Housing Wire

MARCH 30, 2021

It’s no secret credit scores can hinder a potential borrower’s ability to qualify for the best loan program, which can ultimately lead to poor borrower satisfaction. Borrowers don’t always know or understand how their credit or debt-to-income ratio (DTI) impacts the type of loan they can qualify for. Or, give up looking altogether.

Pre-qualification 441

Pre-qualification Debt-to-income ratio Pre-approval Loan Officer 441

Housing Wire

FEBRUARY 21, 2023

How origination modernization benefits lenders The mortgage application and pre-approval processes have been digitized for some time, to the benefit of borrowers and lenders alike. Streamlining operations Once a borrower is approved for a mortgage loan, the process should run like clockwork. 60% cited speed.

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Pre-approval Technology Title Loans 322

Housing Wire

MAY 12, 2022

Technology has been the focal point of that evolution more out of necessity than some consensus that homebuyers don’t want to interact with their lenders at all. Customer-facing technologies, particularly loan origination and decisioning software, are now standard in mortgage lending’s tech stack. This is not an Amazon order.

Lending 315

Lending Marketing Pre-qualification Pre-approval 315

Housing Wire

AUGUST 23, 2023

Better plans to be a mortgage marketplace that sells its technology platform to other companies. “Our Better partnered with Palantir to create the proprietary loan platform Tinman Marketplace in August 2022. It also dealt with the bad press after Garg laid off employees via Zoom in December 2020.

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Closing Pre-approval Finance Title 362

Housing Wire

JANUARY 18, 2022

” Per the company’s website , it takes five minutes to receive a pre-qualification for a mortgage, though final approval is conditional on finishing the application and providing supporting documents. Milo said that it has originated millions of dollars in loans and has had applicants from over 63 countries. “As

Mortgages 485

Mortgages Pre-qualification Pre-approval Lending 485

Housing Wire

DECEMBER 6, 2022

Headquartered and founded by Trent Hedge and Marco Monteiro earlier this year, the firm’s unified stack offers a white-labeled interface that can pre-fill loan applications in addition to instantly verifying income, assets and pulling credit, according to its website. .

Pre-approval 319

Pre-approval Mortgages Banks Loans 319

Housing Wire

JANUARY 26, 2022

As the mortgage world becomes more technologically interconnected, the risks to cybersecurity, data and infosecurity increase. According to a Q4 analysis by MISMO-certified wire and prevention fintech FundingShield, 42% of loans reviewed by the fintech firm had at least one risk finding, and of those loans, an average of 2.1

Industrial 308

Industrial Pre-approval Title Technology 308

Housing Wire

FEBRUARY 23, 2023

Patrick O’Brien, the founder and CEO of LenderLogix , said the product was designed in response to the need for a more efficient and cost-effective method of managing the loan application process. When the application is complete, the loan originators give borrowers a customized needs list and a secure document upload link. “As

Pre-approval 289

Pre-approval Loans Closing costs Mortgages 289

Housing Wire

JANUARY 25, 2023

Embattled digital lender Better.com launched a program that will allow customers to apply for a mortgage, get pre-approved, lock their rate and receive a mortgage commitment letter within 24 hours. It raised $905 million across several funding rounds and received a $750 million loan from SoftBank in 2021.

Pre-approval 374

Pre-approval Mortgages Finance Loans 374

Housing Wire

NOVEMBER 18, 2022

The deal was quickly met with resistance from trade groups and investors voicing antitrust issues – the two giant suppliers of mortgage loan origination software would harm competition in the mortgage tech solutions market. billion a year prior, with adjusted pre-tax earnings of $400 million, compared to $669 million a year ago.

Title 395

Title Pre-approval Investor Mortgages 395

Housing Wire

OCTOBER 5, 2021

HW: What are some challenges lenders are facing when it comes to streamlining loan applications, particularly in this heavy purchase environment? Geoff Green: Streamlining loan applications should be getting easier as more and more mortgage technology enters the marketplace, but that is not always the case.

Mortgages 265

Mortgages Pre-approval Lending Loans 265

Housing Wire

JANUARY 14, 2021

It says it brings new transparency to the process by eschewing the traditional broker commission, typically 1.15% of the loan. Through its digital platform, Own Up handles the application process and receive a fee of 0.40% of the loan amount from the lender.

