Technology

The financial services company will use its new capital to invest in artificial intelligence and machine learning to cut transaction times, as well as build its own servicing platform.

The company plans on trading on the New York Stock Exchange under the ticker symbol BLND

While usage of this process in mortgage closings picked up steam last year, only 34 states have permanent laws in place and two do not permit it at all.

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.

While the company did notify the public and regulators in May 2019, executives were not aware at the time that there was previous knowledge of the security vulnerability within the company.

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.

With the Colonial Pipeline attack still in the news, bank CEOs testifying at a recent hearing cited cyber risk as the biggest threat facing the industry. But members of Congress did not share those concerns, and instead were more focused on criticizing banks about overdraft fees and their level of investment in minority communities.

A new public-private network is pursuing a more comprehensive approach than other states to cultivate a strong financial technology industry by uniting banks, insurance companies, startups, government agencies, investors, universities and students.