Housing Wire

NOVEMBER 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry is facing. Looking ahead to Q4 2023, ICE expects near-term cyclical headwinds in the mortgage industry to persist.

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Industrial Mortgages Technology Loan Officer 310

Housing Wire

JULY 31, 2023

Flagstar Bank , a top-25 U.S. Flagstar made news in recent months, expanding its footprint and further diversifying its business model with the completion of the merger with New York Community Bancorp (NYCB) and the acquisition of certain financially and strategically complementary parts of Signature Bank.

Banks 370

Banks Mortgages Commercial Lending 370

Housing Wire

SEPTEMBER 5, 2023

I sat down with Tim Bowler, president of ICE Mortgage Technology, a business unit of ICE, to talk about the company’s mortgage automation strategy — and what keeps him up at night. SW: ICE Mortgage Technology is known for its focus on automation. Sarah Wheeler: ICE’s acquisition of Black Knight just closed today.

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Technology Mortgages Loans Industrial 393

Housing Wire

FEBRUARY 14, 2023

Benchmark Administration (IBA) , will take on a new role as president of ICE Mortgage Technology starting on March 1. Bowler will be in charge of ICE’s business segment, which is focused on automating elements of the mortgage industry and delivered a revenue of $1.1 Timothy Bowler, president of Intercontinental Exchange, Inc.

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Technology Mortgages Lending Loans 382

Housing Wire

SEPTEMBER 21, 2022

Cincinnati-based Fifth Third Bank NA, part of Fifth Third Bancorp, a regional lender with some $207 billion in assets, has launched a new warehouse-financing arm that will serve independent mortgage bankers. The lender ’s new warehouse financing arm will be led by Donnie Martin, who has more than 25 years of mortgage industry experience.

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Lending Banks Commercial Finance 382

Housing Wire

SEPTEMBER 26, 2023

Blend Builder – an initiative that started about four years ago and launched in March 2023 – is a cloud banking platform designed to help businesses in the financial services industry streamline processes for mortgages, loans, deposits and accounts. “We As for consolidation, it will be both a tailwind and a headwind for us.

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Banks Mortgages Loans Investor 414

Housing Wire

FEBRUARY 2, 2023

Intercontinental Exchange (ICE) Mortgage Technology reported operating income of $57 million in 2022, down from last year’s $397 million — a reflection of the headwinds the mortgage industry is facing. The mortgage technology division at ICE posted $249 million in total revenue in the fourth quarter, down 9.8%

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Technology Sales Mortgages Lending 382

Housing Wire

APRIL 13, 2023

First Federal Bank will acquire the mortgage division of BNC National Bank , which will give the Florida-headquartered community-based bank a nationwide consumer direct mortgage platform. The purchase, which includes the bank’s consumer-direct technology platform, is expected to close in the second quarter of 2023.

Banks 382

Banks Mortgages Loan Officer Residential 382

Housing Wire

JULY 25, 2022

Pink slips will arrive for 58 employees working in the mortgage business at Texana Bank in California, according to a Worker Adjustment Retraining Notification (WARN) sent to the state’s Employment Development Department. The layoffs include loan officers, underwriters, processors, post-closing and secondary market staff.

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Banks Loan Officer Loans Lending 370

Housing Wire

NOVEMBER 1, 2021

The lender announced Friday a partnership with Salesforce to deliver Rocket’s mortgage origination capabilities directly to banks, credit unions and other FIs through Salesforce Financial Services Cloud. ” There are nearly 5,000 FDIC-insured banks and more than 5,000 credit unions in the U.S. .

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Banks Mortgages Loan Officer Lending 414

Housing Wire

JULY 21, 2023

Citywide Home Loans , a Utah-based mortgage lending company, agreed to settle a $1.2 The data compromised included “names, addresses, phone numbers, dates of birth, social Security numbers, passport numbers, driver’s license numbers, credit card information, bank account information and/or medical or insurance information,” the lawsuit says.

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Loans Technology Lending Banks 370

Housing Wire

MARCH 20, 2024

The PROGRESS in Lending Association released the names for its 2024 Innovations Award winners last week, including two vendors that are active in the reverse mortgage industry, according to an announcement. Also recognized by the PROGRESS in Lending Association was Mortgage Cadence , which was lauded for its technology innovation.

