Housing Wire

OCTOBER 13, 2023

Two top-20 mortgage lenders in the United States may combine forces amid the most challenging market in decades. CrossCountry Mortgage is in talks to acquire Fairway Independent Mortgage Corp. The talks remain ongoing and are not believed to be in the late stages, sources said. mortgage lender, originated $13.37

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Housing Wire

SEPTEMBER 25, 2024

A judge in Arizona granted Mat Grella, the former president of NEXA Mortgage , a motion to dismiss a lawsuit filed by the company. NEXA has accused Grella of causing the failure of a $24 million hangar-office property purchase and the brokerage firm is preparing to file an amended complaint. As of Wednesday, NEXA was the largest U.S.

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Housing Wire

MARCH 15, 2021

Josh Friend : Amid this global pandemic, mortgage rates have been at historically low levels, borrower demand has increased, refi’s have broken records and lenders have had to shift in many instances to a remote workforce. Retail lenders originate loans through their in-person retail branches. According to the J.D.

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Housing Wire

OCTOBER 6, 2020

Talk to any mortgage technologist about the future of the industry and two topics will emerge immediately: big data and smarter automation. Joe Camerieri, EVP Mortgage Cadence. Today, while the mortgage industry has the technology to support this, we’re still in the early stages of determining how it should be used.

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Housing Wire

NOVEMBER 20, 2024

Executives at mortgage lenders anticipate a minimum 20% increase in credit reporting costs in 2025 compared to 2024. FICO), the company behind the widely used consumer credit-risk assessment methodology, announced an increase in its wholesale royalty for mortgage originations from $3.50 In early November, Fair Isaac Corp.

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Housing Wire

DECEMBER 16, 2020

The Adwerx Enterprise Platform is the only digital advertising solution designed specifically for mortgage brokerages and their loan officers. Reach home buyers before real estate agents with individualized, compliant ads for loan officers, built automatically. Adwerx Enterprise Platform. Get More Info.

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Housing Wire

MARCH 15, 2024

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. Assisting homebuyers and their agents adds more to an LO’s plate.

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Housing Wire

DECEMBER 22, 2023

Facing a challenging housing market can be daunting for agents and loan officers alike. I’ve seen every market shift imaginable as an agent, team leader and executive in the brokerage , mortgage and proptech space. These are the mindset and actions that set successful agents and loan officers apart in a down market.

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Housing Wire

AUGUST 26, 2024

Proptech HomeLight has raised $20 million to expand the offering of its Buy Before You Sell product to mortgage lenders and real estate agents across 40 new states, the company announced on Monday. Zeev Ventures , an early-stage venture fund, led the Series D extension, and was joined by Stereo Capital and Menlo Ventures.

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Housing Wire

FEBRUARY 27, 2024

California-based New American Funding (NAF), which recently acquired Draper and Kramer Mortgage Corp. Last year, she produced about $78 million in mortgages, consisting mainly of Federal Housing Administration (58.8% of the total) and purchase loans (93.5%), according to the mortgage tech platform Modex.

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Housing Wire

JANUARY 22, 2024

Top-35 mortgage lender New American Funding (NAF) is in negotiations to acquire Chicago-based retail shop Draper & Kramer Mortgage Corp. The sources said negotiations are in the late stages and remaining details are expected to be finalized this month. Mortgage tech platform Modex shows $8.2 Draper and Adolph F.

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Housing Wire

FEBRUARY 2, 2024

Most of last year’s top-producing loan officers at Draper and Kramer Mortgage Corp. HousingWire reported on the late-stage negotiations in January.) “The This is reflected in data collected by the mortgage tech platform Modex and the Nationwide Multistate Licensing System (NMLS). billion in mortgages in 2023.

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Housing Wire

MAY 8, 2023

I was tired of fighting with mortgage lenders about self-employment income, high-interest rates , and dealing with scarce inventory that fit our family’s needs. My father had been diagnosed with stage four liver failure at that time, and we were aggressively looking for a home so he could move in with my family. I was beyond done.

