Non-QM wholesale lender 5th Street Capital announced the selection of OptifiNow TPO as its new sales management and marketing solution. The San Diego-based mortgage lender is deploying OptifiNow as part of their strategy to utilize technology to scale their sales team and grow efficiently.
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Integra Software Systems, a loan origination software (LOS), announces a highly successful two years in operation with Peoples Bank, a Clifton, TN Community Bank expanding throughout the southwest part of Middle Tennessee. While many lenders, both large and small, have seen significant reduction in lending volume due to economic factors, in contrast, Peoples Bank has significantly increased their loan production by over 50% and attributes some of that growth to the partnership with Integra and the efficiencies of their LOS choice, Epic.
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VizionX, a title industry technology provider focused on driving the next generation of PropTech, has named industry veteran Terri Hanson as President and CEO.
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Mortgage applications decreased 3.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 26, 2024.
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Events such as the Great Financial Crisis and the COVID-19 pandemic caused high levels of housing market stress, leading to rising mortgage delinquencies. According to a new research report by the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA), examining current mortgage design models, underwriting standards, and intervention policies would help alleviate market pressures resulting from high levels of mortgage defaults.
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Bad jobs numbers are causing Wall Street to worry today, but there may be a silver lining for the mortgage industry. MBA SVP and Chief Economist Mike Fratantoni, had this to say:
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The MBA Opens Doors Foundation (Opens Doors) has received a total of $240,957 from Lennar Mortgage’s 11th Annual Derby, and CMG Financials’ ‘Give Back Competition’ fundraising campaign. The funds will allow Opens Doors to further deliver on its mission of providing mortgage and rental assistance to families with critically ill or injured children, allowing parents and guardians to be by a child’s side during treatment without fear of losing their home.
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Mortgage applications decreased 3.9 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 26, 2024.
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Corporate Settlement Solutions (CSS), a full-suite provider of real estate settlement solutions, released results from its mid-year analysis of the types of valuation products that lenders are using to originate home equity loans and found a significant increase in the use of Automated Valuation Models.
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LenderLogix, a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, launched its integration with automated employment and income technology provider Truv. Through the integration, lenders can now access Truv’s consumer-permissioned data platform through LenderLogix’s point-of-sale (POS) LiteSpeed to obtain direct-to-source income and employment verification for mortgage applicants.
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