Industry Vet, Michael Ann Williamson, Joins NTC

Nationwide Title Clearing, Inc. (NTC), a post-closing services provider for the nation’s largest financial institutions, investors and servicers, announced today that Michael Ann Williamson will be joining a team of National Account Executives who are responsible for client relations and client services. She joins an elite group of subject matter experts adding many years of experience to an already impressive team. 


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“No company in the industry can compare to Nationwide Title Clearing when it comes to document-related services for the mortgage business,” Williamson said. “I was ready to work for the best and I feel fortunate that we were able to find such a great fit for my ambitions and abilities here at NTC. I’m very proud to be part of this team.”


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Williamson began her career in the industry in 1985 as a management trainee at Wachovia Bank. From there, she was promoted into the Personal Banker Program and received extensive training on the evaluation of credit worthiness and risk. She went on to lead a team at AT&T Universal Card, where she was promoted first to senior manager and ultimately to vice president. Most recently, she served as Vice President at Ditech Financial LLC. She took over the Document Custody Department in 2006, where she was responsible for Collateral Management, Servicing File Management, Imaging, Lien Release, Assignments, MERS, Subordinations and Easements. In her previous position, Williamson was a client of NTC and is well versed in both the company’s offerings and its culture.


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“Recruiting and hiring the best people is part of our culture and we take that work very seriously,” said NTC CEO John Hillman. “With Michael Ann, we get both a well-trained, high-performing account executive and also a former client who knows exactly what we can deliver and the high standards we maintain in our work. I’m very glad to have her on the team.”


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Williamson earned her Bachelor of Science in Business Administration from the University of North Carolina at Chapel Hill.

Pavaso Names Tim Anderson SVP Of Business Development

Pavaso announces that Tim M. Anderson has been named senior vice president of business development. In this role, he is responsible for developing products, strategies and relationships that drive adoption of Pavaso’s suite of digital products and services.   


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Anderson is well known in the mortgage industry for his advocacy and promotion of innovative technologies that enhance the mortgage process. He brings over 35 years of industry experience on both the lending and vendor sides of the business. Andersonunderstands the demands of the constantly changing mortgage industry and delivers solutions that improve efficiency, reduce costs and increase stakeholder satisfaction across the mortgage lifecycle. 


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Prior to joining Pavaso, Anderson was director of eStrategy and services for a software company specializing in compliant loan document production and delivery. He previously held executive management positions with a national title insurance company and several large financial and technology companies, where he executed strategies to expand eCommerce and support digital transaction management. Anderson is the founder of eMortgage Alliance which promotes MISMO standards for delivering legally compliant paperless processes.   


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Anderson is an active member of the MBA Residential Technology Committee, MISMOeMortgage Workgroup, Electronic Records and Signature Association and the ALTA Technology Committee. He also serves on the vendor technology advisory committees for two government-sponsored enterprises. Anderson has served on MBA’s Board of Technology, eMortgage Adoption task force and MISMO Governance Board, as well ason advisory boards for the Financial Services Housing Roundtableand one of the largest technology information companies in the world.


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Plano, Texas-based Pavaso is transforming the mortgage process with innovative digital mortgage closing technology that facilitates easy, convenient and streamlined closings. The Pavaso platform offers a single, collaborative, secure portal that promotes transparency, efficiency, consumer education and communication in a seamless format that delivers value to every stakeholder involved in the transaction. 

New Integration Improves Pull-Through Rates

Mortgage Coach, the developer of the Total Cost Analysis (TCA), the first borrower conversion platform for mortgage lenders, and SimpleNexus, the leader in bringing the home mortgage process to mobile devices through their dynamic digital mortgage platform, has announced an official integration partnership.


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The partnership provides SimpleNexus’ 200 plus clients and 20,000 LO’s increased pull-through or loan application conversion rates through Mortgage Coach’s Loan Comparison, TCA and SimpleNexus’ Mobile Originator™tools. When a borrower first uses the SimpleNexus mobile app with this integration in place, a TCA record will automatically be created for them in Mortgage Coach where loan originators can personalize and narrate the Total Cost Analysis details. The borrower can then compare different loan products and choose the one that is best for them through access to these details directly from the SimpleNexus mobile app home screen.


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“Mortgage Coach has first and foremost always kept the consumer in mind.  We’re proud to work with a company that brings transparency, and increases trust between consumers and lenders,” stated Matt Hansen, SimpleNexus Chief Executive Officer.

Through a transparent and educational experience, loan officers can demonstrate their commitment to their customer and the value of their role in the mortgage process delivering a complete and personalized experience, with graphs, charts, videos, and audio recordings, on any device. Update presentations/TCA information real-time. Loan officers stay in the know of when their presentations have been viewed with mobile report tracking. 


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“Synergy One provides one of the broadest sets of mortgage options of any lender today. Now, with a Mortgage Coach Total Cost Analysis for every application, our Synergy One app can help ensure the benefit and cost of every loan option is clear for any borrower. The innovation will enable our professionals to quickly tailor every loan option to specific financial goals of their client, part of our Synergy One commitment.” – Steve Majerus, President of Synergy One. 


