Mortgage tech company ReadyPrice launched an independent universal delivery portal, the company announced in a press release.
Independent mortgage brokers can source loans from multiple lenders, lock them in, and deliver them to borrowers on a single platform.
“Independent mortgage brokers are the core of our industry, and they’re needed now more than ever. They help thousands of borrowers navigate an increasingly complex economic environment,” said ReadyPrice Founder and CEO, Rick Soukoulis.
“Our universal delivery portal gives brokers what they need most—more time to focus on their borrowers, and more confidence that they’re delivering the best deals possible.”
The platform is powered by DataX, a proprietary data exchange system linked to the industry’s largest LOS. It can deliver loans for…
CBC Mortgage Agency is now offering USDA loans for borrowers in rural areas, the company announced in a press release.
The U.S. Department of Agriculture has approved CBCMA to provide USDA 30-year mortgages for borrowers outside of urban and suburban areas.
These loans offer 100% financing, so the company’s correspondent lenders can now help low- to moderate-income families in these areas achieve homeownership without having to empty their life savings for a down payment.
“Our lending partners can now help eligible borrowers buy a home with no money down instead of having to scrape together their own funds or take out a second mortgage for down payment assistance,” CBC Mortgage Agency President Miki Adams said.
“We are thrilled to receive…
By SCOTT KIMBLER
There are signs that Wells Fargo is recovering and will continue to be a key player in the banking industry.
Formerly the nation’s largest mortgage lender, leaders there announced in January strategic plans to create a more focused home lending business aimed at serving bank customers and minority communities. Those plans included exiting the correspondent business and reducing the size of the company’s servicing portfolio.
That news came just days before the company released their Q4 2022 results. Net earnings had fallen to $2.86 billion, or 67 cents a share. Leaders at Wells Fargo noted that the decline was driven by the fall-off in mortgage demand as home lending was down 57% from Q4 2021.
Now, Wells…
New American Funding and The Agency are partnering to meet the needs of The Agency’s clients, with NAF becoming the preferred mortgage lender of The Agency.
NAF, which marks its 20th anniversary in 2023, holds the distinction of being the largest Hispanic-owned mortgage lender in the U.S. Meanwhile, The Agency has earned global recognition as a rapidly growing luxury boutique brokerage.
“We are thrilled to be working closely with one of the most prestigious companies in real estate today,” NAF Co-Founder and CEO Patty Arvielo said.
“As one of the nation’s largest privately-owned mortgage companies, NAF is uniquely positioned to cater to the needs of The Agency’s clients nationwide. We look forward to evolving our partnership into an even stronger…
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…
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