Author: PROGRESS In Lending

Home PurchasesIn The News

LenderLogix Q3 2024 Homebuyer Intelligence Report Data: Homebuyers Hold Steady And “Wait For The Rate”

PROGRESS In Lending

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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Borrower OutreachIn The News

Finotta Publishes New Guide, “Empathy Equals Growth”

PROGRESS In Lending

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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GSE UpdatesIn The News

Mortgage Lenders Can Now Meet Fannie Mae’s 10-Day Pre-Close VOE Requirements Using Informative Research’s AccountChek

PROGRESS In Lending

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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Closing NewsIn The News

Snapdocs Expands Digital Closing Platform And Unveils New Brand Identity

PROGRESS In Lending

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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GSE UpdatesIn The News

Take3Tech Announces Fannie Mae’s Income Calculator Now Available In LoanMAPS

PROGRESS In Lending

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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In The NewsPOS Advances

Floify Launches Floify Verify, A Native Verification Of Income And Employment Service

PROGRESS In Lending

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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In The NewsRefinance Activity

Rate-And-Term Refinance Locks Surge 700% Over Previous Year

PROGRESS In Lending

Optimal Blue released its September 2024 Market Advantage mortgage data report, which found a 50% month-over-month (MoM) increase in rate-and-term refinance activity as people who purchased homes in recent years jumped at the opportunity to lower their interest rates and mortgage payments. While the Federal Open Market Committee (FOMC) lowered its target federal funds rate by 50 bps on Sept. 18, the market had already priced in a portion of the rate reduction, leading to a full month of increased refinance activity in September.

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