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ConsumerDirect Mortgage rebrands as Real Genius, introduces new tech platform

Housing Wire

ConsumerDirect Mortgage rebranded itself to Real Genius and announced the launch of a modern mortgage application platform to simplify a borrower’s experience. Additionally, the lender promises borrowers a “personalized approach” and “access to veteran mortgage professionals.”.

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Polly CEO on using technology to improve margins

Housing Wire

Sarah Wheeler: The cost to originate a mortgage is higher than ever, while companies have invested more in technology than ever before. I was a mortgage lender and I saw firsthand the shortcomings of the various kinds of software verticals. I worked for a mortgage company from 2007 until 2013 — that’s where I learned the industry.

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Snapdocs gives lenders a proven path to adopting digital closings, powering millions of closings a year

Housing Wire

Snapdocs has emerged as the digital infrastructure that connects the mortgage closing ecosystem in order to orchestrate perfect digital closings at scale. It enables lenders to connect with all parties and technologies involved in a mortgage transaction to complete the entire closing process online.

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CFPB to use “dormant” Dodd-Frank power to regulate “risky” nonbanks

Housing Wire

But that all changed with the 2008 financial crisis, in which nonbank lenders made billions in bad mortgage loans, and, as a consequence, would eventually be placed under the supervision of the CFPB (in addition to depositories with $10 billion or more in assets and their servicers).

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AmeriHome plans to go public – Let’s look at the numbers

Housing Wire

AmeriHome on Thursday became the latest mortgage lender to file for a public offering, the latest to do so amid a coronavirus pandemic that has helped spur record origination volume this year. ” AmeriHome, founded in 2013, operates correspondent and consumer direct channels , and also sports a related servicing division.

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Appraisers and Property Data Collectors

Appraisal Today

Myth #2: Data collectors are going to replace appraisers There’s a lot of buzz right now about PDC possibly replacing traditional property appraisal, but the intent of this service is to fill a gap in the lending process. I quit commercial lender appraisals when my local bank was bought out in 2013 (competitive bidding for low fees).

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Appraisal Risk, Reviews, and Revisions

Appraisal Today

While that number may seem high to some, in the context of lending and property complexities, that is a 54% improvement in performance cited earlier in this article (from 35% 10 years ago). NOTE: Please scroll down to read the other topics in this long blog post on unusual homes, mortgage origination stats, etc. 156-acre site.