The Consumer Financial Protection Bureau (CFPB) proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new protections against companies misusing their data. The proposed Personal Financial Data Rights rule activates a dormant provision of law enacted by Congress more than a decade ago.
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Down Payment Resource (DPR), a technology for connecting home buyers with homebuyer assistance programs, has onboarded six mortgage lenders this September. DPR’s expanded client base includes Elevations Credit Union, Embrace Home Loans, Homeowners Financial Group, HomeStreet Bank, RWM Home Loans and a regional bank. This significant milestone reflects the growing need for solutions that promote accessible and sustainable homeownership.
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Total commercial and multifamily mortgage borrowing and lending is expected to fall to $442 billion this year, which is a 46 percent decline from 2022’s total of $816 billion. This is according to an updated baseline forecast released today by the Mortgage Bankers Association (MBA).
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Valligent, a Veros Software company providing real estate valuation solutions, has enhanced their traditional appraisal quality control process with BiasCHECK, a technology-based risk analysis solution integrated into Valligent’s appraisal review to quickly detect if an appraisal may be at risk for potential valuation bias or quality issues that need deeper analysis.
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Fintech provider Forta Solutions has launched Agility, a warehouse lending platform that offers warehouse lenders transparency, efficiency and a faster, more secure path to liquidity. Designed by warehouse lenders and built with modern technology, Agility features APIs that enable seamless integrations with both internal and third-party vendors’ systems, a first in the warehouse lending industry.
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BlackFin Group, a management consulting firm serving the Banking and Mortgage Industries, has added Take3Tech as their newest Preferred Partner. Take3Tech, a dynamic and innovative player in the mortgage banking sector, has quietly been serving mortgage bankers by offering a comprehensive suite of technology products that have gained rapid popularity.
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Welcome to the fifth day of ENGAGE 2023 brought to you by PROGRESS in Lending. In this video FinTech Expert and Senior Advisor at STRATMOR Sue Woodard describes the choices that everyone needs to make to be successful in the mortgage market today. Also, visionary executives from NEXT, CreditXpert, Sagent and Black Knight detail new ways to engage your team, your clients and your prospects. Check it out here …
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The Mortgage Collaborative (TMC), the nation’s largest independent cooperative network serving the mortgage industry, announced that the TMC Emerging Technology Fund LP (the “Fund”) has made its latest investment in Halcyon. Halcyon’s suite of services provides financial institutions with a 360-degree financial relationship with its customers by affordably expanding their offerings to include investment advisory, IRS transcripts and tax preparation services. Halcyon also introduces an industry-first rep/warranted IRS transcript income validation service at a fraction of the cost and time of any commercially available alternative.
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Welcome to the fourth day of ENGAGE 2023 brought to you by PROGRESS in Lending. In this video marketing expert and thought leader Brandie Young describes how to market your company for success in the current downturn. Also, visionary executives from Constellation Mortgage Solutions, BlackFin Group and Axacore detail how to choose the right path forward when looking at customizable vs. configurable technology. Check it out here …
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Blue Sage Solutions, LLC, developers of a browser-based, end-to-end cloud-based platform, reported that Service Credit Union, a $5 billion credit union serving members around the world, went live on the Blue Sage Digital Lending Platform, including a full-functional point of sale (POS), loan origination system (LOS), and document management solutions. Service CU expects to improve their members’ experience, streamline mortgage origination processes, and create significant cost savings.
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