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…
Non-QM leader Angel Oak Mortgage Solutions released a new HELOC for the self-employed.
The Bank Statement HELOC allows qualified borrowers to retain their first mortgage while accessing their homes’ equity. It uses trailing 12- or 24-month bank statements as the deciding factor and provides a line of credit with no restrictions on usage.
This offer is available for owner-occupied homes, second homes, or investment properties.
American homes currently have $32 trillion in equity built up, a record high. Angel Oak says about 16 million people are self-employed, many of whom own homes they can’t extract wealth from through traditional avenues.
“Angel Oak’s commitment to alternative mortgage solutions has allowed us to establish our reputation as a leader and innovator within…
TD Bank has devoted about $20 billion to programs that serve diverse and minority communities, with a large chunk going to support residential lending.
Half of the designated funds are classified for residential lending for low- and moderate-income and/or minority borrowers, according to a press release.
This includes both first-time homebuyer and home equity loans, and particularly targets the Boston, Baltimore, D.C., New York, Miami, and Philadelphia markets.
“At TD Bank, we know our success is tied directly to the people and the communities we serve. When they flourish, we succeed,” said Leo Salom, President and CEO.
“One of our primary objectives as a purpose-driven bank is to help power economic opportunities that help low- and moderate-income, diverse, and underserved…
Community Mortgage Brokers is joining the mortgage platform UMortgage.
The Springfield, MO, brokerage will operate under the name UMortgage Springfield and act as a branch of the company.
It will benefit from UMortgage’s platform in return, expanding its offerings across its Missouri and Colorado offices while providing faster access to more affordable mortgages.
“We’re thrilled about the opportunities that we’ll be able to offer our clients with this partnership with UMortgage,” said Andrew Chavez, UMortgage Springfield Branch Manager.
“The UMortgage platform will empower us to offer more competitive rates, a wider range of loan products, and faster turn times to help give our clients more buying power and get into their homes quicker. These advantages not only make the homebuying…
ICE veteran Troy Coggiola has been named Chief Operating Officer (COO) at capital markets tech provider Polly, the company announced in a press release.
In his new role, Coggiola will head Polly’s product, implementation, support, and design teams.
The appointment comes on the heels of a year of record growth in both product innovation and industry adoption for the company, partnering with companies like MeridianLink and Curinos.
Coggiola brings more than two decades of mortgage tech experience to the position. He spent twelve years with ICE Mortgage Technology (then Ellie Mae Inc.), ultimately being named SVP of Product Development, where he helped grow the company into a leading SaaS provider.
He most recently served as Chief Product Officer for Accela,…
Katie Sweeney is stepping down as Chairman and CEO of the Association of Independent Mortgage Experts to helm the organization’s advocacy arm.
Sweeney is the co-founder and CEO of the Broker Action Coalition, AIME’s legislative advocacy group. She helped establish it in 2022 and told HousingWire it has “taken off like crazy,” requiring more time in Washington than she can devote while heading up another organization.
Because BAC had no separate leadership group, she and former AIME President of Advocacy Brendan McKay oversaw it while juggling multiple positions.
“I’ve spent the last 3.5 years building AIME into not only a major player in the mortgage industry but a well-represented community of professionals who now have a long-overdue voice,” Sweeney wrote…
United Wholesale Mortgage is rebranding its consumer-facing website to reflect a more modern approach to connecting consumers and real estate agents with independent mortgage brokers.
The website’s name, FindAMortgageBroker.com, will be replaced with Mortgage Matchup. Leaders at UWM say this gives the brand a modern and refreshed identity.
The site offers educational materials about the buying and refinancing processes, as well as a searchable database of brokers in their area.
UWM’s marketing team conducted the research and concept testing for the rebrand in-house.
“We are incredibly excited to further connect consumers and real estate agents with independent mortgage brokers across the country through this rebrand,” said Chief Marketing Officer Sarah DeCiantis.
“The DNA and mission of this website has not…
Anchor Loans launched a new Third-Party Originator channel that serves mortgage brokers, banks, private and non-QM lenders.
It provides residential business purpose loan products, including bridge, fix and flip, ground-up construction, and rental investor loans with debt service coverage ratio.
“Our new TPO program is designed to support and protect the strong relationships that exist between loan originators and their clients,” said Tim Landwehr, Co-Chief Revenue Officer at Anchor. He lead the design and launch of the new channel.
Home flipping remains at historic highs despite falling some in the last half of 2023. Investor profits are rebounding after a long run of declines, with raw profits increasing in Q3 last year.
“The comeback for the home-flipping industry is looking…
Doug Timmerman was named interim CEO of Ally Financial following the departure of Jeffrey J. Brown, the company announced in a press release.
Brown announced he would step down in October after fourteen years with the company, nine as CEO. He set his final day as January 31, or an earlier date as determined by the Chair of the Board.
Brown steered Ally toward mortgages and auto loans during his tenure, after the company rebranded from GMAC as part of General Motors.
As part of that mortgage push, Ally’s home lending arm partnered with HouseCanary to incorporate its portal ComeHome into its website.
“What began in 2009 as the financial reengineering of a company ultimately became a bank that truly…
