By KIMBERLEY HAAS A total of 1,250 team members at Rocket Companies dove headfirst into the topic of leveraging generative AI during their most recent HackWeek. More than 250 experiments were tackled as these team members explored how technology can streamline the homeownership journey. They ranged from finding solutions for when buyers first start browsing…
By KIMBERLEY HAAS Leaders at United Wholesale Mortgage are doubling down on accusations that an explosive report released last week by Hunterbrook Media is inaccurate and tied to their main competitor, Rocket Mortgage. Authors of the report, published on April 2, claimed that $39 billion in mortgages were referred to UWM by independent brokers who…
By KIMBERLEY HAAS Leaders at United Wholesale Mortgage are lashing out after a bombshell report that was followed up with a consumer class action lawsuit filed on behalf of borrowers. Hunterbrook Media published the report on Tuesday, which claimed that $39 billion in mortgages were referred to UWM by independent brokers who sent more than…
By KIMBERLEY HAAS The CEO of a workflow automation company says she is trying to help the mortgage industry modernize by making it easy for servicers to adopt technology they can manage from the front end. Jane Mason is the founder of Clarifire in St. Petersburg, Florida. The company uses a Software-as-a-Service model to reduce…
By KIMBERLEY HAAS The CEO of a real estate technology company that helps homeowners buy a new house before they sell theirs says an equity crowdfunding campaign they launched last month has been well received. Sean Black, who co-founded Knock with Jamie Glenn and Karan Sakhuja in 2015, said during a recent interview with The…
By KIMBERLEY HAAS Foreclosure starts are up nationally and some industry leaders say that better financial literacy could help prevent homeowners from becoming distressed. Lenders started the foreclosure process on 22,575 properties last month. That’s up 11% from a year ago, according to the February 2024 U.S. Foreclosure Market Report by ATTOM. There were a total…
By KIMBERLEY HAAS In a move that was not surprising, members of the Federal Open Market Committee held the target range for the federal funds rate steady at 5.25% to 5.5% at their meeting this week. Inflation has eased over the past year but committee members do not believe it will be appropriate to reduce…
By KIMBERLEY HAAS The CEO of Land Gorilla says advancements in technology are creating opportunities for more profitable construction lending. Sean Faries said since the California-based technology service provider for banks, credit unions, and mortgage bankers started in 2010, there has been a move from spreadsheets to digitization. Land Gorilla is now taking things a…
By KIMBERLEY HAAS The president of Cornerstone Servicing says they are prepared for both ups and downs in 2024. Toby Wells said in a recent interview with The Mortgage Note that although industry leaders hope for improvements after a tough year in 2023, people are worried about how much financial pressure American homeowners are under….
The CEO of Dark Matter Technologies says they remain focused on streamlining processes for their clients as they work to revolutionize the mortgage industry. Leaders at the company, formerly Black Knight Origination Technologies, announced in September that they had rebranded after being acquired by the Perseus Operating Group of Constellation Software. Since that time, they…
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