Housing Wire

NOVEMBER 30, 2021

Lenders have come to appreciate the benefits technology can bring – but those benefits are only useful if the implementation of new tools doesn’t make the loan process more complicated. Information is routed from the borrower to the loan origination system and vice versa, with the solution providing prompt feedback.

Loans 370

Loans Pre-approval Loan Officer Mortgages 370

Housing Wire

APRIL 13, 2023

Simplifile by ICE Mortgage Technology electronically connects people, technologies and data in the real estate transaction to streamline their workflows. After county review and approval, documents are quickly stamped and recorded for public record.

Technology 369

Technology Mortgages Pre-approval Closing 369

Housing Wire

JUNE 22, 2023

Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C. This approach allows The Loan Store to offer same-day approvals and HELOC funding in as little as three business days after final approval.

Loans 370

Loans Pre-approval Equity Lending 370

Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for. Or, give up looking altogether.

Pre-qualification 468

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 468

Housing Wire

SEPTEMBER 16, 2024

“This program will take care of the training, coaching and licensing, and deliver licensed loan originators (LOs) back to our broker partners who will be ready to originate loans, contribute to the growth of the wholesale channel and help even more consumers across the country,” Mat Ishbia, president and CEO at UWM, said in a prepared statement.

Pre-approval 473

Pre-approval Loans Mortgages Technology 473

Housing Wire

NOVEMBER 30, 2022

The solution leverages the power of innovative, integrated technologies to not only simplify the mortgage application and approval process for borrowers, but also to improve the backend process for loan officers. Borrower Digital is further enhanced with Black Knight’s companion solution Loan Officer Digital.

Loan Officer 435

Loan Officer Pre-approval Technology Loans 435

Housing Wire

SEPTEMBER 20, 2022

HousingWire recently spoke to Donna Gibson, COO and president of QC Ally, about fraud prevention and loan quality outlook for the rest of 2022. HousingWire: In this time of market change and as we head towards the last quarter of 2022, what are the hot topics in risk, fraud prevention and loan quality?

Loans 370

Loans Marketing Lending Pre-approval 370

Housing Wire

DECEMBER 13, 2024

While buyback volumes remain well below their 2022 peak, they are still elevated compared to pre- pandemic levels. The added cost pours salt in the wound for credit unions, banks, and independent mortgage bankers , who are already recording average pre-tax losses of $534 per loan origination.

Pre-approval 370

Pre-approval Investor Loans Technology 370

Housing Wire

JUNE 20, 2024

The fourth quarter of 2023 was the seventh straight quarter of net production loss for lenders , who hemorrhaged an average of $2,109 pre-tax dollars for each loan they originated. To combat this, loan officers must be incentivized to embrace innovation. Reward good behavior at the individual level.

Loan Officer 448

Loan Officer Pre-approval Technology Lending 448

Housing Wire

JANUARY 18, 2022

” Per the company’s website , it takes five minutes to receive a pre-qualification for a mortgage, though final approval is conditional on finishing the application and providing supporting documents. Milo said that it has originated millions of dollars in loans and has had applicants from over 63 countries. “As

Mortgages 501

Mortgages Pre-qualification Pre-approval Lending 501

Housing Wire

JULY 16, 2021

Venture capital investors including Zillow founder Spencer Rascoff and Trulia co-founder Pete Flint, believe that Tomo has the potential to topple the legion of lenders that have increased market share, invested heavily in technology and lapped up record profits in recent years. history, follows a pre-seed round of $40 million.

Lending 476

Lending Pre-approval Mortgages Closing 476

Housing Wire

SEPTEMBER 14, 2020

Low interest rates have kept refinance loan volumes robust, but no one knows for how long. The mortgage industry, in general, has lagged behind other industries in terms of maximizing the benefits of new technologies. Once we get the information required to issue a Loan Estimate, the clock starts ticking. Sadly, that’s not true.

Lending 488

Lending Mortgages Technology Loans 488

Housing Wire

JANUARY 14, 2021

It says it brings new transparency to the process by eschewing the traditional broker commission, typically 1.15% of the loan. Through its digital platform, Own Up handles the application process and receive a fee of 0.40% of the loan amount from the lender.

