Fintech Figure Technology Solutions introduced a combined lien and eNote registry service for private and wholesale lenders.
The company’s Digital Asset Registration Technologies system allows lenders to originate, pledge, and sell loans through a monitoring service that ensures the smooth progression of asset transfers. It is designed as an alternative to Mortgage Electronic Registration Systems.
The company calls it a “pivotal solution for mortgage processing” that can save lenders time and money by eliminating manual work and document processing.
“Offering DART to our partners represents a transformative opportunity in the mortgage industry, helping to usher in an era of digitization and expedited transactional processing,” said Jackie Frommer, Figure president.
“We believe that expanding the use of DART technology through our…
Jeff Fonda is joining financial tech solutions company Nymbus as its new Chief Financial Officer.
Fonda brings a deep well of experience to the position, having expertise in fintech, SaaS, and executive-level leadership.
His experience includes VP of Finance at Mortgage Cadence, a cloud-based digital lending platform. He also spent many years in leadership positions for financial planning and analysis across several companies.
Prior to Nymbus, Fonda served as CFO of DotCom Therapy, a telehealth therapy company.
“Jeff’s proven track record in financial leadership at high-growth companies aligns perfectly with our mission. His expertise will be instrumental as we expand our partnerships with banks and credit unions, providing them with accessible solutions to move beyond the constraints of traditional banking…
POS provider Floify launched a one-stop lending platform for brokers, Floify Broker Edition.
The platform is built on the foundation of the Floift POS platform and features rule-based automation to promote efficiency. It also provides a borrower-friendly interface that boosts application pull-through.
Floify says brokers can use Broker Edition in place of a traditional loan origination system or add it to their preferred list of products.
“Floify Broker Edition is born out of a deep understanding of the unique challenges faced by mortgage brokers, which include juggling a burdensome administrative workload, regulatory compliance, and multiple technologies with minimal support,” said Floify President and General Manager Sofia Rossato.
“The platform is designed to make mortgage lending easier and more cost-effective while…
CoreLogic and Experian Verification Solutions have teamed up to enhance CoreLogic’s AutomatIQ Borrower Verification of Employment and Income.
Four different verification options are now available, allowing lenders to create custom waterfall verification solutions with individual objectives.
“People are at the heart of every mortgage transaction, and we want to ensure lenders are equipped with the most comprehensive solutions to bring clients a positive experience,” said Jay Kingsley, President of Mortgage Solutions, CoreLogic.
AutomatIQ now includes Experian Verify, giving lenders instant access to income and employment information, and Borrower Assisted Payroll, which lets borrowers submit their information on a vendor website for quick verification.
These are in addition to The Work Number and manual verification, both of which were previously offered…
Banking platform Blend is betting on IMBs with its latest offering, a bare-bones, low-cost product for small lenders.
Blend IMB Essentials, a stripped-down version of Blend’s mortgage suite, provides the features necessary for retail independent mortgage banks to succeed in today’s market.
Small lenders can pay for just the features most critical to their banking needs, reducing the cost burden of cloud banking technology.
IMB Essentials includes Blend’s famous application process, soft credit pulls for cost savings, hard credit pulls, automated conditions management, and real-time loan pricing and scenarios. Customers whose businesses grow can also easily scale up to Blend’s full offering later.
“This is a historic time for our industry. The mortgage market is grappling with the effects of…
Software company Hawthorn River is teaming up with fintech BeSmartee to integrate its financial spreading product, FlashSpread.
FlashSpread uses Optical Character Recognition, AI, and proprietary algorithms to transform raw data into a Debt Service Coverage Ratio with the press of a button. This allows lenders to make credit decisions quickly and with confidence.
“Hawthorn River is about creating meaningful efficiencies for community banks,” said Jon Rigsby, CEO of Hawthorn River. “Our partnership with BeSmartee and the integration of the FlashSpread product ensures these institutions can focus on their core mission – serving the banking community – by automating and simplifying the financial spreading process.”
Lenders can upload scanned tax returns, get instantaneous spreading of financial data with potential errors or…
Dan Kellett has been named Chief Technology Officer of the data and workflow solutions company FirstClose.
In his new position, Kellett will oversee FirstClose’s technology and strategy regarding applications, data, cybersecurity, and infrastructure.
“It’s exciting to join FirstClose at this time of immense change, challenges, and innovation in the mortgage industry,” Kellett said. “FirstClose’s focus on providing a true digital home equity experience makes this a unique opportunity, and by expanding the ecosystem leveraging our platforms and provider network, we’ll increase our speed of adoption which will keep us at the forefront of mortgage innovation.”
Kellet brings more than a decade of software engineering and leadership experience to the position. Prior to FirstClose, he served as Head of Technology and…
Document automation platform Ocrolus has integrated OpenAI’s GPT into its tech, the company announced in a press release.
The move gives Ocrolus more power to process semi-structured and unstructured documents like bank statements, pay stubs, and mortgage applications without the need for human oversight.
Ocrolus’s platform uses multiple forms of AI from Amazon, Google, and its own proprietary deep learning architectures to allow lenders to automate with ease. It can create it own training data in-house to keep its algorithms on the cutting edge as they engage with these platforms.
“Ocrolus’ AI technology has transformed our lending business,” said Ocrolus customer and Head of Operations Strategy & Enterprise Projects at Kapitus, Murugappan Chettiar.
“The automation and accuracy have saved us…
Tom Rice has been named SVP of Sales and Account Management at mortgage tech and marketing company Volly, according to a press release.
Rice brings more than two decades of experience to the position, having previously served in leadership roles at Open Lending and CUNA Mutual.
“I am thrilled to be a part of the Volly team,” said Rice. “I joined the company at a very exciting time. Volly is an incredibly innovative company with a people- and values-first approach that I greatly admire.”
In his new role, he will lead Volly’s sales team while increasing revenue growth through new initiatives and programs.
“I am beyond excited to have Tom join us here at Volly,” said CEO Katharine Loveland. “His…
Parvesh Sahi has joined tech company Polly as Chief Revenue Officer.
In his new position, Sahi will be involved in corporate strategy, business development, sales, and account management.
“I’m very happy to share that I am rejoining the mortgage industry with Polly as Chief Revenue Officer. I can’t tell you how excited I am about the tech and team that Polly is putting together to solve real industry needs. Looking forward to catching up with everyone,” Sahi wrote in a post.
Polly is a data-driven capital markets ecosystem providing a Product and Pricing Engine and Loan Trading Exchange, as well as actionable data and analytics, to banks and lenders across the country.
Sahi joined Polly from ICE Mortgage Technology, where…
