Mortgage technology

Proptech CEOs and investors fully expect a huge year for the sector due to the pandemic’s “watershed” effect on digitization, according to Keefe, Bruyette & Woods.

The government-sponsored enterprise greenlit the use of CoreLogic and LoanCraft’s tools that validate self-employed borrowers’ incomes, and it certified Finicity, a firm that facilitates the equivalent for W-2 employees’ payroll data.

The acquired platform, while remaining stand-alone, will have integrations with Black Knight's Empower loan origination system for mortgage lenders.

After its three acquisitions since last August, the Philadelphia area-based credit data firm predicts more industry consolidation is on the way.

The Michigan bank is the latest company to have customer data compromised through a software vulnerability. The incident reinforces the importance of attack simulations, constant searches for intrusions and exchanges of intel with peers.

The acquisition, which has a $500 million enterprise value, will extend the technology vendor’s capabilities beyond the point of sale into the stubbornly manual electronic closing process.

The abrupt move paves the way for the $6 billion cash deal with Stone Point and Insight Partners to move forward unimpeded.

The product being tested would join another on the market from Finicity, which is nearing the final stage of approval for use by Fannie Mae and Freddie Mac.

Since CoStar made its revised offer in February, its stock price dropped nearly $177 per share.

The expansion of borrower data collected in the new URLA upends an industry standard and lenders are experiencing some growing pains.

Major secondary market players have been testing Fincity’s technology, which is in the final approvals stage with Fannie Mae and Freddie Mac.

The automation is more prevalent but the net adoption rate is low, the Stratmor Group found.

The company received an undisclosed amount of Series A funding from two investors to expand technology currently focused on helping lenders with timelines that are, on average, spinning out of control.

The organization postponed the issuance of its next set of revisions, which would have gone into effect at the start of 2022.

The acquisition of the mortgage fintech aligns with growing customer expectations surrounding a fully digital homebuying experience.

The visionary co-founded electronic signature company SignOnline in 1999, a year before legislation legalized e-signatures at the federal level.

The mortgage industry’s technology emphasizes speed, but a surge in volume has elongated the closing process for many, which is problematic ahead of a potential seasonal uptick in more time-sensitive purchase loans.

Also, private money is expected to return to the mortgage securitization market, according to lenders who responded to an Altisource survey.

The deal definitively ends a monthslong war of words between the data provider and stakeholders who attempted a hostile takeover.