Mortgage technology

Consumer-permissioned access to bank or payroll information could be used to evaluate borrowers who still need relief after payment suspensions for pandemic-related hardships end.

The real estate technology company had a $498 million valuation, according to PitchBook, but it could get a sizable premium to that if it were to go public.

The long-time title and mortgage technology industry executive wants to reduce the number of public company boards he serves on.

There are plans to incorporate the code into the Encompass eClose product, which will allow for secure storage of digital mortgages and notes.

In the aftermath of 2020’s historic year of mortgage originations, lenders are concerned with keeping employees and insulating themselves from the negative effects of the boom and bust cycle, according to a survey from The Mortgage Collaborative.

The digital title insurance, closing, escrow, and recording services provider has now raised a total of $110 million in funding.

This is the multi-hyphenate company’s sixth deal since the start of 2020 — a series of acquisitions in a variety of sectors within the industry, ranging from analytics to artificial intelligence.

Rather than completing another equity raise, the five-year-old mortgage technology company went looking for a partner.

Average days to close dropped closer to pre-pandemic levels in April, according to ICE Mortgage Technology.

The cloud-based mortgage closing platform’s Series D round earned $150 million for the company.

The deal adds to the burgeoning technology stack at the Houston-based title underwriter, which added NotaryCam in December.

While COVID-19 pushed digitization to the forefront of lending, a majority of borrowers still want some degree of human interaction, according to a survey by ICE Mortgage Technology.

Also, per-loan compensation keeps dropping due to the persistence of refinancing in the mix but it could rise as the purchase share of the market increases.

There are only a handful of servicers who have unlocked the secret to achieving high retention rates, and they are performing over 3x better than the industry average of 18%. How are they doing it? It’s all about the data, writes the head of consumer finance at Jornaya.

A total of 480,000 customers may have been affected by the duplicate drafts and so far it looks like far fewer than 1% of them incurred non-sufficient funds fees, Mr. Cooper said Tuesday.

The recent compression allays fears that lenders would have difficulty serving the needs of borrowers with time-sensitive purchase contracts during a peak season.

System updates, which may be a result of changes to the Preferred Stock Purchase Agreements, have Community Home Lenders Association members saying loans that were approved previously are getting rejected when put back through.

The incident points to a risk mortgage companies should be aware of as they shift to digital servicing strategies.

The mortgage real estate investment trust has been a first-mover regarding innovations in the private securitized market, and others tend to follow its lead.

A private equity capital raise earlier this year gave the company a $3.3 billion valuation.