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Housing Wire

SEPTEMBER 16, 2020

A well-qualified buyer these days can find a mortgage at historically low interest rates. But that’s not good enough for United Wholesale Mortgage CEO Mat Ishbia. So if the numbers work for them and they want the lowest rate , they can do that and the mortgage brokers can figure out what works for them and get that deal for them.

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Housing Wire

APRIL 1, 2024

Today’s unique market requires flexibility and a pricing engine that empowers lenders and their loan officers to put the right loan products in front of borrowers. HousingWire spoke with Parvesh Sahi, chief revenue officer of Polly , about the importance of having the right PPE and strategic pillars that facilitate LO success.

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Housing Wire

JUNE 20, 2024

A few weeks later the Mortgage Bankers Association released its Quarterly Mortgage Bankers Performance Report , underscoring my point with some truly grim figures. And employment verification is just one of dozens of mortgage cost centers. To combat this, loan officers must be incentivized to embrace innovation.

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Housing Wire

FEBRUARY 14, 2024

A majority of homeowners must sell their current home before they can qualify for a mortgage on their next home due to federal lending requirements around debt-to-income and down payments. Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies.

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Housing Wire

JUNE 16, 2023

SimpleNexus , a homeownership platform developer for loan officers, borrowers, real estate agents, and settlement agents, announced this week a new integration with Empower, the loan origination system (LOS) from Black Knight. ” SimpleNexus , an nCino company, is a developer of mobile-first technology for mortgage lenders.

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Housing Wire

DECEMBER 12, 2022

That intelligence allows the lender to proactively address curative issues in concert with other early-stage workflow steps. Halfway down, you are alerted that a vested owner was found on title that may need to be added to the loan application. And there are other primary and secondary mortgages tied to the consumer.

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Housing Wire

SEPTEMBER 12, 2024

In a recent episode of the “Real Estate Insiders Unfiltered” podcast, co-hosts James Dwiggins and Keith Robinson chat with HousingWire Lead Analyst Logan Mohtashami to discuss a variety of issues — including pending concerns of a recession , mortgage rates and housing affordability issues that persist across the country.

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Housing Wire

DECEMBER 21, 2022

Given the record evidence at this stage, loanDepot is likely to succeed in showing that the Defendants misappropriated trade secrets,” judge Chang wrote. In July 2022, loanDepot sued the rival again for allegedly poaching high-performing loan officers from its New York branches. billion in business.

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Loan Officer Staging Loans Mortgages 432

Housing Wire

NOVEMBER 29, 2021

The supply-chain bottleneck afflicting the global economy has its own counterpart in the world of residential mortgage-backed securities, also referred to as RMBS. One group of industry players — loan underwriters — are the chief cause of the logjam. They don’t underwrite every loan in an MSR trade,” he explained.

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Due diligence Loan Officer Loans Mortgages 486

Housing Wire

NOVEMBER 1, 2023

Rates for a 30-year, fixed-rate mortgage are the highest in over 20 years and may stay elevated for some time. As borrowers reel from the sticker shock of conventional mortgages , lenders could see a surge of demand for alternative lending products, such as adjustable-rate mortgages (ARMs), for the first time since the financial crisis.

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Housing Wire

OCTOBER 9, 2024

Mortgage tech firm Candor Technology has expanded its Loan Engineering System (LES) to include Federal Housing Administration (FHA) loans. The company now fully automates underwriting decisions for FHA loans — minus collateral – and also offers a warranty on income calculations and cleared conditions for funded FHA loans.

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FHA loan Loans Technology Loan Officer 446

Housing Wire

OCTOBER 1, 2024

However, the most recent ACES Mortgage QC Industry Trends Report found critical defect rates jumped up in the first quarter (Q1) of this year. Not only does this break a five-quarter-long downward trend, but this uptick in defects happened at a time when mortgage originations were at their lowest levels since 2000.

