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One-third of real estate CEO comp is variable, up from 2016

Housing Wire

This is up considerably from 2016, when the last report was published. “A Regional sales managers, general sales managers and office sales managers have a much higher variable compensation — earning bonuses and benefits — than they did when RealTrends published this report in 2016. Breaking down the numbers.

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ICE, DocMagic team up to offer closing technology

Housing Wire

ICE Mortgage Technology will now deploy an “eVault” solution as part of its mortgage closing platform to ensure the secure storage of digital mortgages and notes, it announced late last week. The post ICE, DocMagic team up to offer closing technology appeared first on HousingWire. Digital mortgage platform DocMagic Inc.

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Mortgage Bankers Association Taps Owen Lee as Vice Chair for 2025

Appraisal Buzz

Under his leadership, SMP has closed billions of dollars of mortgage loans yearly since 2016, is licensed in 42 states, and has more than 600 employees. Lee is also a member of the board of directors of The Mortgage Collaborative’s Technology Fund, a venture capital investment group specializing in the mortgage technology space.

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BEC accounted for $2.4 billion in claimed losses in 2021

Housing Wire

billion, far higher than the $360 million in claimed losses recorded in 2016. For the past several years, the FBI says BEC has consistently been the largest dollar loss by victims’ crime typology reported to the IC3, as “criminals have been refining their exploitation of technology, especially the internet, to carry out financial crimes.”

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Mr. Cooper’s CIO on deploying AI for the biggest wins

Housing Wire

Were you surprised at where the mortgage industry was technology-wise? So we got the opportunity to build our digital platform from the ground up back in 2016-2017. You might look at technology as diving headfirst into automation, but in his book he talks about automating last. That’s one part of it.

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Interfirst to lay off 140 employees

Housing Wire

The company’s job cuts include human resources, technology, talent acquisition, and executive assistant positions. The company reduced its origination to $2 billion in 2016 before shutting down altogether in 2017. Interfirst boasted of its ability to train people with no background in mortgage through a rigorous training course.

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What’s new in QC and Compliance

Housing Wire

In fact, the critical defect rate for the fourth quarter of 2023 was 1.53%, which ranks amongst the lowest rates we’ve observed since the report’s inception in 2016. TG: Fannie Mae offers numerous training and education resources to help lenders improve loan quality, which lenders can find online through its Loan Quality Learning Center.

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