Mortgage Network, Inc., one of the largest independent mortgage lenders in the eastern U.S., announced Alexandra Costanzo has joined the company as a loan officer and sales assistant at its Danvers, Massachusetts office. Costanzo will be responsible for helping borrowers throughout Massachusetts with their home financing needs.
Read more
nCino, Inc. (NASDAQ: NCNO), a provider of cloud banking and digital transformation solutions for the global financial services industry, today announced that it has completed its acquisition of SimpleNexus, a cloud-based, mobile-first homeownership software company, for total consideration of approximately 12.76 million shares of nCino common stock plus cash consideration of approximately $270 million, on a cash-free, debt-free basis and excluding transaction expenses.
Read more
MISMO, the real estate finance industry’s standards organization, named its 2022 Board of Directors. MISMO collaborates across the industry to create essential standards that expedite the exchange of information, accelerate the industry’s move to a fully digital mortgage process, and establish best practices to address key business challenges.
Read more
LoanLogics, a provider of loan quality technology for mortgage manufacturing and loan acquisition, announced that Lauren Pilon has joined the company as chief of staff. Pilon will oversee human resources and legal functions and take part in several strategic programs in collaboration with LoanLogics’ executive leadership team and its parent company, Sun Capital Partners.
Read more
Veros Estate Solutions (VEROS®), a provider of enterprise risk management and collateral valuation services, released its Q4 2021 VeroFORECASTSM data that anticipates home prices will appreciate on average 6.8% for the next twelve months, which is a slightly less anticipated growth compared to its Q3 2021 predicted national average appreciation of 7%. The VeroFORECAST evaluates home values in America’s largest markets. Veros is committed to the data science of predicting home value based on rigorous analysis of the fundamentals and interrelationships of numerous economic, social, and geographic variables as they pertain to home value.
Read more
Cherry Creek Mortgage, a nationwide, full-service mortgage lender, announced that Ty Kern has joined the company as executive managing director. A 30-year mortgage industry veteran, Kern will focus on using automation to reduce the time and effort required to manufacture loans, optimize efficiencies in loan processing, and consistently improve the borrower experience.
Read more
ATTOM released its third-quarter 2021 U.S. Home Equity & Underwater Report, which shows that 39.5 percent of mortgaged residential properties in the United States were considered equity-rich in the third quarter, meaning that the combined estimated amount of loan balances secured by those properties was no more than 50 percent of their estimated market value.
Read more
ATTOM released its 2022 Rental Affordability Report, which shows that owning a median-priced home is more affordable than the average rent on a three-bedroom property in 666, or 58 percent, of the 1,154 U.S. counties analyzed for the report. That means major home ownership expenses consume a smaller portion of average local wages than renting.
Read more
Equifax has launched additional service enhancements to its comprehensive portfolio of verification solutions available to the mortgage industry. These new options are powered by The Work Number®, the industry-leading, centralized commercial repository of income and employment information in the United States.
Read more
Planet Home Lending, LLC, a national lender and servicer, has renewed its partnership with the National Association of Minority Mortgage Bankers of America (NAMMBA). Planet Home Lending has supported NAMMBA for the past four years.
Read more
Mortgage applications decreased 2.7 percent from two weeks earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 31, 2021. The results include adjustments to account for the holidays.
Read more