Pre-approval 381

Pre-approval Loans Technology Branding 381

Housing Wire

SEPTEMBER 21, 2023

Guaranteed Rate ’s PowerVP mobile app aims to enhance loan originators’ ability to keep in constant contact with customers anywhere, at any given time — 24/7. G-Rate will provide 2% of the required 3% minimum down payment for a conventional loan or up to $2,000 — whichever is lower. Agents submitting an offer at 8:30pm?

Pre-approval 435

Pre-approval Loans Finance Mortgages 435

Housing Wire

JANUARY 4, 2024

But for a technology executive, coming in at a time like that is where you get to pull back and calibrate with the executive team on what’s really important. As a 14-year-old company, there’s a lot of technology and it was a great opportunity for me to come in and look at the foundational technologies the company was built on.

Technology 450

Technology Loan Officer Pre-approval Loans 450

Housing Wire

MAY 12, 2022

Technology has been the focal point of that evolution more out of necessity than some consensus that homebuyers don’t want to interact with their lenders at all. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. This is not an Amazon order.

Lending 370

Lending Marketing Pre-qualification Pre-approval 370

Housing Wire

SEPTEMBER 26, 2023

The API, which utilizes Loan Product Advisor (LPA) AIM independent of an LPA submission, enables Freddie Mac-approved sellers and third-party originators to get a preliminary view of a borrower’s qualifying asset, income and employment before submitting a full application to LPA.

Pre-approval 433

Pre-approval Mortgages Loans Industrial 433

Housing Wire

JANUARY 26, 2022

As the mortgage world becomes more technologically interconnected, the risks to cybersecurity, data and infosecurity increase. According to a Q4 analysis by MISMO-certified wire and prevention fintech FundingShield, 42% of loans reviewed by the fintech firm had at least one risk finding, and of those loans, an average of 2.1

Industrial 370

Industrial Pre-approval Title Technology 370

Housing Wire

SEPTEMBER 30, 2021

The loan production process can be incredibly complex, as well as time-consuming. The platform’s mobile-first approach enables lenders to close more loans through on-the-go origination tools while also delivering the modern convenience that today’s consumers have come to expect. Technology is evolving, and borrowers expect more.

Pre-approval 397

Pre-approval Loans Staging Closing 397

Housing Wire

OCTOBER 5, 2021

HW: What are some challenges lenders are facing when it comes to streamlining loan applications, particularly in this heavy purchase environment? Geoff Green: Streamlining loan applications should be getting easier as more and more mortgage technology enters the marketplace, but that is not always the case.

Mortgages 363

Mortgages Pre-approval Lending Loans 363

Housing Wire

FEBRUARY 21, 2023

How origination modernization benefits lenders The mortgage application and pre-approval processes have been digitized for some time, to the benefit of borrowers and lenders alike. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork. 60% cited speed.

Pre-approval 370

Pre-approval Technology Title Loans 370

Housing Wire

FEBRUARY 23, 2023

Patrick O’Brien, the founder and CEO of LenderLogix , said the product was designed in response to the need for a more efficient and cost-effective method of managing the loan application process. When the application is complete, the loan originators give borrowers a customized needs list and a secure document upload link. “As

Pre-approval 393

Pre-approval Loans Closing costs Branding 393

Housing Wire

DECEMBER 6, 2022

Headquartered and founded by Trent Hedge and Marco Monteiro earlier this year, the firm’s unified stack offers a white-labeled interface that can pre-fill loan applications in addition to instantly verifying income, assets and pulling credit, according to its website. .

Pre-approval 370

Pre-approval Mortgages Banks Loans 370

Housing Wire

SEPTEMBER 2, 2021

It also allows sellers access to a network of pre-approved buyers to expedite the process. HomeLight claims that it has built a “faster application and underwriting process” that allows the company to guarantee that it can close a loan in 21 days with “zero lender fees and transparent rates.”.

Pre-approval 414

Pre-approval Investor Technology Equity 414

Housing Wire

NOVEMBER 18, 2022

The deal was quickly met with resistance from trade groups and investors voicing antitrust issues – the two giant suppliers of mortgage loan origination software would harm competition in the mortgage tech solutions market. billion a year prior, with adjusted pre-tax earnings of $400 million, compared to $669 million a year ago.

