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Figure Lending shifts to new operational umbrella

Housing Wire

Figure Lending LLC is now operating under the umbrella of Figure Technology Solutions , independent of CEO Mike Cagney ’s Figure Technologies. to take its lending division, LendCo , public. JP Morgan Chase & Co. and Jefferies Financial Group Inc. —

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Figure hires banks for lending arm IPO: Bloomberg

Housing Wire

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. JP Morgan Chase & Co. and Jefferies Financial Group Inc. for the IPO. for the IPO.

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How technology can help mortgage lenders combat repurchase risk

Housing Wire

As a result, lenders aim to include reliable mortgages in their securities and have technology to assess credit risk, detect fraud, and monitor performance — in order to avoid forced buybacks or losses for investors that diminish market confidence. This helps attract ongoing investment capital into the housing sector.

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Polly CEO on using technology to improve margins

Housing Wire

HousingWire Editor in Chief Sarah Wheeler sat down with Adam Carmel , founder and CEO at Polly , to talk about the ways technology should be delivering ROI for lenders. Sarah Wheeler: The cost to originate a mortgage is higher than ever, while companies have invested more in technology than ever before.

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Tim Bowler named president of ICE Mortgage Technology

Housing Wire

Benchmark Administration (IBA) , will take on a new role as president of ICE Mortgage Technology starting on March 1. ICE’s appointment of Bowler as incoming president ICE Mortgage Technology comes at a crucial time for the company. ICE Mortgage Technology is also eyeing increased sales in its Encompass loan origination system in 2023.

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ICE Mortgage Technology is betting on increased sales for 2023

Housing Wire

Intercontinental Exchange (ICE) Mortgage Technology reported operating income of $57 million in 2022, down from last year’s $397 million — a reflection of the headwinds the mortgage industry is facing. The mortgage technology division at ICE posted $249 million in total revenue in the fourth quarter, down 9.8%

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Newly launched Defy Mortgage targets non-QM lending market

Housing Wire

Nashville, Tennessee-headquartered Defy Mortgage is the latest player to join the non-QM (non-qualified mortgage) lending space, which targets entrepreneurs and gig workers who have various forms of collateral, including cryptocurrency. “The effective use of technology allows us to accomplish this.

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