Alexandra Costanzo Joins Mortgage Network’s Danvers, MA Office

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.

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nCino Completes Acquisition Of SimpleNexus

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.

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LoanLogics Names Lauren Pilon As Chief Of Staff

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.

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Expect Slightly Slower Home-price Growth, Market Still Booming In 2022

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.

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Cherry Creek Mortgage Hires Ty Kern As Executive Managing Director

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.

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Home Equity Abounds Across U.S. During Third Quarter

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.

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ATTOM Data: Home Ownership Is More Affordable Than Renting

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.

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