Bitcoin prices drop, the client needs to deposit more collateral or pay down some of the principal.

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Housing Wire

JANUARY 8, 2021

Department of Housing and Urban Development and as the principal executive vice president of Ginnie Mae. It’s an industry that spends a considerable sum every year on technology and innovation. “We’re going to be looking at closing instructions and other interoperability mechanisms to exchange data more seamlessly.

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Housing Wire

AUGUST 2, 2021

More than just breaking records in the housing finance space, the HousingWire 2021 Women of Influence are shattering glass ceilings and leaving a legacy for years to come. Finance of America Reverse. Vice President of Technology Services. Nexsys Technologies. Finance of America Companies. Ashley Smith. Briana Ings.

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Housing Wire

MARCH 7, 2024

Finance of America Companies (FOA), parent of leading reverse mortgage lender Finance of America Reverse (FAR), narrowed its quarterly loss to $20 million and posted an overall improvement in its earnings to $164.7 She said that new investments in technology and messaging will help to bridge the gap for potential clients.

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Housing Wire

DECEMBER 29, 2023

The decline in mortgage rates in November helped financially strained homebuyers, according to ICE Mortgage Technology ‘s latest Home Price Index data. of the median household income to cover the principal and interest payment on a median-priced home, down from 40.3% As a result, mortgage demand ticked up as well last month.

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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). FHA has also updated its FHAC guide to provide details for these changes.

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Housing Wire

OCTOBER 26, 2021

A source told Bloomberg that the latest financing – split between $28.5 Tom Richardson, head of strategic capital principal technology investments at Wells Fargo Strategic Capital, said in a statement that the capital “will help them achieve their business goals and continue to expand their product offering.”.

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Housing Wire

JANUARY 12, 2024

In my framework, there are three broad buckets: Making purchase possible/financing Transaction and process improvements Post-purchase maintenance and value management We can quibble on the words, but the spirit is clear. On the one hand, finance in general is a very well-established category with data-driven rules and clear processes.

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Housing Wire

DECEMBER 14, 2022

Mortgage Industry Standards Maintenance Organization (MISMO), the organization tasked with developing standards for the mortgage finance industry, appointed vice president of operations Jan Davis as its acting president. Department of Housing and Urban Development (HUD) and principal executive vice president of Ginnie Mae.

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Housing Wire

NOVEMBER 7, 2023

The company also increased its agents count by 4%, reaching 14,055 principal agents in Q3. That’s a 4% year-over-year increase of 511 principal agents since Q3 2022 and a 3% increase of 422 agents compared to the second quarter of 2023.

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Housing Wire

SEPTEMBER 9, 2021

Lenders that may have been holding out on embracing automation and technology were forced to adapt at breakneck speed to continue to serve customers. Technology that had long been available, but never saw the level of adoption the industry would have hoped for, was now in high demand. Technology as the new table stakes.

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Mortgages Technology Inspection Closing 448

Housing Wire

AUGUST 4, 2022

Hernandez will be joined by by Faith Schwartz, the CEO and founder of Housing Finance Strategies , a strategic advisory firm that serves banks, mortgage companies, nonprofits and fintech companies. million loans with an unpaid principal balance of more than $1.2 Register for the event here. 4 appeared first on HousingWire.

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Housing Wire

JULY 15, 2021

Online mortgage marketplace Morty announced the close of a $25 million Series B financing round, pushing the total company valuation to $150 million. In the end, the company makes money by charging a fee off the principal of the loan — paid for by the lender. The company is currently licensed in 36 states and Washington D.C.,

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Housing Wire

MARCH 2, 2021

The SPAC news comes just weeks after DOMA announced $150 million in debt financing, which founder and CEO Max Simkoff said would help Doma “wipe the system clean” and build an efficient, digital homebuying system from scratch. Generally accepted accounting principal (GAAP) revenues are expected to be around $226.4 million in 2021.

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Housing Wire

APRIL 27, 2023

Financial wellness technology company EarnUp reached a new milestone last quarter, helping millions of Americans schedule mortgage, auto, and student loan payments through its Payday to Payday program and technology. The company says it processed more than 50 million payment transactions worth $43 billion in total as of Q1 2023.

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Housing Wire

JANUARY 10, 2022

PennyMac Financial Services announced today that it’s launching a new technology platform for its broker channel, and it has rebranded its broker division from PennyMac Broker Direct to Pennymac TPO. ” The timeline for the platform’s launch has not been made public. As of Sept.

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Principal Lending Technology Loans 397

Housing Wire

JUNE 6, 2024

ADUs create new housing opportunities in existing neighborhoods, expanding the housing supply while building homeowner equity,” David Driskell, principal at CPC, said in a statement. Last month, a Las Vegas-based housing technology startup received approval to sell factory-built ADUs in California.

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Housing Wire

MAY 27, 2022

The CFPB issued a statement to warn creditors that technology being “too complicated” is not an excuse for noncompliance. Under it, institutions would establish policies, practices, procedures and control systems to ensure their AVMs comply with applicable nondiscrimination laws, the bureau said.

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Housing Wire

SEPTEMBER 1, 2023

primary mortgage servicers in the second quarter of 2023 , according to Inside Mortgage Finance data. billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. Pennymac Loan Services was ranked No. 5 five among the top U.S. Its servicing portfolio grew to $576.5 The company estimates its market share at 4.3%

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Housing Wire

AUGUST 21, 2023

In the same filing, RE/MAX announced that it had let go of Adam Grosshans, the firm’s principal accounting officer, as part of the reorganization. She was also appointed as RE/MAX’s new principal accounting officer. ” RE/MAX laid off 17% of its staff , roughly 120 employees, a little over a year ago. million a year prior.

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Housing Wire

MAY 1, 2023

For instance, with higher-priced mortgages, lenders need to verify the consumer’s ability to repay, ensure there is no prepayment penalty and make sure escrow taxes and insurance payments are paid each month along with the loan’s principal and interest. That’s a lot of calculations and obligations just for federal compliance.

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Housing Wire

JUNE 14, 2022

The Federal Housing Finance Agency released voluminous plans last week developed by Fannie Mae and Freddie Mac to make the housing market more equitable, in part through changes to the appraisal process. According to Freddie Mac’s equitable housing finance plan, it could be the expansion of automated valuation models.

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