Welcome to the first day of the 14th Annual ENGAGE Event brought to you by PROGRESS in Lending. Visionary executives from BlackFin Group, Tavant, Insellerate and Big Think take you beyond all the hype and discuss the true benefits of using AI in mortgage lending. Check it out here …
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LenderLogix, a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, released the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home-buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process in the third quarter (Q3) of 2024. Here’s what the report said:
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Fay Servicing, a full-service mortgage company servicing loans for more than 170,000 U.S. homeowners, has raised over $100,000 in donations for charity through its 2024 Corporate Challenge fundraising campaign.
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Finotta, a provider of embedded fintech for digital banking, published its new guide, “Empathy Equals Growth: Retention and Profit Through Financial Wellness.” This free resource features insights from industry experts to provide financial institutions with the tools to build better relationships, enhance customer retention, and offer personalized experiences that cater to the diverse needs of today’s consumers.
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Informative Research, a technology provider delivering data-driven credit and verification solutions to the lending community, announced that AccountChek supports new enhancements to Fannie Mae’s Desktop Underwriter (DU) validation service designed to streamline the digital pre-close verification of employment (VOE), significantly enhance overall efficiency and improve the borrower experience.
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Snapdocs, a mortgage digital closing provider, announced plans to automate every critical interaction between lending and settlement teams throughout the mortgage closing process. The company will introduce new AI-powered capabilities within its platform that streamline complex closing tasks to increase customer efficiency and improve the borrower experience. These advancements inspire the company’s new brand identity.
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Take3Tech has announced that Fannie Mae’s Income Calculator is now fully integrated and available within its convergent technology platform, LoanMAPS. The company touts that it is the first platform to offer the Income Calculator directly within a Loan Origination System (LOS), and that Take3Tech provides users with a streamlined, end-to-end solution—from sales through interim servicing—within one unified system.
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Candor Technology has expanded its Loan Engineering System (LES) to include Federal Housing Administration (FHA) loans. Also, Candor’s LES not only automates underwriting decisions for FHA loans but also offers a warranty on income calculations and cleared conditions for funded FHA loans.
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Mortgage applications decreased 5.1 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending October 4, 2024.
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Floify, a mortgage point-of-sale (POS) solution, announced the availability of Floify Verify, a native electronic verification of income and employment (VOIE) service powered by Argyle. Designed to streamline the mortgage origination process, Floify Verify allows lenders to verify income and employment at a cost-effective price point without the hassle of managing additional third-party vendors.
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