In The News – Page 52 – PROGRESS in Lending

Due to increasing market interest in alternative and enhanced property valuation solutions, Valligent, a Veros Software company, has announced the availability of ValPROTECT Warranty (ValPROTECT), a solution that offers recovery of permitted losses in the event a Valligent property valuation is subsequently determined to have been inaccurate. ValPROTECT Warranty aims to provide lenders and investors with peace of mind knowing the valuation determination at time of origination is protected.

In The News Research

WFG To Deliver The 4th Quarter Economic Outlook

November 15, 2023 PROGRESS In Lending

The fourth 2023 quarterly installment of WFG’s ”Quarterly Economic Outlook,” an informative and influential webinar featuring Williston Financial Group (WFG) Chairman and Founder Patrick F. Stone and Economist and Forbes contributor Bill Conerly, Ph.D., will take place on Tuesday, December 5th at 2 pm ET/1 pm CT/11 am PT.

In The News Research

IMBs Report Net Production Losses In Q3 2023

November 14, 2023 PROGRESS In Lending

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $1,015 on each loan they originated in the third quarter of 2023, an increase from the reported loss of $534 per loan in the second quarter of 2023, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.

In The News Integration

LodeStar Brings Precision Closing Fee Technology To The nCino Mortgage Suite’s Dual AUS Feature

November 14, 2023 PROGRESS In Lending

LodeStar, a national provider of closing fee-related compliance tools for mortgage lenders, has integrated with nCino’s (NASDAQ: NCNO) mortgage suite for loan officers, borrowers, real estate agents and settlement agents. LodeStar is the first independent closing fee technology to be incorporated into the nCino Mortgage Suite’s dual automated underwriting systems (AUS) feature, which helps mortgage originators select best-fit products for borrowers by simultaneously submitting loan application data to Fannie Mae and Freddie Mac’s respective underwriting engines.

In The News Research

Mortgage Delinquencies Increase In The Third Quarter Of 2023

November 12, 2023 PROGRESS In Lending

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62 percent of all loans outstanding at the end of the third quarter of 2023, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

In The News Innovation

Rapidio Introduces Data Platform To Ensure Data Accuracy And Security

November 12, 2023 PROGRESS In Lending

Rapidio, a provider of mortgage underwriting technology, announced availability of its data platform to safely transform mortgage lending with speed, accuracy and security.

In The News Industry Trends

Agencies Roll Out 54 New DPA Programs In Q3; Fund Buydowns To Offset Home Affordability Crisis

November 10, 2023 PROGRESS In Lending

Down Payment Resource (DPR), an authority on homebuyer assistance program data and solutions, reports that homebuyer assistance program administrators are responding to the mounting home affordability crisis by rapidly rolling out new homebuyer assistance programs and funding buydowns.

In The News Integration

Cloudvirga Completes Last Phase Of Certification With Optimal Blue

November 10, 2023 PROGRESS In Lending

Cloudvirga, a provider of digital mortgage point-of-sale platforms, has completed final certification for full API integration with the Optimal Blue product, pricing and eligibility (PPE) engine and digital mortgage marketplace. Cloudvirga’s existing integration with Optimal Blue already included loan pricing and lock set services, which are two of Optimal Blue’s three pillars. The final certification, post-lock activities, is the third pillar.

Analysis In The News

Credit Balances On The Rise As Consumers Manage Higher Costs

November 8, 2023 PROGRESS In Lending

High interest rates and higher-than-expected costs for goods and services continue to squeeze the wallets of American consumers. This has led to many – continuing to leverage their existing credit account lines more than ever.

Execs On The Move In The News

DocMagic Appoints Chris Lewis Director Of Sales

November 8, 2023 PROGRESS In Lending

DocMagic, Inc., a provider of compliant loan document generation, automated regulatory compliance, and eMortgage services, has promoted Chris Lewis to the role of Director of Sales. Lewis is tasked with driving strategic sales initiatives for the company’s new innovations.