Denver-based Mortgage Cadence implemented its end-to-end LOS at Global Home Loans in just six months, and now it has topped that by going through the same cycle at RateStar Inc. in just 60 days, according to Mortgage Cadence.Homeowners Loan Corp. launched Mortgage Cadence in early 2004 as a plan to increase its internal efficiencies and extend them throughout its entire enterprise, including its wholly owned subsidiary, RateStar. HLC chief technology officer Paul Sadler said it took "a lot of hard work" to get RateStar up and running in 60 days. "Part of the success of this implementation is because we're very familiar with the Mortgage Cadence product," Mr. Sadler said. "We've been using it on the back end since 2004 and are now rolling it out to the front end." Nonetheless, Mr. Sadler said that even someone completely unfamiliar with Mortgage Cadence should be able to do a successful implementation within 90 days.
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Higher costs than expected, not just for the mortgage but for repairs and more, have recent buyers' regretting their purchase, Clever RE and Redfin found in separate reports.
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New guidelines regarding buy-side and sell-side real estate agent compensation are set to go into effect this summer.
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Affordability challenges also have some aspiring homeowners taking second jobs or looking to draw from retirement savings, according to Redfin.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28