Technology

Total Expert will use its new $20 million venture capital investment — led by Emergence Capital — to build out its Marketing Operating System, designed for the future of financial services.

One report found that 95% of homebuyers searched websites before buying a home, and that number jumps to 99% among millennials. In short, almost everyone starts shopping online, and a vast majority are going to Zillow.

Mike Cagney’s current venture, Figure Technologies, is offering consumers the ability to apply online for home equity loans and get funding in as little as five days.

Washington Mutual successor WMIH Corp. has completed its pending 1-for-12 reverse stock split and its common shares will soon begin trading under the Mr. Cooper name it inherited from Nationstar Mortgage.

As the housing market enters a new era, shifts in the demand for mortgages will ultimately dictate the direction of technology, staffing and GSE reform.

Intercontinental Exchange, the owner of the New York Stock Exchange, has purchased the remaining equity in Merscorp Holdings it did not already own.

Some lenders are tapping artificial intelligence and machine learning to improve operational efficiency and enhance the borrower experience, but complexities do exist in implementing the technology.

While digital expansion of the mortgage application process increases convenience, it inherently comes with the downside of heightened fraud risk.

Consumer demand for “ease of information and ease of interaction” is driving the digital mortgage era, says John Schleck, senior vice president at Bank of America.

LoanDepot is using scale and technology to its advantage by evaluating borrower demands through surveys and real-time assessments of customer profiles, says Chief Technology Officer Dominick Marchetti.