Author: PROGRESS In Lending

Silverwork Solutions, a provider of intelligent automation for mortgage, launched a new co-marketing agreement with Lender Price, the provider of cloud native pricing solutions.

Northwest Bank has selected LenderLogix, a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, payment processing platform Fee Chaser to ensure compliant collection of upfront fees and deliver borrowers a five-star digital experience.

Arc Home LLC, a leading Non-QM and Non-Agency Wholesale and Correspondent lender, has successfully launched a new Broker platform: SPARC 2.0. Leveraging Tavant’s Touchless Lending Broker Experience platform, Arc Home now provides a fully automated, frictionless experience for its broker clients and the lending tools they need to be self-sufficient and effectively satisfy borrower expectations.

CBC Mortgage Agency (CBCMA), a Native American wholly owned and federally chartered housing finance agency, has been approved by the U.S. Department of Agriculture to provide 30-year mortgage loans for borrowers outside of urban and suburban areas. Because the USDA loan program offers 100% financing, CBCMA enables correspondent lenders to help low- to moderate-income families in rural areas achieve homeownership.

SimpleNexus, an nCino (NASDAQ: NCNO) company and developer of a U.S. homeownership solution for loan officers, borrowers, real estate agents and settlement agents, has launched a new integration with Finastra’s MortgagebotLOS, a cloud-based loan origination system for digital mortgage lending. The native integration — available to independent mortgage banks, credit unions and depository banks — streamlines home financing for consumers and the financial institutions that serve them.

ATTOM released its second-quarter 2023 U.S. Home Equity & Underwater Report, which shows that 49 percent of mortgaged residential properties in the United States were considered equity-rich in the second quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than half of their estimated market values.

With the cost to originate a mortgage at an all-time high, it’s time for lenders to revisit their compensation plans. That’s the conclusion STRATMOR Group Senior Partner Garth Graham reaches in his article in the July issue of STRATMOR’s monthly Insights Report entitled, “Sales Compensation: Do You Get What You Pay For?” in which Graham charts a workable path forward.

Visionet, a provider of technology solutions and services, has appointed Kamran Ozair its new Chief Executive Officer (CEO). Kamran, previously served as Head of Strategy and Global Horizontals at Visionet, and brings a wealth of experience and a proven track record of success in the IT services industry. His appointment marks a significant milestone in Visionet’s journey, reflecting the company’s commitment to driving business growth and delivering exceptional value to its clients and partners.

On Monday, July 24, 2023, a jury returned its verdict in favor of LoanCare and awarded it $22.6 million in damages on claims of conversion, fraudulent inducement, and unjust enrichment against Freedom Mortgage. The verdict vindicates LoanCare’s longstanding reputation as a leading mortgage servicer.