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Loans Pre-approval Marketing Staging 405

Housing Wire

MAY 11, 2023

Flueid , a leading technology company specializing in real estate transactions, announced on Thursday the integration of its patented Flueid Decision platform with Encompass by ICE Mortgage Technology.

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Housing Wire

APRIL 25, 2023

The goal of Asset Analysis is to automate the labor-intensive process of reviewing assets and multiple bank statements during underwriting to determine the likelihood that the borrower will have sufficient funds to cover down payments, closing costs, and reserves for the mortgage transaction.

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Housing Wire

AUGUST 31, 2020

Indecomm approaches automation by looking at practical applications for the technology across the entire mortgage lifecycle, using a framework called the automation continuum for mortgages. State of Mortgage Automation. Indecomm’s Automation Continuum. That is where supervised automation comes in.”.

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Lending Technology Loans Loan Officer 435

Housing Wire

NOVEMBER 7, 2024

Finance of America (FOA), the reverse mortgage industry’s leading lender, announced its third-quarter 2024 earnings results on Wednesday evening. Fleming also mentioned the company’s future plans, highlighting the recently reshaped HomeSafe Second second-lien reverse mortgage product.

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Housing Wire

MAY 7, 2023

We had a lot of drama over the week between Federal Reserve meetings and banking stress, and mortgage rates and purchase applications both fell. Mortgage rates fell last week as we started the week at 6.73%, got as low as 6.43% to end the week at 6.5%. Mortgage rates fell to a low of 6.43% then ended the week at 6.5%.

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Housing Wire

OCTOBER 4, 2024

DY: In order to apply generative AI to the mortgage industry, it has to be 100% accurate — no hallucinating. So, we would ask the consumer to provide those additional documents, knowing that once the consumer started a mortgage application an underwriter will have to ask those questions anyway. SW: What differentiates your technology?

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Technology Loan Officer Mortgages Industrial 425

Housing Wire

OCTOBER 19, 2022

HousingWire recently spoke with Mike Darne, vice president of marketing at CreditXpert, about how mortgage lenders can leverage credit to help make homeownership more affordable. Mike Darne: This may be the most peculiar time in history for the mortgage and housing sectors, especially when it comes to affordability. Guessing is first.

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Loans Mortgages Loan Officer As-is 459

Housing Wire

OCTOBER 7, 2020

“The market remains underserved in the sense that the mortgage lending market has changed so quickly that everyone is still trying to keep up,” Stone said. Decades of experience had taught him how to build an enterprise that could help move the mortgage industry into the 21st century and help rebuild the nation’s economy.

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Housing Wire

SEPTEMBER 30, 2020

The Origence Mortgage Platform is an end-to-end lending platform that puts the power of modern technology in lenders’ hands, enabling them to close more loans, faster. The flexible, scalable technology of the Origence Mortgage Platform allows lenders to expand, customize and adapt their lending experience to their borrowers’ needs.

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Lending Mortgages Technology Loan Officer 198

Housing Wire

OCTOBER 12, 2021

Purchasing a home is one of the biggest investments most people will make in their entire lives, but the complexity of securing a mortgage can be a grueling and fractured process for first-time homeowners. Digital transformation has taken every other industry by storm, and it’s time for the mortgage industry to catch up.

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Lending Technology Loans Industrial 365

Housing Wire

APRIL 18, 2023

In a cyclical mortgage industry, hedging is key to maintaining a buffer against losses. Since launching as a call center in 2003, the California lender has expanded into the outside distributed retail model with a target on the purchase mortgage market, serviced its own loans and developed its tech stack in-house.

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Housing Wire

SEPTEMBER 8, 2023

If you’re in the real estate industry, you certainly know that the average time from mortgage application to closing has been hovering around 50 days. It’s not a point of pride or badge of honor for any mortgage, title, real estate or valuation firm. But most understand that there are a lot of phone calls, emails and texts exchanged.

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