Better launched a fully digital zero-down VA loan program designed to expedite and simplify the buying process for veterans.
Better Mortgage VA Loans offers home loans for up to 100% of the purchase price of a primary residence, with no down payment required. The company says they will be 40 bps cheaper than traditional VA loans.
It is available to eligible US Veterans, service members, and National Guard and Reserve members in all 50 states. In some cases, veterans’ spouses may also qualify.
“Better has brought the traditional mortgage into the digital era, launching our 1 Day Mortgage Product and funding over $100 billion of fully digital mortgages. With Better’s VA Loans, we are opening the door for even more…
The leader of an analytics business that provides technology for companies in the mortgage space says they are on a mission to set a new standard for data integrity and trusted automation.
According to Steve Smith, CEO and co-founder of BaseCap Analytics, there is a need industry-wide for clean, accurate records. By leveraging validation technology, companies can streamline internal processes and let their employees focus on activities that enhance productivity.
BaseCap Analytics can also help companies with regulatory reporting and compliance. The company recently announced a pilot with Cenlar FSB, the nation’s leading residential mortgage subservicer.
“We are pleased to pilot BaseCap’s solutions in an effort to strengthen our ability to comply with an increasingly complex web of mortgage servicing…
Joy Knoch has been promoted to Chief Strategy Officer at Fairway Independent Mortgage Corp., the company announced.
In this newly created role, Knoch will oversee origination and processing, training, and lending tech systems.
“Our goal is to use systems to streamline our loan manufacturing process and improve the loan experience for borrowers, loan officers, and realtors,” Knoch said. “We’ll do this by gathering input from producing L.O.s, operations managers, and our corporate team to create a more efficient roadmap.”
Knoch brings nearly three decades of mortgage industry experience to the position, having worked at Fairway since 2011 where she most recently served as senior vice president of loan processing and branch support. Prior to that role, she was the company’s…
Former Newrez exec James Hecht has been named the new CEO of OneTrust Home Loans, the company announced.
Hecht brings more than three decades of mortgage industry experience to the role, where he will oversee multiple mortgage lending divisions.
“I am honored to lead the lending and joint venture businesses within the OneTrust Family of Companies… The company has a strong, sophisticated foundation that is well beyond its current size and rivals some of the largest mortgage lenders in the country,” Hecht said.
He previously served as Head of Production and Executive Vice President for National Retail Lending at Newrez (formerly Caliber Home Loans.)
His other experience includes COO at Stearns Lending, and various leadership positions at Bank of America,…
Subservicer LoanCare has redesigned the website powered by its propriety software to be simpler and more consumer-focused.
The new myloancare.com has been engineered for quick interactions and self-service options ideal for easy interaction with homeowners. The company’s ultimate goal is to simplify the user experience.
“Our vision to make the mortgage journey straightforward for homeowners to navigate and lenders to manage continues to fuel our innovation,” said Dave Worrall, LoanCare president.
“This proprietary mortgage management platform was built with analytical insight, authoritative market research, and client collaboration. It is the latest demonstration of LoanCare’s commitment to providing an exceptional digital experience for our clients and homeowners.”
New features include easy communication with homeowners through their preferred method (text, email, or…
Tech-minded buyers can tour homes in virtual reality on the Rocket Homes app, now available on Apple Vision Pro.
The app features a home search page and map of nearby listings. The listings fill the user’s entire field of vision and give a realistic sense of the location and layout of the home, including a “Look Around” option that lets them see the neighborhood and exterior.
Listings that include 3D tours allow potential buyers to tour inside as well, seeing each room in detail.
“At Rocket Homes, we know there are millions of people who are waiting for the right moment to buy a home. We also know that there are many ways to find and fall in love with…
United Wholesale Mortgage is making a push for refinances as rates have moderated.
Company leaders announced Refi 100 this week, a temporary program allowing its broker partners to offer discounts of 100 basis points for conventional rate-and-term refinances. The discount can be applied to new locks through March 29.
Loans originated by UWM must be at least 365 days from the previous note date to qualify, but no seasoning is required for non-UWM loans.
The move comes at the beginning of what may be a good moment for refis, which saw a boost last week as rates moderated. They’re up by 2% and account for 34.2% of total mortgage applications, an increase.
In 2023, three million mortgages were originated at…
Rocket Companies has appointed an AI-oriented independent director to its Board of Directors, according to a press release.
The new addition, Alex Rampell, is a general partner at Andreessen Horowitz who focuses on fintech investments.
Described as a “serial entrepreneur,” he co-founded companies like Affirm, a leader in “buy-now-pay-later,” and TrialPay, a transactional advertising and payments company that was acquired by Visa in 2015.
Rampell now promotes the responsible use of AI, which he says will bring about a new era of transformation and disruption in the financial services space.
“When I heard [CEO Varun Krishna] speak about the AI tools Rocket is creating, and the massive amount of data at their fingertips, I was simply blown away,” said Rampell.…
Mortgage tech veteran Tony Fox has been named Chief of Client Engagement at Dark Matter Technologies, company leaders announced in a press release.
In his new role, Fox will direct Dark Matter’s account management and client success teams. He will report to Chief Revenue Officer Sean Dugan.
“I am thrilled to join Dark Matter and continue to work with a tremendous team and clients that I’ve known for years,” Fox said. “At Dark Matter, we’re on a mission to improve the mortgage process and optimize the workflow for lenders and their customers. I’m proud and grateful to be part of this vision for the mortgage market, and I couldn’t have found a better fit to continue my commitment to this…
By KIMBERLEY HAAS
The co-founder and CEO of a platform that provides cash flow based financing to real estate entrepreneurs says there are opportunities arising for commercial property owners and managers.
Derrick Barker said in a recent interview with The Mortgage Note that he predicts there will be a deleveraging throughout the nation in 2024, explaining that there were people who bought assets in 2021 and 2022 at the top of the market with aggressive assumptions in terms of occupancy, price appreciation, and rent growth.
Many of the loans were for three years so with expectations not panning out, that is putting pressure on those commercial and rental real estate owners, Barker said.
“A lot of these people are going…