Pre-approval 260

Pre-approval Loans Technology Branding 260

Housing Wire

JULY 5, 2023

With the hearing’s postponement, all related pre-hearing deadlines are extended by 75 days. Black Knight also sold its loan origination system, Empower , to a subsidiary of Canada’s Constellation Software Inc. ICE initially announced the merger with its rival, mortgage software firm Black Knight, in May 2022.

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Pre-approval Loans Mortgages Closing 282

Housing Wire

SEPTEMBER 14, 2020

Low interest rates have kept refinance loan volumes robust, but no one knows for how long. The mortgage industry, in general, has lagged behind other industries in terms of maximizing the benefits of new technologies. Once we get the information required to issue a Loan Estimate, the clock starts ticking. Sadly, that’s not true.

Lending 458

Lending Mortgages Technology Loans 458

Housing Wire

AUGUST 7, 2020

Because as loan officers, they believe that there’s nothing better than a broker channel, and to them this is most important for their consumers,” said Kortas. “We We then make sure we’re absolutely looking out strongly for the loan officers, they trust us that we’re constantly making it better in everything we’re doing.”.

Mortgages 369

Mortgages Loan Officer Lending Pre-approval 369

Housing Wire

OCTOBER 29, 2021

Uday Devalla, EVP, Chief Technology Officer at Sagent. According to MBA, industry retention is only 21% because data and communication gaps erode customer trust at the two most important parts of the relationship: (1) when they first go from originations into servicing, and (2) when they need a new loan. .

Pre-approval 381

Pre-approval Loans Technology Land 381

Housing Wire

SEPTEMBER 2, 2021

It also allows sellers access to a network of pre-approved buyers to expedite the process. HomeLight claims that it has built a “faster application and underwriting process” that allows the company to guarantee that it can close a loan in 21 days with “zero lender fees and transparent rates.”.

Pre-approval 304

Pre-approval Investor Technology Equity 304

Housing Wire

FEBRUARY 10, 2022

The ‘housing super app,’ according to investor slides filed with the Securities and Exchange Commission, will provide mortgage pre-approval, “immersive shopping,” facilitate in-person touring, and home financing. billion in revenue.

Pre-approval 387

Pre-approval Mortgages Agents Investor 387

Housing Wire

MARCH 4, 2021

Fintech company Plaid has announced the release of Income, a beta product looking to simplify income verification so customers can secure loans, qualify for mortgages, rent apartments, lease vehicles, and more. Plaid’s technology enables apps to connect with users’ bank accounts.

Finance 215

Finance Pre-approval Banks Investor 215

Housing Wire

AUGUST 23, 2023

Flávia Nunes: Better took nearly two years to go public, with Aurora’s shareholders’ merger approval extended three times. Secondly, we are going to continue to invest in our technology and drive products, like One Day Mortgage, that are innovative and groundbreaking and drive the adoption of those products across the industry.

Debt-to-income ratio 362

Debt-to-income ratio Technology Mortgages Pre-approval 362

Realty Biz

OCTOBER 9, 2023

How Blend’s Tool Sets the New Standard One of the latest AI chat tools to enter the real estate market, Blend's AI-powered chat tool is designed to help homebuyers and real estate agents with a variety of tasks, including qualifying for a mortgage, Finding a home, negotiating an offer, and closing on a loan.

Industrial 103

Industrial Pre-approval Loans Agents 103

Housing Wire

AUGUST 31, 2020

Even as lenders make significant investments in new technology and digital infrastructure, they continue to struggle with increasing costs per loan and time-to-close metrics. And it’s Day 1 Certainty approved.”. But we don’t. PRODUCT: AutomatIQ Borrower.

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Pre-qualification Pre-approval Loan Officer Loans 219

Housing Wire

DECEMBER 6, 2022

So, about two weeks before the closing was scheduled to take place, the builder reaches out to me and was like, ‘The loan officer on your client’s file got laid off and we are assigning a new one to it.’ In 2019, prior to the start of the COVID-19 pandemic, there were 263,494 LOs , according to mortgage data technology company InGenius.

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Loan Officer Pre-approval Loans Agents 363

Housing Wire

NOVEMBER 30, 2021

Record-setting mortgage originations coupled with a resurgent private-label securitization market have created an expanding demand for loan underwriters at a time when they are in scarce supply. . All agreed the causes of the shortage are varied and complex. trillion in mortgages originated.”.

Due diligence 365

Due diligence Mortgages Loans Residential 365

Lab Coat Agents

FEBRUARY 7, 2023

Next, consider the type of loan that’s right for you. Many different types of loans are available, so make sure you choose the one that best suits your needs. Third, you want to find an agent who uses technology to their advantage. The minimum down payment for an FHA loan is 3.5%. What Is A USDA Loan?

