Fintech exec Varun Krishna has been named CEO of Rocket Companies, the parent company of Rocket Mortgage.
“I am honored to join the Rocket Companies team,” Krishna said in a statement. “Rocket has a rock-solid foundation and tremendous potential, with its comprehensive ecosystem and industry-renowned technology, strong brand, and award-winning client service. I look forward to working with Bill, the Board, and Rocket’s exceptionally talented team members to drive the company’s future success and create long-term value for our stakeholders.”
Krishna succeeds Bill Emerson, who has served as interim CEO since June when Jay Farner retired. Emerson will remain on the Board and work with Krishna throughout the transition.
Krishna officially takes over on September 5.
Krishna brings over two…
Clever Real Estate announced a suite of integrated products for lenders to protect their purchase pipeline, increase conversations, and close more loans.
Clever Pro is an all-in-one solution for mortgage lenders composed of five products. Each one helps lenders to drive higher profits and maximize performance, according to company leaders.
Tony Cahal, SVP of Clever Pro, said their team has built something groundbreaking.
“Clever Pro solves so many longstanding problems for lenders that hinder profitability and growth. We’re giving them trusted partners in every market nationwide, plus technology to manage the entire buyer journey, all within a single unified ecosystem,” Cahal said in a statement.
Pro Convert is geared towards boosting conversion rates by matching borrowers with Realtors who then…
Leaders at Rocket Companies have announced an expansion of Rocket Mortgage Canada.
The digital mortgage broker has become a mortgage lender. Using a tech-driven experience, clients can close faster than if they use the traditional paper-heavy process. Programs include a 5% down option.
Rocket Mortgage Canada, founded in 2020, is currently offering mortgage products in Ontario, where the company is headquartered. Company leaders plan to expand to additional provinces.
“The Rocket Mortgage brand is synonymous with innovation. For too long Canadian homebuyers have endured an inefficient and old way of financing a home that we are eager to transform,” said Hash Aboulhosn, President of Rocket Mortgage Canada. “As a lender, we are now able to impact every part of the…
Former CoreLogic exec Melanie Graper has been named chief human resources officer at loanDepot, the company announced in a press release.
Graper will lead all aspects of the company’s human capital function. She succeeds Kevin Tackaberry, whose departure was announced last month, and will report to President and CEO Frank Martell.
“I’m excited to be joining loanDepot at such a pivotal time in the industry and look forward to partnering with Frank and the executive team to deliver an exceptional experience for loanDepot employees, customers, and shareholders,” said Graper.
Prior to loanDepot, Graper’s most recent position was with CoreLogic as chief human resources officer from 2019 to February of this year and she served on its executive committee.
Graper’s other…
Snapdocs’ eClose and Notary Scheduling have integrated, accelerating closing speed by at least 1.5 days through this “first-of-its-kind integration,” leaders at Snapdocs say.
The integration, Connected Closings, creates efficiency for Snapdocs and settlement companies through automatic document sharing, eliminating time-consuming manual tasks.
It provides real-time updates on the signing appointment, notary search, and closing documents. It also directs borrowers to electronically sign documents, which they sign prior to their closing appointments 90% of the time.
“Lender and settlement workflows have historically been completely fragmented, resulting in errors and wasted time. This industry-first innovation is a win-win for both parties,” said Snapdocs Chairman and Founder Aaron King.
“Lenders feel more in control with visibility and access to the real-time information around…
As technology improves, mortgage lenders are looking for ways to work more efficiently and the vice president of customer success at Snapdocs says the adoption of digital closings improves bottom lines and consumer satisfaction.
Snapdocs uses patented AI technology and research performed by the California-based company suggests mortgage lenders can save more than $400 per loan by using eClose technology, according to a press release.
Todd Maki recently sat down with editor Kimberley Haas to talk about their product and the role artificial intelligence plays in the process.
Haas: Tell me some of the things that pop up the most often, some of the challenges you face.
Maki: We’re focused on digital closings with the lender side where we focus…
HomeZada has launched an AI Chat Assistant, Zada.
HomeZada is a cloud-based digital home management company created in 2012. Zada will be added to the company’s suite of apps designed to make buying and managing a home simple, according to company leaders.
Homeowners can ask questions about maintenance, remodeling, insurance, finances, and the real estate process at large, and receive information directly on the app.
“HomeZada’s mission is to allow homeowners to access all of the data about their largest financial asset in one place. Integrating Zada AI Chat with HomeZada’s already-robust blend of unique apps, content, and data gives our customers even more of the latest information they need to maximize the value of their homes and save money,…
Simon Chen has been named the new president and CEO of equity-minded buy-first lender Arrival Home Loans.
“So thrilled to be joining such a great group of people at Arrival Home Loans and Pacific Private Money Inc. to make private money real estate borrowing and investments available to ALL!” he wrote in a LinkedIn Post.
Chen brings more than two decades of experience in real estate, operations, and venture capital to the position. Before AHL he served as a Managing Partner at August Gill, an advisory firm for startups and capital providers. He will stay on there as an advisor.
His other experience includes EVP of Product and Innovation at Anywhere Real Estate, and president and CEO of one of…
Carrington Mortgage Services expanded its offerings to include 40-year loans and temporary buydowns as homebuyers prioritize affordability in today’s tough market.
The lender said it aims to offer greater affordability to homebuyers, especially first-timers, buyers who are in the process of improving their credit, and those with non-traditional incomes.
“At Carrington, it’s our company’s mission to enable a lifetime of simple and attainable homeownership,” said Greg Austin, EVP of Mortgage Lending for CMS. “For homebuyers looking for greater affordability, our 40-year loan and temporary buydowns are options that we are proud to offer.”
Broad offerings are especially important in the age of gig work and side hustles.
One study found that gig workers make up a full quarter of the…
By KIMBERLEY HAAS
Leaders at Rocket Pro TPO have announced a new loan level pricing adjustment tool and the executive vice president says it is the result of listening to feedback from their partners.
Mike Fawaz sat down with The Mortgage Note on Monday to talk about Target Profit Control, which eliminates misquoting or loan adjustment oversights by applying systematic profit levels.
Fawaz said that before Target Profit Control, correspondent brokers were tracking files manually.
“Now, you have the ability to set your target profit per loan officer and you no longer have to really go into every single file manually. It’s now set on a loan officer basis,” Fawaz said. “It is an innovative technology. It’s something that is…
