Digital mortgages

Clear HOI — an encrypted, cloud-based tool that automates homeowners insurance underwriting — is getting released to the broader market by Rocket Mortgage’s sister company Nexsys Technologies.

The company’s proprietary platform is aimed at helping borrowers apply for home loans in as little as 15 minutes by automating immediate validation of bank information used in qualification.

Startups Home Lending Pal, RealKey and Stavvy will get access to experienced mentors and potential customers over three months as a part of the program.

As today’s borrowers are more tech-savvy than ever, it is critical for lenders to partner with a strong digital point-of-sale company, EXOS Technologies’ Mikhail Cook says.

Bee Mortgage App will use blockchain and automation provided by Elphi to create "a COVID tool for real estate agents" to get fully digital mortgage approval in under three minutes.

Use of mortgage technology was fast-tracked due to coronavirus lockdowns and kept the lending industry humming, laying the foundation for a greater share of digital closings in 2021.

The substantial Series D fundraise fuels speculation on whether Better.com will be the next mortgage company to hop on the IPO trend.

The draft IPO filing for its Class A shares follows speculation that it would follow the lead of Rocket Cos. and other nonbank lenders in going public.

The company reached a new record high for closed loan volume, and reported a cyclical drop in gain-on-sale margins reflecting changes in its product and channel mix.