In The News

In partnership with proptech SkySlope, Colorado’s largest real estate multiple listing service, REcolorado, will co-develop an innovative product called Offer Insights. Scheduled to be released first to REcolorado subscribers in early 2024, Offer Insights harnesses the power of machine learning and market data to alert agents of opportunities and potential errors as they are completing real estate forms. This feature streamlines processes and boosts compliance by delivering market-aware suggestions to agents, using real-time data to signal when any information entered on a form falls above or below accepted industry standards. 

CoreLogic, a global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for July 2023. Here’s what the report concluded:

The Consumer Financial Protection Bureau (CFPB) released its annual report on residential mortgage lending activity and trends. In 2022, mortgage applications and originations declined markedly from the prior year, while rates, fees, discount points, and other costs increased.

Finastra, a provider of financial software applications and marketplaces, and LoanLogics, a provider of loan quality technology for mortgage manufacturing and loan acquisition, reported that LoanLogics’ IDEA OnDemand and LoanBeam Tax solutions have been integrated with Finastra Mortgagebot, an all-in-one mortgage loan origination software for retail, wholesale and correspondent mortgage lending.

With July’s small pivot in annual home prices and given the early spring surges, the CoreLogic S&P Case-Shiller Index now shows a 6% cumulative increase in home prices for 2023. And while some metro areas, particularly those in the West, are recovering from larger declines seen in 2022, appreciation across the country has generally been solid. Lower-priced homes are seeing a stronger recovery, given the lack of affordable inventory and the resulting demand pressure on that segment of the housing market.

Lender Toolkit, a provider of automated mortgage technology solutions powered by artificial intelligence (AI), has launched Prism, the company’s latest innovation that streamlines the income calculation process for lenders, resulting in shortened cycle times and increased profitability.

Mortgage industry CEOs and company owners risk losing their businesses if they don’t make a strategic decision about the future of their companies now. That’s the conclusion STRATMOR Group’s Senior Partner Garth Graham reaches in his article, “It’s Inertia, and It Can Kill Your Mortgage Business,” published in the September issue of STRATMOR’s Insights Report. 

Floify, a point-of-sale solution and subsidiary of Porch Group, Inc. (“Porch Group”) (NASDAQ: PRCH), has launched verification of income (VOI) and verification of employment (VOE) waterfall technology. The new features will help lenders and brokers save time and reduce costs during the loan origination process.

Guaranteed Rate, a mortgage lender driven to be the nation’s top Fintech, has launched its new PowerVP mobile app. This end-to-end digital tool is designed to make Loan Officers even more efficient and effective. “This is the app Loan Officers have waited their entire career for. It’s now entirely possible for us to qualify buyers for their dream home by the time they leave the open house. Agents submitting an offer at 8:30pm? Our sales team can get the preapproval out at 8:35, away from their desks, all within this robust tool that will help them hustle smarter for our partners and deliver contract winning speed to our amazing customers,” exclaimed Guaranteed Rate’s President & Chief Executive Officer, Victor Ciardelli.