Fidelity National Financial Names Chief Artificial Intelligence Officer

Title insurance provider Fidelity National Financial is upping its technology game by naming a Chief Artificial Intelligence Officer. Chief Digital Officer Jason Nadeau takes on an expanded role in the position, focusing on incorporating AI into the company’s operations and client experience. He will add this focus to his original duties as Chief Digital Officer. “FNF’s overall technology vision has always included emerging technologies,” said Mike Nolan, CEO of Fidelity National Financial. “We have been a leader in leveraging digital technologies, machine learning, and AI at scale to service clients and customers. Nadeau will continue to ensure FNF takes full advantage of the new capabilities AI can bring to our business.” Nadeau joined FNF in 2018 and has shaped the…

Sandra Ho Named Home Lending Head At Wells Fargo

Industry expert Sandra Ho is joining Wells Fargo as its head of Home Lending Sales, the bank announced. Ho will take up this newly created role starting May 28, 2024, leading Wells Fargo’s Consumer Direct and Distributed Sales organizations. They were previously under separate leadership. Coming from JPMorgan Chase, Ho brings significant leadership experience in the lending space to the position. She will report to Serhat Oztop, head of Sales and Retail Transformation for Wells Fargo Home Lending. She most recently served as Managing Director in the Consumer and Small Business Payments division.  “With more than 15 years of experience in banking and financial services, Sandra brings a broad range of skills that will be key in helping advance Home…

Tim Whittier Named President Of First Home Mortgage

Tim Whittier has been named president of First Home Mortgage, the lender announced in a press release. “I am honored to step into the role of President at First Home Mortgage. Since joining the company, I have been impressed by our blend of extensive support, cutting-edge technology, vast resources, and the agility of a smaller organization,” he said. “I am committed to preserving our structure and swift decision-making processes, which have been key to our success. Open communication and collaboration are vital, and I am dedicated to fostering an environment where every voice is heard. I look forward to working closely with our clients, partners, and team members to achieve even greater heights.” Whittier, who began his career in 1992,…

UWM Makes Major Announcements Including A 0% Down Payment Program

United Wholesale Mortgage rolled out a new 0% down payment program, alongside several other major announcements during its annual broker event this week. The down payment program is geared towards borrowers struggling to save for a down payment. This is one of the biggest challenges facing new buyers struggling under rampant inflation and soaring household debt. “UWM’s 0% Down Purchase program is going to change the game this purchase season,” CEO Mat Ishbia said in a statement. “No other wholesale lender in the country is offering this, meaning independent mortgage brokers now have a significant advantage with consumers and real estate agents. Thousands of borrowers are sitting on the sidelines because they don’t have a down payment – this program…

Chase Lending Ups Closing Guarantee To $20K

Chase Home Lending increased its Closing Guarantee from $5,000 to $20,000 in a bid to entice buyers impacted by the affordability crisis. The Closing Guarantee commits to an on-time closing in as soon as three weeks or eligible customers get $20,000. This limited-time offer is available for qualifying customers purchasing a home with a Chase mortgage until July 27, 2024. Funds can be used to discount underwriting fees paid at mortgage closing or pay down the interest rate and down payment. “Current market dynamics have impacted the affordability of homeownership for many Americans, and at the same time, competition has only increased,” said Sean Grzebin, head of Consumer Originations for Chase Home Lending. “We’re focused on the things we can…

Guaranteed Rate Hosts Free Education Event In Chicago

Guaranteed Rate will host a free financial education day in Chicago, the first of its “RateUniversity” offerings. The event will take place on May 19, 2024, at the Ramova Theatre in Chicago. Attendees will learn about homeownership through presentations on critical topics like credit and differing mortgage products. Bilingual workshops, in both English and Spanish, will be available for attendees of all ages, from high schoolers to adult professionals– “anyone who wants to achieve homeownership,” the lender said. Performers will entertain attendees as well, including breakdancers, mariachis, and visual artists. “We’re not just hosting a community event; we’re launching a movement toward informed, accessible homeownership,” said Camilo Escalante, Executive Director of Diverse Segments at Guaranteed Rate.  “This level of comprehensive,…

Ben Rempe Named President Of myCUmortgage

Ben Rempe has been named president of myCUmortgage, a leading Credit Union Service Organization. Rempre will take over starting June 3, 2024. He brings more than two decades of credit union and financial services experience to the position, mostly recently serving as SVP of Credit Unions at the National Cooperative Bank. His other experience includes COO of LenderClose, VP of Business Development at TMG Financial Services, and Director of Business Development for Community Business Lenders. Rempe also founded and led the startup Rebel Structured Finance, which serviced more than 300 credit unions and raised more than $11.5 million in capital. “Since 2012, I have been partnering with myCUmortgage and Wright-Patt Credit Union. From the onset, I have encountered visionaries laser-focused…

Zillow Launches “BuyAbility” Tool For Home Shoppers

Zillow Home Loans launched a new tool to help buyers gauge whether they can afford a home. Users input their income, credit score, and monthly budget. BuyAbility then offers buyers a real-time estimate of the price and monthly payment on a home they’re considering, personalized to their specific budget. It also gives users an idea of whether they could qualify for a loan on a specific property. The program operates on real-time mortgage rates from Zillow Home Loans, so users can check back regularly to see how their finances stack up as the market changes. “What many people don’t realize is that your mortgage rate is highly dependent on your credit score. The better your credit score, the lower the…

UWM Reports Positive Q1 Earnings, New Record For Purchases

UWM Holdings Corporation, the parent company of United Wholesale Mortgage, reported positive Q1 2024 results, including a company record for purchase originations. The company saw total loan origination volume jump by 13.1% from last quarter, soaring to $27.6 billion. That’s up 23.76% YOY.  Of that total, purchases accounted for $22.1 billion, a first-quarter record for the company. UWM’s net income was $180.5 million, including a $15.6 million decline in the fair value of MSRs and diluted earnings per share of $0.09. “We continue to see positive results from our strategy and investments. Both volume and margin are strengthening and we delivered increased volume performance relative to the fourth quarter of last year,” Chairman and CEO Mat Ishbia said. “Even more…

Fannie Mae Enhances Income Calculator For Self-Employed Borrowers

Fannie Mae enhanced its Income Calculator tool to give self-employed borrowers a leg up. The new and improved calculator is now available at FannieMae.com for lender use at no additional cost. It is also built into CoreLogic’s Income Analyzer service and PointServ’s Digitally Sourced Data service. It builds on the GSE’s existing Income Calculator, introduced in 2023, which automates the calculation of self-employment income during the underwriting process. It uses tax return data to identify income using Selling Guide requirements, then returns a monthly qualifying income amount, plus recommended actions to help lenders avoid document and calculation mistakes. “Whether through our new web-based user interface or through an integrated technology service provider, Fannie Mae’s Income Calculator simplifies the process of…