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“By adding the Mortgage Coach Total Cost Analysis automatically to every application, Simple Nexus has delivered on two of the most important needs borrowers demand in the mortgage approval process, ease and options. Our mutual lenders need to convert every transaction by reducing fallout. This innovation provides a TCA at the earliest possible point in the application process, establishing trust and commitment from day one with the borrower.” – Joseph Puthur, President Mortgage Coach.This Best-In-Class integration provides a better way to engage, interact and communicate with borrowers, loan officers and real estate partners during the loan process. Ultimately, the partnership between Mortgage Coach and SimpleNexus provides a better borrower experience earning more loan commitments for any Lender today. 

Roostify Expands Its Advisory Board

Roostify, the San Francisco-based digital lending platform provider, announced today the addition of financial services consultant Marshall Lux to its advisory board. Lux, a distinguished consultant, advisor, and educator, brings more than 30 years’ experience in private equity to the rapidly-expanding business and reflects Roostify’s commitment to perfecting a scalable operational model and further developing an ecosystem of technology partners and strategic alliances. 


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“We are extremely excited to have Marshall join the Roostify advisory board,” said Roostify CEO and co-founder Rajesh Bhat. “Marshall’s years of experience in the financial services space, and in consumer credit in particular, has helped to establish him as a thought leader in our industry. We expect to benefit from his unique insights and perspective on the space as we continue to build products and offerings that transform the home lending space. We look forward to collaborating with Marshall to bring a superior home-buying experience to even more banks and consumers.”


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Lux said: “I’m excited to work with such a dynamic company. In just a few short years, Roostify has become a preeminent digital mortgage lending platform, radically transforming the standards of the home loan experience in its wake. I look forward to being a part of the Roostify team at this critical juncture to advance the company’s ambitious growth strategy.”


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Previously an executive for BCG, Chase, and McKinsey, Lux has completed more than 35 pro-bono projects for charities and non-profits. He is a senior fellow at Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School and his papers have been cited in the Financial Times, the Wall Street Journal and the New York Times.


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Launched in 2014 with the aim of speeding up the mortgage process and eliminating paper-bound inefficiencies, Roostify is an enterprise-class digital lending platform used by lenders across the US to accelerate, simplify, and reduce costs surrounding the origination process. 

Tallman Johnson Joins MBA As Associate VP of Legislative Affairs

The Mortgage Bankers Association (MBA) announced today that Tallman Johnson has joined MBA as Associate Vice President of Legislative Affairs. In this role, he will be responsible for advocating on behalf of MBA’s legislative and policy priorities on Capitol Hill, with a primary focus on Republican members of the United States Senate. He began his work at MBA on February 1. 


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Mr. Johnson is joining MBA from Capitol Hill where he has spent the majority of his entire professional career.


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“Tallman has a strong understanding of real estate finance issues, significant experience at the committee staff level, and a sterling reputation on Capitol Hill. Our members will be well served by his knowledge and familiarity of the legislative and public policy process,” said Robert D. Broeksmit, CMB, MBA’s President and CEO.


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“I have known and worked closely with Tallman for years, which is why I am so confident that his skill and proficiency with the issues impacting our industry will make him a strong member of our team,” said Bill Killmer, MBA’s Chief Lobbyist and Senior Vice President of Legislative and Political Affairs.


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Among his various roles, Mr. Johnson has served as a Professional Staff Member for the House Committee on Financial Services. Prior to that, he was one of the primary policy advisors to the Chairman of that panel’s Housing Subcommittee. Additionally, he has worked as a Senior Legislative Officer in the Office of Congressional and Intergovernmental Affairs at the U.S. Department of Housing and Urban Development.

Mr. Johnson holds a Bachelor of Arts in Political Science, with a Concentration in International Affairs, from The University of the South in Sewanee, TN. 

CoreLogic Launches Enhanced Title And Closing Solution

CoreLogic has launched an enhanced title and closing solution for lenders incorporated into the industry standard Collateral Management System (CMS). The solution maximizes workflow efficiency around activity related to procuring title insurance, facilitating fee collaboration and streamlining closing tasks between lenders and all loan associated vendors.


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The Title and Closing Solution within CMS offers a seamless integration into TitlePort, which is a CoreLogic service provider facing platform providing connectivity to settlement agents and title providers to digitally accept orders and correspond with lenders via messaging or document transfer in a secure portal, eliminating email and providing compliance and peace of mind. The CMS and TitlePort workflow integration supports a standardized process, improves vendor relationships and communication while reducing closing turn time


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The cost and time invested in building and maintaining a vendor panel can be a burden for lender institutions to consistently ensure all practices are compliant and secure. The CoreLogic Solution within CMS supports vendor growth management through a digital invitation tool, powered by Vendor Headquarters (VHQ), for any size vendor, whether a lender managed panel or borrower chosen. The solution offers the ability to send requests to collaborate with your organization on TitlePort, manage the status of those requests and automate the boarding process into the CMS platform while maintaining a reportable trace of all activity.


