Author: PROGRESS In Lending

MISMO, the real estate finance industry’s standards organization, announced its Board of Directors for 2023.

Consumers feel 13% less confident about their financial outlook now than they did one year ago, according to the latest WalletHub Economic Index. This is the second largest year-over-year drop during the past 12 months.

Mortgage applications increased 7.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 20, 2023. This week’s results include an adjustment for the observance of Martin Luther King, Jr. Day.

Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, announced findings from its latest Homeownership Program Index (HPI). The firm’s analysis of 2,351 homebuyer assistance programs in its DOWN PAYMENT RESOURCE database revealed that the net number of homebuyer assistance programs increased by 1.82% from Q3 to Q4 2022. This marks the fifth consecutive quarter the number of homebuyer assistance programs has grown.

Exceleras, a provider of software solutions that drive the right actions at the right time to accelerate property disposition, has hired two new customer success executives who will serve current and new clients on the company’s advanced asset management and disposition platform. Jeannette McWay and Kelli Kysela have both joined the company in these new Customer Success roles.

New-to-credit consumers – those early in their credit journeys – generally perform as well or better than borrowers with established credit and similar risk scores. This finding from a newly released TransUnion (NYSE: TRU) global study, “Empowering Credit Inclusion: A Deeper Perspective on New-to-Credit Consumers,” may give some assurance to lenders in both developed and developing credit markets that they can extend additional credit products to such consumers without incurring materially higher delinquencies.

Accurate Group, a provider of technology-driven real estate appraisal, title data, analytics, and e-closing solutions, announced that Michele Golden has joined the company as Chief Appraiser. Michele will report to Steve Baczkowski, COO of Accurate Group, and will manage Accurate Group’s staff appraisers, appraisal compliance and regulatory issues.

Silverwork Solutions, the developer of digital workforce BOTs that significantly reduce production costs for lenders nationwide, has partnered with Revolution Mortgage. The Silverwork suite of software robots will be used across production operations at Revolution Mortgage to enable a low cost and best in class loan manufacturing process.

2023 will be a break-out year leading with industry education that drives further adoption of the LoanPASS system, according to the vendor. In conjunction with the scheduled development enhancements for 2023, the year ahead will be a year of flight for this company. Derek Long, COO for LoanPASS states, “As it stands, the LoanPASS features, and functionality are on the same playing field as other advanced FinTech’s including the delivery of underwriting conditions while easily supporting portfolio lending guidelines.”

Mortgage applications increased 27.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 13, 2023. 

AREAL.ai, the no-code automation platform for the title and mortgage ecosystem that makes it easy to reliably extract data from complex documents and integrate data with existing tools and workflows, has hired Noah Cosentino as Product Manager for its industry solution.