Housing Wire

NOVEMBER 29, 2022

The report, issued by “fairness-as-a-service” solution firm FairPlay AI , was based on a study of more than 350 million mortgage applications from 1990 to 2021. in 2021 from 1990. in 2020 and 2021, up from 78.4% In 2021, Black homebuyers in these states were approved at 69% of white mortgage applicants.

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Lending Government Mortgage Valuation 370

Housing Wire

FEBRUARY 7, 2023

Digital closing platform Snapdocs announced on Tuesday that it has completed its integration with Mortgage Cadence, a cloud-based digital lending platform. In May 2021, Snapdocs raised $150 million in a Series D funding, led by Tiger Global, bringing its valuation to more than $1.5 billion and its total funding to $260 million.

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Mortgage Technology Lending Valuation 369

Housing Wire

APRIL 6, 2023

“This is an opportunity to expand our understanding of the issues facing today’s appraisal industry and to get a clearer picture of how current practices and the appraisal regulatory system impact lending in this country.” I think not many people understand how this byzantine system works,” Chopra said. housing market in the future.

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Appraisal Valuation Government Appraisal Process 384

Housing Wire

AUGUST 30, 2022

While the lending industry has traditionally seen a measured and conservative approach to technological evolution, we are finding that many “strategic” decisions are made during these relative lulls in production. We have also seen large multi-channel lenders reducing their risk footprint in wholesale and correspondent lending.

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Tools Lending Technology Valuation 410

Housing Wire

OCTOBER 2, 2020

Texas-based mortgage lender Caliber Home Loans is the latest mortgage firm to ride the IPO wave, filing paperwork to potentially go public this year at a valuation north of $2 billion, according to a new report. Rocket Mortgage , America’s largest lender, made its debut in the summer and is now trading at a $45 billion valuation.

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Valuation Retail Mortgage Inventory 421

Housing Wire

MAY 27, 2022

In his own statement Thursday, Chopra said companies have “legal responsibilities when they let a black-box model make lending decisions.”. The CFPB has raised concerns in the past that algorithmic models perpetuate discriminatory mortgage lending practices.

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Law Legal Valuation Government 421

Housing Wire

MARCH 15, 2021

Digital lending software provider Blend announced on Monday that it is expanding its cloud-based platform with the acquisition of Title365 from the Mr. Cooper Group for approximately $422 million, reflecting an enterprise value of $500 million. How hybrid title and valuations help increase lending efficiency.

Insurance 397

Insurance Lending Real Estate Agent Valuation 397

Housing Wire

JUNE 24, 2022

Texas lender Mid America Mortgage rebranded as Click n’ Close to expand into the mortgage technology industry following the sale of the majority of its retail lending operations. Click n’ Close will retain retail operations related to its reverse mortgage and lending business for Native Americans, the company said Monday.

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Mortgage Retail Technology Lending 387

Housing Wire

APRIL 23, 2024

Investments are going to specific areas of personal finance and lending that add to homeownership, Krishna said. “In the past, we focused on things outside of homeownership — auto, solar and these things that were adjacent. “You have this market dynamic where valuations are down; you have a ton of fragmentation.

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Tools Clients Investing Finance 415

Housing Wire

APRIL 21, 2021

Temporary flexibilities related to employment verification, condominium project reviews, and expanded power of attorney are being allowed to expire as scheduled on April 30, 2021, the FHFA said. The government agency also said it plans to retire all temporary selling flexibilities on May 31, 2021.

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Real Estate Agent Valuation Appraisal Modernization 397

Housing Wire

SEPTEMBER 24, 2021

The company says it will use the funding to “aggressively” build new products for mortgage lending and banking industries, expand its US operations and scale its staff with a focus on machine learning and data science teams. Ocrolus has onboarded over 75 corporate team members in 2021 and plans to hire even faster in 2022.

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Technology Valuation Lending Investors 363

Housing Wire

OCTOBER 13, 2020

End-to-end lending and services platform Finance of America Capital is the latest mortgage company to get in on the mushrooming IPO craze. The lender and servicer, owned by the Blackstone Group’s Tactical Opportunities business, is slated to go public in the first half of 2021 through a special purpose acquisition company at a $1.9

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Finance Lending Retail Investing 491

Housing Wire

MAY 4, 2023

The California mortgage tech firm — now at risk of getting delisted from the NYSE — was off to a promising start when it went public in July 2021. With shares closing at $20.90, Blend had a valuation of around $4.6 million in 2021. Blend sold 20 million shares of Class A stock at $19 apiece, raising $360 million.