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FHA loan VA loan Pre-approval Fixed-rate mortgage 96

Realtor.com

APRIL 14, 2021

” The changes in everyday life due to the pandemic have placed a greater emphasis on the value of a home, says Rick Rudman , CEO at Curbio, a home renovation technology company. Get pre-approved ASAP. Experts say p otential buyers should make pre-approval their first step.

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Pre-approval Mortgages Loans Banks 111

Redfin

JULY 11, 2023

A mortgage is a loan specifically designed for purchasing a property, commonly a home. In the event that the borrower fails to repay the loan, the lender has the right to take possession of the property through a legal process known as foreclosure. What is a mortgage? How does a mortgage work? What is PMI, and when is it required?

Pre-approval 59

Pre-approval Mortgages Pre-qualification Debt-to-income ratio 59

Housing Wire

MAY 8, 2023

Fintech software and hardware company Mortgage Automation Technologies, Inc. announced on Monday that it has integrated its next-generation point of sale system, The BIG Point of Sale, on the latest API Platform available through ICE Mortgage Technology , a division of Intercontinental Exchange, Inc.

Technology 311

Technology Sales Mortgages Pre-approval 311

Realty Biz

AUGUST 3, 2023

It combines the benefits of cutting-edge technology with practical application in home remodeling and construction. Pre-Selling or Pre-Leasing Properties Investors dealing with properties that need refurbishing can use virtual renovations to showcase the potential of a space to prospective buyers or tenants.

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Renovation Pre-approval Investor Construction 80

Real Trends

JANUARY 31, 2023

First-time buyers, especially, may not be aware of the type of documentation and information they will need to pull together when applying for a loan. Whether they are placing a food order online, leveraging a ride-share app to get to the airport or placing a mobile grocery order, technology impacts every facet of their lives.

Pre-approval 98

Pre-approval Fixed-rate mortgage Loans Mortgages 98

HomeLight

JANUARY 12, 2022

But the time required to process and underwrite the loan will be in large part what dictates the length of your closing. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021. Conventional loan. 1 and accept an offer on Jan.

Closing 112

Closing Purchase and sale agreement Pre-approval Inspection 112

Realty Biz

MARCH 11, 2022

AI-based search technology can assist users in making the best decisions. Aside from this, AI technology can quickly get the buyer’s budget, must-haves, and whether or not they’re pre-approved for a loan which are all vital for an agent. AI is transforming how people search for homes. Final Thoughts.

Pre-approval 87

Pre-approval Technology Banks Loans 87

Housing Wire

DECEMBER 20, 2022

When the refi market dried up in 2022, business took a drastic turn for Thuan Nguyen, CEO of Loan Factory and the top loan originator on the Scotsman Guide for the last two years. I think I built a very good system – good process and good technology. I close about 60 loans a month only. I cut [my team] down a lot.

Loan Officer 74

Loan Officer Pre-approval Loans Technology 74

Housing Wire

JANUARY 4, 2024

But for a technology executive, coming in at a time like that is where you get to pull back and calibrate with the executive team on what’s really important. As a 14-year-old company, there’s a lot of technology and it was a great opportunity for me to come in and look at the foundational technologies the company was built on.

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Technology Loan Officer Pre-approval Loans 322

Housing Wire

NOVEMBER 30, 2021

Lenders have come to appreciate the benefits technology can bring – but those benefits are only useful if the implementation of new tools doesn’t make the loan process more complicated. Information is routed from the borrower to the loan origination system and vice versa, with the solution providing prompt feedback.

Loans 325

Loans Pre-approval Loan Officer Mortgages 325

Housing Wire

JUNE 22, 2023

Wholesale mortgage lender The Loan Store (TLS) announced on Thursday the roll-out of its new home equity line of credit (HELOC) product, which is currently available in 25 states and Washington, D.C. This approach allows The Loan Store to offer same-day approvals and HELOC funding in as little as three business days after final approval.

Loans 343

Loans Pre-approval Equity Finance 343

HomeLight

JULY 25, 2022

While a home is usually a family’s largest purchase, it’s also a complex configuration of materials, technology as well as structural and mechanical engineering. In fact, to help pre-empt the possibility of a delayed or canceled closing due to repair negotiations, some sellers even commission their own appraisal or inspection reports.

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Inspection Pre-approval Loans Finance 96