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Lending Mortgages Technology Banks 413

Housing Wire

MARCH 7, 2023

appointed Michelle DeHart as the vice president of loan operations, escrow, the company announced on Tuesday. My objective is to strengthen Cenlar’s escrow area by leveraging technology and automating wherever possible to enhance operational efficiencies and deliver the best outcomes for Cenlar, our clients and their homeowners.”

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Loans Banks Mortgages Technology 370

Housing Wire

MAY 30, 2023

Artificial intelligence (AI) is a buzzword in virtually every industry right now. And, in the mortgage industry, AI will play an instrumental role in helping loan officers to be more efficient, according to Nima Ghamsari , Blend ‘s co-founder and CEO. The most difficult part, however, is building the technology.

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Loan Officer Loans Banks Technology 393

Housing Wire

JULY 19, 2022

However, the lenders and loan officers who will be most successful in the second half of 2022 will be those who pivot quickly, understanding both the nuances of the market and the best strategies to help solve problems for today’s homeowners, homebuyers, homesellers, Realtors and financial advisors. Innovations in technology.

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Industrial Mortgages Loan Officer Technology 414

Housing Wire

OCTOBER 10, 2023

Lenders using MeridianLink Consumer loan origination software (LOS) will be able to leverage Blend’s unified platform and consumer banking origination software for a fast onboarding and application process for banking, credit card and loan products, Blend said in a news release on Tuesday. million in Q2 2022.

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Lending Banks Technology Loans 404

Housing Wire

APRIL 9, 2024

Rocket Mortgage ’s bet on artificial intelligence (AI) has resulted in a patented platform called Rocket Logic, which can automatically process nearly 90% of data points extracted from documents in a month and reduce by 25% the number of times a professional interacts with a mortgage loan year over year, the company claims.

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Loans Technology Mortgages Finance 457

Marco Santarelli

APRIL 28, 2024

The banking sector is often seen as a barometer for the broader economy , and the closure of a bank can send ripples through the financial community. In 2024 , the United States witnessed its first bank failure of the year with the closure of Republic First Bank.

Banks 105

Banks Commercial Loans Technology 105

Housing Wire

SEPTEMBER 2, 2021

The mortgage industry is still seeing record-breaking numbers, but those numbers have started to wane and lenders looking to succeed in a slow market need to begin preparations today. While new technologies have a reputation for breaking the bank, the average lender only budgets less than 10% of their overall operations costs for technology.

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Technology Closing Loan Officer Mortgages 424

Housing Wire

MARCH 1, 2023

For decades, the housing industry has viewed climate risk as a fairly straightforward issue. However, the ramifications of climate risk are now being felt throughout the broader industry, especially as a larger and larger percentage of this damage comes in the form of uninsured losses. You build the home to code.

Industrial 382

Industrial Banks Loans Design 382

Housing Wire

JUNE 28, 2023

Most mortgage professionals have either started to adopt artificial intelligence (AI) or are at least aware of how it can be adopted to make the loan origination process more efficient. Automated comparison checks can help solve one of the biggest issues in mortgage banking: a lack of trust in data provided by borrowers and lenders. “We

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Industrial Mortgages Principal Loans 393

Housing Wire

DECEMBER 9, 2021

“We’ve experienced the important role technology can play in helping homeowners access the tools and solutions their mortgage servicer is offering. We’re using] our technology to help homeowners and servicers alike facilitate more convenient and more equitable access to loan products and closings.”.

Technology 393

Technology Loans Closing Lending 393

Housing Wire

APRIL 19, 2022

Publicly traded mortgage tech company Blend Labs laid off 10% of its workforce amid major headwinds in the mortgage industry. The company, whose white-label technology powers mortgage applications on the websites of major lenders such as Wells Fargo and U.S. Bank , expects to incur about $6.7 million in annualized savings.

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Industrial Mortgages Investor Loans 370

Housing Wire

JANUARY 5, 2022

So is the 24-month refinance market, the biggest of its kind in all of mortgage banking history. And this time, the most wonderful time of the year gives way to what, in the mortgage industry, could be the most awfullest time of the year. Think technology and service providers, too — a smaller mortgage market affects everyone.

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Industrial Mortgages Principal Technology 442

Housing Wire

MAY 14, 2024

With the Fed gone AWOL on purchasing mortgage loans, mortgage rates have doubled and spreads over 10-year Treasuries are at historical highs. In late 2021, Congress renewed a 10 basis point tax on Fannie Mae and Freddie Mac loans for another decade – not based on loan risk, but to pay for non-housing spending.