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Business Valuation Mortgage Lending 381

Appraisal Buzz

JUNE 10, 2021

Clario’s growth is unprecedented, expanding from 30 staff appraisers in 2019 to over 100 by the end of 2020, and is on target to employ 180 staff appraisers by the end of 2021. We specialize in real estate valuations for the mortgage lending and financial services industries. RENO, Nev. — Clario Appraisal Network, Inc.,

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Appraisal Valuation Training Real Estate 370

Housing Wire

DECEMBER 23, 2022

In a report issued on Wednesday, the watchdog said the regulator of Fannie Mae and Freddie Mac, which itself published a report that drew attention to racial bias claims in December 2021, should notify state regulators and licensing authorities when it finds cases of appraisal bias. million active appraisal records to the U.S.

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Appraisal Lending Law Finance 370

Housing Wire

APRIL 27, 2021

Legislation in Congress would try to solve for inconsistencies in appraisal underwriting, a lack of diversity in the profession, and the legacy of property valuation discrimination. Emanuel Cleaver (D-MO) and Rep. A 2018 study from the Brookings Institute found that in the average U.S.

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Appraisal Valuation Design Real Estate 384

Appraisal Buzz

AUGUST 9, 2021

There are many facets to the appraisal business: lending, non-lending work, residential, and commercial work. Who even knew about desktop valuations or evaluations? Understanding what drives interest rates should be of utmost importance to an appraiser that is doing predominately lending work.

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Appraisal Inspection Lending Business 435

Housing Wire

MAY 25, 2021

Combined with our newly acquired capabilities such as RON, a notary network and valuation services, Cloudvirga’s platform will accelerate our digital offerings in all markets, complement our existing capabilities and enhance our ability to provide customers with end-to-end mortgage services and solutions.”.

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Mortgage Valuation Loan Officers Retail 410

Housing Wire

JULY 14, 2022

Originations decreased 45% in comparison with the second quarter of 2021. JPMorgan ’s home lending net revenue reached $1 billion in the second quarter, down from $1.3 billion in the same quarter in 2021 and $1.2 billion in the same period of 2021. billion in the previous quarter of 2022.

Mortgage 397

Mortgage Retail Valuation Lending 397

Housing Wire

AUGUST 5, 2021

The 30-year fixed-rate mortgage dipped back to where it stood at the beginning of 2021, and the 15-year fixed remained at its historic low. Mortgage rates have stayed stubbornly low, barely exceeding 3%, defying predictions that 2021 would bring a return to higher levels. Presented by: Black Knight.

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Mortgage Valuation Housing Market Renovations 527

Housing Wire

JUNE 6, 2022

By some estimates, origination volume will fall in 2022 to about $2 trillion, about half the volume from the record-breaking years of 2021 and 2020. Wells Fargo , one of the nation’s largest banks, had at least 114 layoffs in its home lending business following a drop in revenue in that division in the first quarter of 2022.

Mortgage 421

Mortgage Loan Officers Lending Human Resources 421

Housing Wire

MAY 16, 2023

Ann Arbor, Michigan-based Home Point Capital did not experience the traditional ceremony to ring the Nasdaq Stock Market bell when the company went public in early 2021. It was basically the best company I’ve ever worked at,” a former underwriter, who joined the company in January 2021, said. “Homepoint was fantastic.

Mortgage 397

Mortgage Lending Business Technology 397

Housing Wire

DECEMBER 2, 2020

Blackstone Group -controlled Finance of America posted record margins and originations in the third quarter , ahead of its public offering via a blank check company in 2021. billion of it coming through its forward-lending arm. billion valuation. The company funded $9.17 billion in the third quarter, with about $8.5

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Finance Lending Retail Business 247

Housing Wire

AUGUST 17, 2022

The partnership with Palantir, co-founded by Peter Thiel, appears to be an attempt to resuscitate a company that not long ago was hailed as being at the vanguard of innovation in the digital lending space, but more recently has been exposed by a lack of reliable purchase business and a series of self-inflicted scandals.

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Investors Brokerage Valuation Mortgage 421

Housing Wire

MARCH 22, 2022

Nonbanks and mortgage subsidiaries of chartered banks reported grim profitability figures in the fourth quarter of 2021, when costs reached a new high and margins fell to the lowest level since early 2019. Servicing operations benefited from slower prepayments and low delinquencies that helped boost mortgage servicing rights (MSR) valuations.

