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.

Mortgage 370

Mortgage Investors Clients Insurance 370

Housing Wire

SEPTEMBER 7, 2022

Miami-based fintech Milo has started to diversify its portfolio for investors with digital holdings by offering its first crypto-mortgage refinancing product, the company announced on Tuesday. Milo is not currently offering mortgage solutions outside the United States. The product has a fixed rate starting at 7.95%.

Mortgage 424

Mortgage Loan Conditions Finance Investing 424

Housing Wire

FEBRUARY 14, 2024

Analysts in the mortgage industry are projecting that 2024 will be a better year than 2023 across the board. In a HousingWire report , analyst firm Jeffries said that they believe the worst of the current mortgage cycle is behind us, and Moody’s forecasts that the Federal Reserve will decrease rates three or four times this year.

Investors 370

Investors Modernization Insurance Mortgage 370

Housing Wire

APRIL 1, 2024

Fintechs involved in homeownership investments have been around for nearly two decades, but it wasn’t until recently that a handful of them have been backed by big investors seeking to take the HEI product mainstream. The market, however, is expected to grow as HEI companies seek to partner with mortgage lenders and real estate brokerages.

Finance 425

Finance Investing Real Estate Agent Real Estate 425

Housing Wire

JANUARY 19, 2023

When industry veteran Michael Strauss abruptly shut down Long Island-based Sprout Mortgage in early July, there was uproar. There were no severance packages, and even health insurance was canceled retroactive to May 2022, leaving some on the hook for huge medical bills. Shocked employees didn’t receive their last paychecks.

Mortgage 393

Mortgage Investors Legal Loan Officers 393

Housing Wire

JANUARY 26, 2022

Polly, a software-as-service mortgage-technology firm that operates a loan-trading platform , has raised $37 million through a new funding round, its third since launching in 2019 — bringing the total raised from investors to $57 million.

Modernization 363

Modernization Mortgage Lending Investors 363

Housing Wire

APRIL 7, 2022

Nima Ghamsari, CEO and founder of mortgage fintech Blend Labs. In 2008, as the financial crisis was unfolding, he landed a job at secretive big data startup Palantir , where he learned that the $10 trillion mortgage industry was still in the Stone Age technologically. It’s a stock that’s in short-term mortgage jail.”.

Mortgage 381

Mortgage Technology Clients Insurance 381

Housing Wire

MARCH 15, 2023

The Silicon Valley Bank and Signature Bank failures that occurred over the last week have caused even more uncertainty within the mortgage industry. Meanwhile, mortgage lenders are still trying to calm down their investors and business partners. ” The latest Mortgage Bankers Association (MBA) survey proved Deitch right.

Mortgage 370

Mortgage Clients Retail Marketing 370

Housing Wire

FEBRUARY 9, 2023

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 381

Lending Business Retail Client Relationships 381

Housing Wire

JULY 28, 2022

Xactus will add flood services to its list of verification solutions with the acquisition of MassiveCert , a software company that provides flood zone determinations for insurance, lending and real estate. MassiveCert will be rebranded as Xactus Flood Solutions. “The Up until now, Xactus obtained data from third parties.

Insurance 358

Insurance Clients Modernization Technology 358

Housing Wire

JUNE 2, 2021

Real estate tech startup Spruce announced on Wednesday a Series C funding round of $60 million led by Zigg Capital and backed solely by repeat investors, including Bessemer Venture Partners and Scale Venture Partners. Spruce currently works with clients including Better.com, Hometap, and US Wide.

Real Estate 404

Real Estate Investors Insurance Clients 404

Housing Wire

SEPTEMBER 14, 2023

Adrian Gastelum, a vice president and branch manager at Nova Home Loans, recently had a prospective borrower apply for a Federal Housing Administration (FHA) mortgage. The client had just started a new job, and that can be tricky. All FHA mortgage lenders use a system by the U.S. All FHA mortgage lenders use a system by the U.S.

Loan Officers 390

Loan Officers Mortgage Finance Clients 390

Housing Wire

FEBRUARY 28, 2022

Housing Wire recently sat down with Newbold Advisors Partner Robert Simpson to learn more mortgage claims in today’s servicing climate. HousingWire: What are some key challenges servicers are currently facing regarding mortgage claims? Robert Simpson: This is a pivotal moment for mortgage servicers.