Title 435

Title Pre-approval Investor Mortgages 435

Housing Wire

AUGUST 7, 2020

Because as loan officers, they believe that there’s nothing better than a broker channel, and to them this is most important for their consumers,” said Kortas. “We We then make sure we’re absolutely looking out strongly for the loan officers, they trust us that we’re constantly making it better in everything we’re doing.”.

Mortgages 370

Mortgages Loan Officer Lending Pre-approval 370

Housing Wire

DECEMBER 20, 2022

When the refi market dried up in 2022, business took a drastic turn for Thuan Nguyen, CEO of Loan Factory and the top loan originator on the Scotsman Guide for the last two years. I think I built a very good system – good process and good technology. I close about 60 loans a month only. I cut [my team] down a lot.

Loan Officer 74

Loan Officer Loans Pre-approval Technology 74

Housing Wire

SEPTEMBER 27, 2021

Exponentially increase your loan officers’ origination potential without incurring additional expense? Examiners such as the CFPB and FDIC provide stringent oversight of digital activity, and mistakes can cost you and your loan officers dearly. Sounds too good to be true, doesn’t it?

Loan Officer 370

Loan Officer Loans Pre-approval Development 370

Housing Wire

OCTOBER 29, 2021

Uday Devalla, EVP, Chief Technology Officer at Sagent. According to MBA, industry retention is only 21% because data and communication gaps erode customer trust at the two most important parts of the relationship: (1) when they first go from originations into servicing, and (2) when they need a new loan. .

Pre-approval 397

Pre-approval Loans Technology Land 397

Housing Wire

AUGUST 23, 2023

Better plans to be a mortgage marketplace that sells its technology platform to other companies. “Our Better partnered with Palantir to create the proprietary loan platform Tinman Marketplace in August 2022. It also dealt with the bad press after Garg laid off employees via Zoom in December 2020.

Closing 370

Closing Pre-approval Finance Title 370

Housing Wire

JANUARY 25, 2023

Embattled digital lender Better.com launched a program that will allow customers to apply for a mortgage, get pre-approved, lock their rate and receive a mortgage commitment letter within 24 hours. It raised $905 million across several funding rounds and received a $750 million loan from SoftBank in 2021.

Pre-approval 397

Pre-approval Mortgages Finance Loans 397

Housing Wire

FEBRUARY 10, 2022

The ‘housing super app,’ according to investor slides filed with the Securities and Exchange Commission, will provide mortgage pre-approval, “immersive shopping,” facilitate in-person touring, and home financing. billion in revenue.

Pre-approval 418

Pre-approval Mortgages Agents Finance 418

Housing Wire

AUGUST 27, 2021

The story, “The secret bias hidden in mortgage-approval algorithms,” included statements from fair housing activists who concluded that there is “systemic racism” in the mortgage process. The result here is that borrowers who have FICO scores below, say, 720 with a high loan to value (LTV) will often find a better deal by going to the FHA.

Debt-to-income ratio 448

Debt-to-income ratio Purchase and sale agreement Pre-approval Loans 448

Housing Wire

MARCH 4, 2021

Fintech company Plaid has announced the release of Income, a beta product looking to simplify income verification so customers can secure loans, qualify for mortgages, rent apartments, lease vehicles, and more. Plaid’s technology enables apps to connect with users’ bank accounts.

Finance 300

Finance Pre-approval Banks Investor 300

Housing Wire

JULY 5, 2023

With the hearing’s postponement, all related pre-hearing deadlines are extended by 75 days. Black Knight also sold its loan origination system, Empower , to a subsidiary of Canada’s Constellation Software Inc. ICE initially announced the merger with its rival, mortgage software firm Black Knight, in May 2022.

Pre-approval 367

Pre-approval Loans Mortgages Closing 367

Housing Wire

AUGUST 31, 2020

Even as lenders make significant investments in new technology and digital infrastructure, they continue to struggle with increasing costs per loan and time-to-close metrics. And it’s Day 1 Certainty approved.”. But we don’t. PRODUCT: AutomatIQ Borrower.

Pre-qualification 320

Pre-qualification Pre-approval Loan Officer Loans 320

Housing Wire

AUGUST 29, 2022

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. billion in loans over the first six months of 2022 — for total proceeds of $871.7 UWM’s loan production income of $296.5

Loan Officer 435

Loan Officer Loans Equity Mortgages 435