Technology

The digital provider of commercial mortgage closing documentation hired a Guaranteed Rate executive and announced plans to add staff and integrate more loan operating systems.

The company is divesting itself of another piece of Xome after previously peddling Title365 to Blend Labs.

CEO Thomas Cangemi is pushing to modernize a bank that for decades was focused largely on multifamily lending. The company has already agreed to buy the mortgage lender Flagstar Bancorp and its partnership with Figure Technologies, a blockchain-focused fintech, has the potential to make that acquisition more productive.

The lending technology provider currently has 37,741 decisioning steps or pivot points on its platform.

New York Community Bancorp says it will invest in Figure Technologies, which has developed an open source distributed ledger. The bank plans to use the technology to cut costs in mortgages and payments and promote financial inclusion.

Whether it’s ransomware or a natural disaster, a sudden freeze on operations can be devastating, and the recent incident highlights why mortgage industry businesses must constantly review their data security efforts.

The new all-in-one brokerage aims to avoid the "one-size-fits-all approach,"Rocket Homes CEO Doug Seabolt said.

The expanded credit access in its automated mortgage decisioning goes into effect in mid September.

The two-pronged agreement also will add Figure's mortgage servicing rights onto Sagent's platform.

The company's expanded portfolio through its acquisition spree drove revenue, representatives said.