In The News

Mortgage industry CEOs and company owners risk losing their businesses if they don’t make a strategic decision about the future of their companies now. That’s the conclusion STRATMOR Group’s Senior Partner Garth Graham reaches in his article, “It’s Inertia, and It Can Kill Your Mortgage Business,” published in the September issue of STRATMOR’s Insights Report. 

Floify, a point-of-sale solution and subsidiary of Porch Group, Inc. (“Porch Group”) (NASDAQ: PRCH), has launched verification of income (VOI) and verification of employment (VOE) waterfall technology. The new features will help lenders and brokers save time and reduce costs during the loan origination process.

Guaranteed Rate, a mortgage lender driven to be the nation’s top Fintech, has launched its new PowerVP mobile app. This end-to-end digital tool is designed to make Loan Officers even more efficient and effective. “This is the app Loan Officers have waited their entire career for. It’s now entirely possible for us to qualify buyers for their dream home by the time they leave the open house. Agents submitting an offer at 8:30pm? Our sales team can get the preapproval out at 8:35, away from their desks, all within this robust tool that will help them hustle smarter for our partners and deliver contract winning speed to our amazing customers,” exclaimed Guaranteed Rate’s President & Chief Executive Officer, Victor Ciardelli.

WaterfallCalc, a provider of accurate loss mitigation technology for small- and mid-sized mortgage servicers, has launched WaterfallCalc+, an affordable cloud-based version of its popular loss mitigation analysis tool that enables distressed borrowers to easily apply for assistance through their phone, tablet or PC, supplementing the company’s flagship technology, WaterfallCalc, which gives servicers the technology to calculate the appropriate loss mitigation option, based on insurer and agency requirements. WaterfallCalc and WaterfallCalc+ are priced to give small and midsized servicers entry into the technology they need to stay competitive in the mortgage servicing market.

The MBA Opens Doors Foundation (Opens Doors) received $2,684,526 in corporate and individual donations during its Annual Appeal fundraising campaign to kick off fiscal year 2024, held September 5-7. The proceeds will support the Foundation’s mission of helping vulnerable families with critically ill or injured children stay in their homes while their child is in treatment.

The Fed’s decision to stop raising rates yesterday was welcomed by our industry. Everyone agrees that mortgage rates are very high now in comparison to where they’ve been for the last few years and a downward trend on rates would be welcomed. But will this have a huge impact on mortgage lending or just work around the margins? Here’s what industry experts think:

LenderLogix, a provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, announced that Minnesota-based Affinity Plus Federal Credit Union (Affinity Plus) has selected its pre-approval letter generation tool QuickQual to provide borrowers with a white-labeled, digitally-driven entry point into their homebuying experience.