Digital mortgages

The amount nearly doubles the capital the mortgage fintech has raised since 2012.

After doubling its valuation in five months, Blend plans to use its latest funding to strengthen its digital lending experiences for banking and mortgages.

The company aims to make financed home purchases more competitive with cash offers by creating a faster mortgage process.

The funding will be used to continue developing the automation Brace provides for distressed loan servicing and other related services.

When the Uniform Residential Loan Application transition deadline hits on March 1, a data set within Fannie Mae’s Desktop Underwriter Program, which many lenders have used for a host of functions, will no longer be supported and unprepared lenders could later experience disruption.

Remote online notarization helped originators close loans amid social distancing measures, but complex local laws remain a barrier to its widespread use.

This year, the mortgage industry demonstrated an unlikely agility and willingness to learn, but 2020 also reinforced where the industry is weak and needs to adapt — quickly — to be able to compete, Capacity Senior Adviser John Heck says.

While it's no silver bullet, automation with careful monitoring and testing can help lenders eliminate racial bias toward potential borrowers, the developers say.

The company also acquired the maker of the ResWare title and escrow software.

Two reports reveal how borrowers prefer to engage with lenders, with younger customers preferring an efficient digital experience and most seeking some form of human interaction.

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.