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Valuation Mortgage Lending Marketing 432

Housing Wire

NOVEMBER 18, 2022

Overall, these companies reported a net loss of $624 on each loan they originated from July to September, much worse than the $82 loss in the second quarter and the $2,594 gain in Q3 2021, according to the Mortgage Bankers Association (MBA). Presented by: Acra Lending. How are higher mortgage rates affecting servicing?

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Lending Mortgage Valuation Business 384

Housing Wire

AUGUST 26, 2021

Stewart has been on an acquisition tear in the past 18 months, closing deals to acquire over a dozen companies — including Cloudvirga , NotaryCam , Pro Tek Valuation Intelligence , United States Appraisals , and A.S.K. It claims to have more than 3,000 customers in lending and real estate. Services , just in March. million at $3.50

Real Estate 397

Real Estate Valuation Investing Tools 397

Housing Wire

SEPTEMBER 10, 2021

Orchard , which operates a home-buying and selling platform, announced it has raised $100 million in Series D funding at over a $1 billion valuation. It also launched its lending division, Orchard Home Loans, in July. It also launched its lending division, Orchard Home Loans, in July. North Carolina and Texas.

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Lending Insurance Investors Real Estate 409

Housing Wire

JULY 29, 2021

Mortgage rates have rarely exceeded 3% this year, despite predictions that 2021 would bring a return to higher levels. How fine-tuning MSR valuations can help lenders improve decision-making. If we’ve learned anything in the past year, it’s that operational flexibility and accurate servicing valuation are key to lending profitability.

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Mortgage Valuation Investors Housing Market 421

Housing Wire

OCTOBER 19, 2022

Earnings to be pressured in the near term as volume and margin outlooks are lower for the remainder of 2022 and into 2023, and there is more limited MSR valuation upside from additional rate rises. The company went from about 4,000 workers in the summer of 2021 to about 1,000 in the fall of 2022.

Valuation 397

Valuation Mortgage Retail Business 397

Housing Wire

JUNE 2, 2022

The question was on the minds of many at the Waldorf Astoria in Dana Point, California on Thursday – will non-qualified mortgage products become more commoditized as the rising rate environment wallops agency lending? In 2021, S&P Global estimated non-QM volume reached $28.6 It’s not subprime lending.

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Lending Investors Mortgage Clients 384

Housing Wire

FEBRUARY 5, 2021

He and his team have trained over 1 million lending professionals and worked with over 600 financial organizations and their operations teams in improving customer experience, streamlining processes and strengthening company culture. Vermillion is a trainer, speaker, consultant, author, consumer advocate, and philanthropist.

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Training Technology Real Estate Valuation 311

Housing Wire

MARCH 4, 2021

How hybrid title and valuations help increase lending efficiency. This is the first acquisition of 2021 for Stewart after it acquired NotaryCam and five other companies in 2020, expanding its workforce by more than 600 employees. Streamline by combining services. Presented by: Altisource.

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Valuation Lending Sellers Technology 389

Appraisal Buzz

SEPTEMBER 15, 2021

Boston, September 14, 2021 – Reggora , an appraisal software company, improving residential real estate valuation, announced today that Envoy Mortgage has adopted its appraisal management system to help process all loans requiring an appraisal. Read about the company’s vision for the future of valuation here. About Reggora.

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Technology Appraisal Modernization Mortgage 195

Housing Wire

NOVEMBER 17, 2022

But, to date, it’s not been altered,” said Michael Carnes, managing director of the MSR Valuation Group at the Mortgage Industry Advisory Corporation (MIAC). This is predominantly for the 2020 and 2021 origination, as we are still not seeing a significant amount of the 6% product trading.” “What was a 5.5

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Marketing Lending Mortgage Valuation 420

Housing Wire

APRIL 16, 2021

billion valuation. Blend, which was named as one of HousingWire’s 2021 Tech 100 winners, has steadily grown to be a powerhouse in the mortgage tech industry. The digital lending software provider has even been breaking into adjacent businesses of late. That January round gave Blend a $3.3 In all, its technology platforms saw $1.4

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Valuation Technology Lending Mortgage 318

Clear Capital

AUGUST 17, 2021

Partnership enables ValueLink users to order Clear Capital’s broad range of valuation products including hybrid and desktop products. August 17, 2021 —. The valuation industry is currently undergoing major changes. Our integration with ValueLink allows us to continue to deliver on this commitment.”. About ValueLink.

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Valuation Modernization Technology Appraisal Process 69