Dark Matter Technologies (Dark Matter®), announced the addition of the NOVA loan origination system (LOS) to its product lineup. Bringing the NOVA LOS under its banner alongside the Empower® LOS enables Dark Matter to offer two distinct LOS solutions and cater to a more diverse range of lender business models.
Read More
ACES Quality Management® (ACES), a provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the first quarter (Q1) of 2024. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software. Notable findings from the Q1 2024 report include the following:
Read More
According to a new survey conducted by Snapdocs, a digital closing provider, 60% of homebuyers experience frustration during the mortgage process. The key factors borrowers identified as negatively impacting their experience occurred during the closing, including document errors, lengthy in-person appointments, and unexpected caretaking and travel costs. Borrowers who were given the option to close digitally, or even just preview the documents digitally, reported higher satisfaction with their mortgage process.
Read More
MBA’s President and CEO Bob Broeksmit, CMB, released the following statement after Senate Armed Services Committee Chairman Jack Reed (D-RI) and Ranking Member Roger Wicker (R-MS) included Senate Amendment 2358, the text of the MBA-supported bill to end the abusive use of mortgage trigger leads (“Homebuyers Privacy Protection Act”), as part of their managers’ amendment to the Senate’s Fiscal Year 2025 National Defense Authorization Act (NDAA):
Read More
Industry participants from all sectors are hailing The Fed’s decision to finally cut rates as a positive. Many say this will help the mortgage industry rebound.
Read More
The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2024 shows mortgage applications for new home purchases increased 4.4 percent compared from a year ago. Compared to July 2024, applications decreased by 0 percent. This change does not include any adjustment for typical seasonal patterns.
Read More
Atlas Merchant Capital LLC (“Atlas”), a global alternative investment firm based in New York and London, A&D Mortgage, LLC (“A&D”), a nationwide wholesale lender, and Imperial Fund Asset Management (“Imperial”), a residential mortgage investment manager and a capital markets advisor, announced a joint venture partnership (“JV”) between A&D Mortgage and Atlas Merchant Capital that will support the expansion of A&D’s $7 billion mortgage securitization platform.
Read More
Mortgage applications increased 14.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending September 13, 2024. Last week’s results included an adjustment for the Labor Day holiday.
Read More
Redefining Business Intelligence (RBI), a data science company that uses AI and experienced business analysts to pull actionable insights from very large data sets, announced a new partnership with Middleton Advisory Group, LLC (MAG) that will see the consultancy use RBI Playbooks to enhance the results its advisors deliver clients. Middleton is the first mortgage industry consultancy to embrace the concept of engaging an outsourced data science department.
Read More
ServiceLink has promoted Antonio Little to vice president, national sales manager in the origination division, where he will oversee account executives across the country.
Read More