In a move that could further boost a mortgage segment that’s expected to grow, the Mortgage Industry Standards Maintenance Organization has put the SMART Doc V3 eHELOC Specification out for comment for a 30-day period through July 5. MISMO, a subsidiary of the Mortgage Bankers Association, is the development standards body for the mortgage industry, […]
MISMO puts eHELOC specs out for comment Read More »
Even though some mortgage industry economists are expecting existing home sales to improve this year, affordability remains an issue holding many consumers back from acting. On the lender side, the competitive landscape for whatever leads are in the market is getting tougher because of the uncertainty around mortgage rates. A new offering from RatePlug looks
RatePlug’s new tool creates, nurtures real estate leads Read More »
Mortgage software provider Dark Matter Technologies is making electronic closing capabilities available on another of its loan-origination systems through a new agreement with Wolters Kluwer. The technology firm will offer e-closings on the Nova LOS platform, a system it added to its product suite alongside its primary Empower origination system in the latter half of
Dark Matter to offer e-close capabilities through Nova LOS Read More »
Vontive, which is a fintech specializing in business purpose mortgages, has received an investment from Citi, which also acted as lead bookrunner on its first-ever securitization. The amount of the off-cycle investment was disclosed. It is the first new capital in the company since its 2022 Series B fundraise, said Vontive CEO Charles McKinney. The
Citi invests in business purpose lender Vontive Read More »
The Mortgage Industry Standards Maintenance Organization has made two editions of its reference model, one an update and the other a new version, available for industry use. Its Version 3.6 Reference Model was released in 2023, and in a statement contained in MISMO’s 2022 annual report, then-President Seth Appleton called it “foundational to the way
MISMO releases new reference model, updates existing one Read More »
Influential government-related mortgage investor Fannie Mae will be partnering with Palantir, a company involved in introducing more artificial intelligence to financial services, as its regulator and conservator steps up its fight against fraud. Peter Thiel, who owns stakes in Trump administration ally Elon Musk’s companies, founded the AI firm that will be helping identify patterns
Fannie Mae partners with Palantir to weed out fraud Read More »
Altisource Portfolio Solutions is doing a reverse split of outstanding common stock, effective Wednesday May 28, to regain market listing compliance. The Luxembourg-based company, known as the former servicing platform provider for Ocwen (which recently rebranded to Onity) is listed on the Nasdaq Global Select Market. Why Altisource is doing a reverse split On Dec.
Altisource Portfolio looks to regain Nasdaq compliance Read More »
For mortgage originators, the push to become a “one-stop shop” and build lasting client relationships has taken on new urgency in light of current market pressures. “We really want to be able to meet the clients where they’re at,” Heather Lovier, chief operating officer at Rocket said during a panel discussion at the Mortgage Bankers
Rocket, CMG push towards one-stop-shop mortgage model Read More »
Ginnie Mae’s operations chief told the industry Monday he is pursuing data improvements and revisiting several industry suggestions for innovations that could improve operations. When asked about concepts the Mortgage Bankers Association has recommended exploring such as creating a securitization vehicle for early buyout loans, Chief Operating Officer Joseph Gormley said Ginnie is “taking a
What Ginnie Mae’s newest executive is planning for mortgages Read More »
Freddie Mac wants lenders to pass on the cost savings to consumers from its latest enhancements to its Loan Product Advisor automated underwriting system. The company greenlighted what was described as an on-hold innovation to the system. The upgrades include the launch of a new feature, Freddie Mac Income Calculator. It is designed to help
Pulte wants Freddie AU savings passed on to consumers Read More »
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