Author: PROGRESS In Lending

While mortgage lenders have been buying and installing technology at a rapid pace since the COVID-19 pandemic began, many aren’t actually using it as much as they could be, according to the latest Insights Report from mortgage advisory firm STRATMOR Group.

SitusAMC Holdings Corp. (SitusAMC), a provider of technology and services to the real estate finance industry, has acquired Street Resource Group, Inc. (SRG) and its widely utilized Warehouse Loan System (WLS). The acquisition expands SitusAMC’s warehouse lending technology offering, pairing WLS with SitusAMC’s existing ProMerit system (acquired via the MBMS, Inc. acquisition in 2019).

Verity Global Solutions, a provider of outsourced mortgage services, announced that Dave Demster has joined the company as senior vice president of sales and marketing. A veteran mortgage executive with over 25 years of industry experience, Demster will help lead Verity’s growth initiatives and expand the company’s roster of clients.

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for January 2021 shows mortgage applications for new home purchases increased 18.9 percent compared from a year ago. Compared to December 2020, applications increased by 17 percent. This change does not include any adjustment for typical seasonal patterns.

First Option Mortgage, a national residential mortgage lender, has opened four new offices in multiple states. The new offices are a part of the company’s mission to grow its brand.

As most of you know by now Kelly Purcell passed away last week Saturday. Losing a friend is hard, but Kelly was so much more to so many of us. As I was processing how I felt I wasn’t sure if I was going to write something, but I was asked to do so by some industry friends so I decided that I should honor my friend and write about her here.