Mortgage 384

Mortgage Technology Training Clients 384

Housing Wire

JUNE 15, 2022

And it’s led to several sleepless nights for mortgage loan originators and mortgage executives. Such volatility has triggered turbulence in the mortgage market. The mortgage-backed securities (MBS) market went “no-bid” on Friday. Consequently, mortgage rates leapt like they hadn’t in decades.

Mortgage 382

Mortgage Investors Clients Marketing 382

Housing Wire

JULY 19, 2021

The independent public offering comes following a banner year for the mortgage industry , in which Blend still lost $75 million on revenue of $96 million. ” Blend’s white-label technology is what powers mortgage applications on the website of traditional banks such as Wells Fargo and U.S. .”

Insurance 382

Insurance Investors Technology Real Estate Agent 382

Housing Wire

MARCH 29, 2022

Mike Cagney didn’t expect to be releasing a cryptocurrency-backed 30-year fixed-rate mortgage product so soon. The plan was for Figure Technologies to launch such a product only after completing the merger with multichannel mortgage lender Homebridge Financial Services. For us to get paid, we need to be at that 5.99% rate.

Mortgage 382

Mortgage Technology Architecture Insurance 382

Housing Wire

FEBRUARY 3, 2022

Investors have largely shunned nonbank mortgage stocks, and analysts believe the hard times are still ahead. Driven by a desire to achieve greater scale and gain access to cheaper capital, nonbank mortgage lenders dove headfirst into the public markets during the Covid-19 boom. Investors were nonplussed. Finance data.

Mortgage 381

Mortgage Retail Finance Investors 381

Housing Wire

APRIL 22, 2024

Check out Wise Pelican Typically, you’d mail the just sold letter to homeowners who live around a property you just helped your client to sell. Buyer’s agents who can find their clients a home that’s not even on the market are instant heroes. Send this letter to apartment complexes and past rental clients you’ve worked with.

Real Estate 401

Real Estate Open Houses Brokerage Real Estate Agent 401

Housing Wire

JUNE 6, 2023

Sprout Mortgage and its ex-workers are close to settling several lawsuits over unpaid wages following the abrupt closure of the non-QM lender 11 months ago. The company also canceled health insurance coverage retroactively to May 1, resulting in several lawsuits against the lender. million and has started a new mortgage company.

Clients 347

Clients Mortgage Insurance Investors 347

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgage 393

Mortgage Loan Officers Finance Investors 393

Housing Wire

SEPTEMBER 15, 2023

Our way of honoring first responders is by educating our podcast listeners, readers and coaching clients in the real estate industry about how to help those who helped all of us and are still being of service every day. Listen to all of these really great mortgage programs (most agents and buyers don’t know about these!)

Real Estate 413

Real Estate Government Law Buyers 413

Housing Wire

JULY 28, 2023

“We posted good results in the second quarter given the continuing market headwinds ,” Ken DeGiorgio, the CEO of First American , told investors and analyst’s during the firm’s second quarter earnings call. annual decrease in title insurance net premiums and fees generated to $649.6 million and a 68.3%

Insurance 348

Insurance Investors Development Housing Market 348

Housing Wire

JULY 27, 2021

Michael Franco: The last two years in the mortgage industry have certainly been unique. Volatility and dramatic shifts in market activity have forced participants across the mortgage lifecycle to embrace more agile business practices. HousingWire: What’s driving lenders’ need for agility and efficiency in the current market?

Mortgage 382

Mortgage Technology Lending Clients 382

Housing Wire

AUGUST 19, 2021

“In the second quarter we continued to expand our customer base and grow within existing customers, closed a large acquisition that will accelerate the advancement of our platform, and executed a successful IPO with strong investor interest and support,” Ghamsari said in a statement. It also said it now has deals with 32 of the top 100 U.S.

Insurance 370

Insurance Retail Clients Technology 370

Housing Wire

OCTOBER 26, 2020

First American Financial, which provides title insurance, settlement services and risk solutions for real estate transactions, has acquired a minority interest in ServiceMac’s parent company and that interest will convert into equity of ServiceMac at the acquisition’s closing, pending regulatory approvals. First American Financial Corp.

