Mortgage technology

Amid a $391.8 million impairment related to Title365, the fintech laid off 220 workers in August, bringing its total layoffs to 25% of its payroll since April, executives said.

Payment for the whole loan and servicing-rights trading platform will be a mix of cash and stock, with the price and closing of the deal subject to certain contingencies.

Truework, whose clientele includes several influential mortgage players, facilitates employment checks and aims to make gig-economy data accessible.

The new leaders named at the company highlight what appears to be some heavy recruiting from the ranks of executives who previously worked for a government-sponsored enterprise or a GSE joint venture.

About 64% of borrowers would like loans to be closed in three weeks, according to Arizent research.

In exclusive new research, lender representatives reported an overall strong relationship with technology compared to bankers, insurers and wealth managers.

Historical statistics examined by Standard & Poor’s suggest the two servicing trends, which widespread use of forbearance intensified and highlighted in the past two years, may have some staying power.