Digital lender Lower acquired proptech real estate portal Movoto. Lower says integrating Movoto will extend its reach as well as offer agents and LOs “unmatched growth” through an end-to-end platform. Movoto.com, which logged 150 million visits in 2024, connects consumers with local agents. Under Lower, it will now also pair borrowers with a loan officer,…
Juan Cepeda has been appointed as Chief Operating Officer at Panorama Mortgage Group. In his new role, Cepeda will spearhead the company’s daily operations, with a special focus on optimizing its processes and improving efficiency. “We are thrilled to welcome Juan to the team,” said Jason Madiedo, Panorama’s CEO. “His deep industry expertise and proven…
United Wholesale Mortgage is partnering with Google Cloud to modernize the mortgage lending industry through the use of artificial intelligence. The companies will collaborate by combining Google Cloud’s AI and data analytics with UWM’s “expertise in innovative lending technical solutions” to streamline the borrowing process. “We are incredibly proud to enter into this transformative partnership…
Bank7 has acquired First American Mortgage, expanding its mortgage presence across its locations in the South and Midwest. Company leaders say the acquisition aligns with Bank7’s commitment to growth and innovation, solidifying its position as a leading community-focused bank. “First American Mortgage has always been committed to providing exceptional service and streamlined mortgage solutions. Partnering…
West Virginians have the lowest mortgage payments in the U.S., driven by historically low house prices. That’s according to the latest data from Realtor.com, which found that though rates are locked in near 7%, they vary widely by state. The median monthly payment in West VA was $1,838, assuming a 6.96% rate. Nationally, the median…
Diverse Mortgage Services has officially launched its operations. DMS is one of the nation’s first Certified Minority Business Enterprise mortgage servicers, according to a press release. Founded by Chuck Sanders, a former running back for the Pittsburgh Steelers, DMS is the second mortgage services company he has grown since becoming an entrepreneur, having founded Urban…
Kind Lending launched a new broker reward initiative that lets its partners access exclusive benefits and elevate their businesses. The Top Dog Program offers three tiers. As Good Dogs, brokers gain access to pilot participation in new programs, helping them stay ahead of the curve and maximize their potential. Big Dogs get one early payoff…
Ally Financial is winding down its mortgage origination business, saying its borrowers are struggling with debt. The company will also cut less than 5% of its workforce. They have about 11,000 employees. “As we continue to right-size our company, we made the difficult decision to selectively reduce our workforce in some areas, while continuing to…
Digital lender Lower launched a new mortgage origination platform with the help of Neat Labs’ proprietary technology. The company acquired Neat Labs, an end-to-end mortgage origination software company that has originated more than $1 billion in loans since its founding in 2015. Steve Herschleb, co-founder and CTO of Neat Labs, will join Lower as its…
Blue Sage Solutions is now the first LOS to fully integrate Fannie Mae’s Income Calculator. This is an API-enabled integration, fully initiated from the LOS, that streamlines income calculation for self-employed borrowers or those with income from business ownership. With this data, lenders can now get faster, more accurate mortgage approvals. Fannie Mae offers rep…
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