Lender Toolkit partnered with income analysis provider Blueprint to launch Prism, an AI-driven income calculator.
Prism, which integrates with Encompass by ICE Mortgage Technology, shortens cycle times and increases profitability by streamlining the income process, according to company leaders.
Blueprint creates advisories that are automatically uploaded to Prism as loan conditions. If income is used that is outside of the recommended calculations, AI Underwriter generates conditions advising the underwriter. All types of income can be analyzed, including income based on bank statements for self-employed borrowers. Prism then automatically syncs the results with the correct income fields in the borrower’s Uniform Residential Loan Application in Encompass.
“At Lender Toolkit, we understand the challenges faced by mortgage lenders—particularly in today’s market, where…
KeyBank and non-profit Operation HOPE have teamed up to empower underserved Americans who want to own homes, the companies announced in a press release.
An Operation HOPE financial coach will be placed in KeyBank’s East Delavan branch in Buffalo, NY, to provide education and programming to anyone at no cost.
“By joining forces with Keybank, we can expand Operation HOPE’s reach and impact, bringing financial education and resiliency to those who need it the most. Together, we are creating a pathway to financial success and homeownership, empowering individuals and families to build a better future for themselves and their communities,” said John Hope Bryant, Founder, Chairman and CEO of Operation HOPE.
Through this partnership, anyone in Buffalo can access personalized…
Mortgage tech company Haven Servicing appointed Daniel Wallace as its new CEO, while current CEO Jonathan Chao will transition to Chief Product Officer.
Wallace joins Haven from blockchain financial company Figure Technologies, where he served as General Manager of Lending. They became the largest non-bank originator of HELOCs under his leadership.
His other experience includes CEO of FirstKey Mortgage, managing partner at Capital Crossing, and managing director at Lehman Brothers.
“The mortgage industry is in a transformative period. With 85% of outstanding mortgages having a rate below 5%, and application volumes at 30-year lows, engaging with existing borrowers is more important than ever. Haven enables all stakeholders to remain connected with their borrowers, throughout the life of their loan,” Wallace…
Digital origination tech company Mortgage Machine Services launched an all-in-one loan origination system.
Mortgage Machine, named to mirror the company and developed by industry pro Jeff Bode, is designed to improve lenders’ operation times and support an end-to-end digital origination process, according to company leaders.
The system consolidates disjointed operations through workflow automation and compliance assurance. It features AI-powered task automation, a scalable cloud-based infrastructure, and flexible API capabilities, as well as pre-configured workflows tailored for retail and wholesale loan processes.
It also provides end-to-end support throughout the lending, underwriting, documentation, and closing of a residential mortgage loan.
“The LOS is the operational linchpin for every mortgage business, but most LOS platforms on the market today were not designed to…
Black Knight Origination Technologies has rebranded to Dark Matter Technologies after being acquired by Perseus Operating Group.
Optimal Blue, Black Knight’s secondary market solutions and actionable data services business, was acquired by Perseus, part of Constellation Software Inc., in July. Dark Matter will remain in Florida and keep key executives.
“We’re excited to invest in this industry leader and to bring the impressive product roadmap to life. The leadership, the talented teams, the strong customer relationships — Dark Matter Technologies has everything we look for in an acquisition,” said Tom George, co-president of the Romulus portfolio of Perseus, who led the acquisition with Bonnie Wilhelm, COO of Perseus.
The sale of the unit follows Constellation’s acquisition of Black Knight’s loan-origination…
CV3 Financial Services, a private lender providing financing for fix-and-flip and rental properties in more than 20 states, was recently launched and CEO William Tessar says they aim to be leaders in the business purpose loan industry.
Tessar, who is the former president of Civic Financial Services, has a team behind him that originated and funded more than $10 billion in private money loans over the last five years. That includes 150 originators, operations, and business support staff, according to a press release.
CV3 Financial Services is based in Los Angeles County. Using a digital lending platform, all processing, underwriting, and funding is completed under one roof.
Tessar recently sat down with Editor Kimberley Haas to talk about his career,…
Dan Hanson has been named executive director of enterprise partnerships and acquisitions at loanDepot, the lender announced in a press release.
In this newly created position, Hanson will spearhead new revenue opportunities, such as national referral relationships and acquisitions, as well as collaborate with senior leadership to boost profitability.
He will also work to expand loanDepot’s existing programs and partnerships, such as its employer benefits program and Lender Express offering, which provides mortgage products to credit unions and other financial institutions hoping to fill out their offerings.
“Through the execution of our Vision 2025 plan, we’ve done the hard work to ensure we can continue to address the impacts of the current market downturn and still invest in our platform,”…
Leaders at Guaranteed Rate have announced their latest speed-centric mortgage product, the 5 Minute Approval.
Borrowers can sign their initial application package and upload documents at Rate.com. Then, once the approval comes through (in five minutes or less), they can continue their homebuying journey and close on a property in as few as 10 days. 5 Minute Approval is available for purchase and refi transactions with at least 3% down.
Guaranteed Rate President and CEO Victor Ciardelli said the company has already approved more than 100 loans within five minutes through its completely automated process.
“And we’re now the only lender in the entire country setting this new standard,” Ciardelli added.
“Consumers deserve lightning-speed service powered by modern technology platforms.…
Industry veteran Nino Saso has been named Chief Production Officer of US Mortgage Corporation, the company announced in a press release.
In his new role, Saso will oversee sales, expansion initiatives, innovation, and boosting market presence across the country.
“I am honored to join US Mortgage Corporation at this exciting juncture,” Saso said. “The mortgage industry is rapidly evolving, and I look forward to partnering with the talented team here to capitalize on new opportunities, enhance customer experiences, and drive sustainable growth.”
He brings more than three decades of mortgage industry experience to the position. Prior to US Mortgage, Saso served as SVP Divisional Sales Manager at Nations Lending.
Saso has also held leadership roles at Mutual of Omaha Mortgage,…
Cash offer fintech Flyhomes announced it is acquiring “buy before you sell” leader Home Sale Assured.
Home Sale Assured, a platform owned by Innovative Holdings, LLC, is known for its Guaranteed Backup Contract, which allows homeowners to confidently purchase their next house before selling their own.
Flyhomes will acquire the Home Sale Assured brand, and founder Eric Meadow will join the company as a senior executive.
“Eric is a seasoned mortgage professional who has built something really special with the Guaranteed Backup Contract,” Tushar Garg, co-founder and CEO at Flyhomes, said. “Its ability to remove friction from the buying and selling process, while adding assurance, flexibility, and customer-centricity, aligns perfectly with our core tenants here at Flyhomes. This deal strengthens…
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