The founder of Clarifire in St. Petersburg, Florida, says automation continues to modernize the mortgage servicing industry. Jane Mason is the founder and CEO of the privately held, women-owned corporation that uses a Software-as-a-Service model to reduce manual processes and increase efficiencies. In January, leaders at Clarifire announced that Towne Mortgage Company, a full-service mortgage lender…
Dark Matter Technologies is expanding into the servicing market with a new offering. The platform, formerly Mortgage Builders’ CMS Servicing, is enterprise-level and cloud-based, with a full suite of loan servicing solutions. It offers customer service, payment processing and cashiering, escrow management, investor reporting, default management, and a white-label consumer portal for borrower self-service including…
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…
Mortgage servicers push homeowners to take on debt or burden them with needless paperwork requests after divorce or the death of an original borrower, according to the Consumer Financial Protection Bureau. Federal rules require mortgage servicers to help homeowners learn how to make payments and evaluate the possibility of a loan modification. But a new…
LoanCare launched a new suite of tools connecting homeowners with information about their home equity options. Digital Recapture provides lenders the ability to connect with homeowners looking for home equity and interest rate information. Lenders can act on leads in real-time, taking advantage of cash-out or rate/term refis and HELOC information that keeps homeowners apprised…
Servicing fintech Haven introduced Haven Wallet, a program that allows lenders to continue interacting with borrowers through the life of the line. Haven Wallet is a turnkey, digital experience that provides borrower engagement opportunities even after the loan is sold, fostering long-lasting relationships between homeowners and originators. It offers the following benefits: Borrowers access a…
Cornerstone Capital Bank named Paul Woo its new chief financial officer. Woo brings more than three decades of banking and financial services experience to the position, in which he will oversee the financial team, strategic planning, and capital management. “Throughout my career, working with high-performing teams and really great people has been a key part…
Former Mr. Cooper exec Jaime Gow joined fintech Sagent as its Chief Financial Officer. Gow brings decades of financial services and banking industry experience to the position. In his new role, he will oversee financial operations and strategic planning and help grow Sagent’s market share in the mortgage servicing industry. He previously served as CFO…
The Consumer Financial Protection Bureau proposed new servicing rules geared towards saving homeowners from foreclosure. If finalized, the proposal would require mortgage servicers to prioritize helping borrowers make payments over foreclosure. The Bureau is requesting comments on this topic and possible approaches to ensuring that servicers are producing accurate credit reporting data for borrowers undergoing…
The Consumer Financial Protection Bureau is taking aim at mortgage “junk fees” yet again, this time in the servicing sector. The bureau released supervisory highlights addressing what it classifies as illegal junk fees, such as prohibited fees, deceptive notices sent to homeowners, and violations of loss mitigation rules. “Homeowners cannot just simply switch providers if…
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