Technology 404

Technology Insurance Real Estate Mortgage 404

Housing Wire

JULY 28, 2023

million settlement with Sprout Mortgage for unpaid wages goes through. million on mortgage purchase agreements. New Wave Lending Group , JMJ Financial Group and EF Mortgage filed on July 5 an involuntary petition against Sprout under Chapter 7 of the Bankruptcy Code in a New York court, claiming the lender owes $1.3

Mortgage 348

Mortgage Insurance Business Lending 348

Housing Wire

NOVEMBER 2, 2021

California-based Anchor Loans, founded in 1998, provides capital for professional residential real-estate investors through bridge and construction products. According to the transaction terms, American Equity Investment Life Insurance Company provided financing for the deal and acquired $1 billion of loans originated by Anchor.

Investing 314

Investing Finance Modernization Investors 314

Housing Wire

APRIL 9, 2021

Residential brokerage and mortgage lender William Raveis is buying its clients’ homes across New England, the tri-state area and Florida. WRRE also will help them buy, finance and insure their next home purchase, with mortgage closing times in as few as eight days, considerably faster than the industry average.

Brokerage 404

Brokerage Real Estate Clients Insurance 404

Housing Wire

FEBRUARY 16, 2022

In today’s competitive real estate market, an increasing number of real estate investors are turning to private money lenders to help them close deals faster, enhance property valuations, and increase their returns. Property managers and real estate agents who are interested in working with investors.

Real Estate 382

Real Estate Investing Investors Renovations 382

Housing Wire

MAY 11, 2022

Title insurers big and small can’t seem to escape rapidly deflating refinance volume, but Fidelity National Financial still pulled out the second-best quarter ever for title revenue in Q1 2022. On the firm’s first-quarter earning’s call with investors, executives stated that this was Fidelity’s best first quarter on record for revenue.

Insurance 381

Insurance Investors Marketing Clients 381

Housing Wire

MARCH 3, 2022

A growing chorus of mortgage servicers, consultants, and lobbyists support the idea of having forbearance programs as a permanent solution in the industry’s loss mitigation toolkit, rather than only a temporary relief for wide-scale events such as financial crises and pandemics. So, it may start to come down.

Insurance 370

Insurance Finance Government Mortgage 370

Housing Wire

JUNE 1, 2022

According to the Mortgage Bankers Association (MBA), total loan production expenses increased to an all-time high of $9,470 per loan in the fourth quarter of 2021. The ALTA Registry is a unique real estate utility created specifically for the mortgage industry and service providers.

Insurance 402

Insurance Real Estate Agents Technology 402

Housing Wire

AUGUST 23, 2023

” Better is partnering with other businesses to offer services such as homeowner’s insurance and to provide access to a network of real estate agents, rather than offering these products and services directly to borrowers. is expected to begin trading on the Nasdaq Stock Exchange on Thursday under the ticker symbol “BETR.”

Realtors 370

Realtors Technology Insurance Mortgage 370

Housing Wire

APRIL 1, 2021

Boston National Title (BNT), founded in 2006, offers servicing solutions to help ensure loan portfolios meet investor expectations and are both in compliance with regulatory requirements and within the risk tolerance of the GSEs. Our clients really appreciate our adaptability combined with our great service.”. “Our

Clients 220

Clients Investors Agents Design 220

Housing Wire

OCTOBER 7, 2022

Switzerland-based global lender Credit Suisse Group AG had a rough start this week after its stock was beaten down by 11%, the value of its riskiest debt fell more than 10% and the cost of purchasing derivatives insuring against the bank defaulting rose sharply. residential mortgage-backed securities (RMBS) operations.

Supply Chain 389

Supply Chain Mortgage Investors Business 389

Housing Wire

FEBRUARY 17, 2023

When you think about the current mortgage servicing landscape, it’s complex,” said Kristin Broadley, Chief Innovation Officer at QC Ally. You’re under constant scrutiny and constantly having to monitor and govern processes and practices to make sure that you are doing right by your clients.”

Government 346

Government Clients Training Insurance 346

Housing Wire

AUGUST 7, 2020

Suazo has over 15 years of leadership experience in the mortgage lending space with firms including Stearns Lending , Bank of America , Carrington Holding Company and CloudVirga. Before that Yankowski was president and CEO of Executive Title Insurance Services.

Technology 267

Technology Law Lending Legal 267