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FHA loan Loans Title Mortgages 390

Housing Wire

NOVEMBER 18, 2021

HousingWire recently sat down with Joe Hallett, Fannie Mae’s Vice President – Digital Products Management, to discuss how Fannie Mae is leveraging technology to expand access to homeownership. HW: Where do you think we are as an industry in the digital mortgage journey?

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Technology Lending Mortgages Industrial 424

Housing Wire

DECEMBER 1, 2020

Flagstar Bank and the FinTech Consortium revealed that fintech startups Home Lending Pal , Stavvy and Real Key are the latest initiates to the companies’ ongoing MortgageTech Accelerator program. LOs are only human — Tech is necessary to keep up with max loan volumes. Presented by: Total Expert. in 2010 and 2011.

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Banks Mortgages Lending Technology 346

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. We have a broad product set, competitive pricing and great technology,” said Lee Smith, EVP and president of mortgage. We’re well-capitalized and committed to mortgage, particularly the broker channel.

Lending 370

Lending Banks Technology New Construction 370

Housing Wire

NOVEMBER 30, 2020

The Mortgage Collaborative, an independent cooperative network in the mortgage industry, today announced the launch of TMC Emerging Technology Fund LP, a venture capital program funded by a self-selected segment of TMC members to capture opportunities driven by the rapid pace of technological change in the mortgage sector.

Technology 370

Technology Mortgages Due diligence Commercial 370

Housing Wire

JANUARY 31, 2024

Dark Matter Technologies (DMT) tapped Tony Fox, former director of ICE Mortgage Technology , as its new chief of client engagement. Fox was director of client management at I CE Mortgage Technology for four months after the firm acquired Black Knight in September 2023. He will report to Sean Dugan, chief revenue officer at DMT.

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Mortgages Technology Banks Development 404

Housing Wire

NOVEMBER 8, 2023

Polly , a software-as-service mortgage tech firm, announced a bi-directional integration with MeridianLink , a loan origination software system provider, on Tuesday. Loan officers will be able to add MeridianLink Mortgage loan pipeline data directly into Polly’s product and pricing engine in real time, and vice versa.

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Loan Officer Loans Banks Lending 403

Housing Wire

JANUARY 19, 2023

As financial institutions weather this shift in the market, every loan opportunity becomes more critical than the last. The survival tactic lenders too often miss is doubling down on loan quality to ensure immediate salability to investors or long-term servicing performance. Moving to a more robust software system boosted productivity.

Loans 393

Loans Lending Investor Mortgages 393

Housing Wire

NOVEMBER 1, 2023

Payroll connectivity platform Argyle and ICE Mortgage Technology have partnered to allow lenders access real-time income and employment data for borrowers throughout the loan origination process. Founded in 2018, Argyle has raised over $77.6

Mortgages 402

Mortgages Technology Loans Banks 402

Housing Wire

APRIL 30, 2024

In November 2023, Lower announced the acquisition of Colorado-based Universal Lending Home Loans , which became a separate division. Universal president and industry veteran TJ Kennedy leads its retail and wholesale channels. Founded in Denver in 1981, Universal added 60 loan officers to Lower.

Loan Officer 414

Loan Officer Banks Lending Loans 414

Housing Wire

JANUARY 22, 2024

Sagent , a fintech software company providing a servicing management platform for banks and lenders, appointed Chris Marshall as executive chairman. and was co-founder and CFO at Capital Bank Financial Corp. His term as executive chairman began on January 19. Cooper Group. His career includes positions at GMAC, Inc. ,

Technology 412

Technology Banks Equity Mortgages 412

Housing Wire

JUNE 16, 2023

SimpleNexus , a homeownership platform developer for loan officers, borrowers, real estate agents, and settlement agents, announced this week a new integration with Empower, the loan origination system (LOS) from Black Knight. ” SimpleNexus , an nCino company, is a developer of mobile-first technology for mortgage lenders. “We

Loan Officer 370

Loan Officer Technology Loans Banks 370

Housing Wire

APRIL 12, 2023

In the case of the real estate company, a spoofed email that purported to be from a real estate agent at the company directed a closing attorney to wire $154,000 in home-purchase funds to a bank account controlled by the fraudsters. bank accounts to various locations in West Africa via wire transfers.

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Industrial Banks Title Technology 382