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The Title and Closing Solution’s Fee Collaboration tool allows a lender digital platform to collaborate directly with settlement providers as early in the process as possible to more quickly and accurately provide final fees. The collaborative fee worksheet reduces the back-and-forth lag and inaccuracies by providing one document that both parties work within and review in real-time. The worksheet uses comparison visibility to aid in being able to quickly identify recent changes to speed up approval. Configuration capabilities allow exact fees to be recorded rather than estimates to increase client satisfaction at closing, and downstream work.


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“We couldn’t be more excited about this opportunity for lenders,” said Glen Evans, executive of Valuation Technology Solutions at CoreLogic. “Our Title and Closing Solution delivers lenders a comprehensive view into the title procurement, fee disclosure and closing package workflows, maintains a reliable and reportable audit trail within the system, and provides title and closing vendors with seamless connectivity to their lender clients’ platforms.”

For lenders who are currently part of the Collateral Management System (CMS) family, this solution is integrated into their CMS tool kit. The solution brings an established vendor panel, as CoreLogic has partnered with several national Title and Closing providers, including the big four underwriters.

Verus Mortgage Capital Completes $254 Million Investor Loan MBS

Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has finalized its eighth rated RMBS (residential mortgage-backed securities) transaction for $254 million. The transaction was VMC’s fifth securitization in 2018. 


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The transaction was comprised of non-owner-occupied mortgages on 1-4 family properties. The securitization was rated by S&P Global Ratings and Morningstar, and is the second investor-only transaction by Invictus, an investment firm that backs VMC.


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“We are quite pleased with how we closed out 2018 and anticipate this year being even stronger in terms of the increasing interest in and demand for non-QM and investor loans,” said Dane Smith, President of VMC. 


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“Our focus remains on helping lenders grow their businesses with responsible non-QM lending and we are dedicated to purchasing quality loans as efficiently as possible,” Smith added. 


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Founded in 2015, Verus Mortgage Capital (VMC) is a non-QM correspondent investor backed by Invictus Capital Partners, a leading investment firm. VMC purchases loans in all 50 states and the District of Columbia and focuses solely on the non-agency market. It offers correspondent lenders a wide range of home financing products for credit worthy borrower.

The Washington, D.C.-based company, with operations located in Minneapolis, has purchased more than $4 billion in expanded, non-agency loans since its inception. In addition, through its affiliates, VMC has completed eight rated securitizations.

Built Technologies Deepens Banking Industry Expertise

Built Technologies, a FinTech company focused on bringing construction lending into the digital age, has added two seasoned banking industry executives with Billy Olson joining as director of builder financial solutions and Natalie Myrick as director of mortgage solutions. Olson and Myrick bring decades of experience on the lending side with prominent banks, Wells Fargo and Umpqua Bank respectively.


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“Billy and Natalie are critical additions to our team at Built as they deepen our banking expertise and help us better understand the lender’s perspective,” said Chase Gilbert, CEO and co-founder of Built Technologies. “The Built platform has served over $18 billion of construction loan volume with financial institutions—large and small—across the U.S. Billy and Natalie understand the challenges lenders face because they’ve lived it first-hand. Now with Built, they will help our clients maximize our platform and ultimately improve the construction lending process for lenders, builders, borrowers, and everyone involved.”


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Olson, who joins Built as director of builder financial solutions after nearly two decades at Wells Fargo, will aid in the development of borrowing base product functionalities and serve as the voice of the firm when speaking with potential clients. Most recently, he served as vice president of loan administration for a dedicated homebuilder lending group within Wells Fargo managing 40 thousand homes under construction annually. Previously, Olson held positions within Wells Fargo’s specialized real estate group dealing with residential and commercial construction. He holds a bachelor’s degree from Northwood University.


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As director of mortgage solutions, Myrick will lend her expertise in developing streamlined processes and procedures that ensure Built’s CTP clients are successfully implemented and getting the most out of the platform. She brings nearly a decade of experience on the lender side with a leading West Coast financial institution, Umpqua Bank. She most recently served as vice president of construction servicing for Umpqua where she managed the bank’s lending process and systems.  Before that, she held a series of positions in investor reporting and loss mitigation at Umpqua. Myrick holds both an MBA and bachelor’s degree.


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Built is a provider of secure, cloud-based construction loan administration software and the only platform to be endorsed by the American Bankers Association. Built’s collaborative platform brings the draw management process online, helping to reduce construction loan risk, increase loan profitability, transform the borrower experience, simplify compliance, and provide lenders with data never accessed before. Built serves community, regional, and national lenders coast-to-coast.

The New Digital Mandate

Providing mortgage borrowers with a digital experience is no longer a competitive advantage but the new reality for mortgage lenders, according to the findings of a new study by STRATMOR Group, a leading mortgage advisory firm. 

In the January issue of its Insights Report, STRATMOR shares key findings from its 2018 Technology Insight Study. The study, which examines the wide range of system technologies that lenders are now using, found that more than three-quarters of mortgage lenders currently give borrowers the ability to sign disclosures online, while nearly as many lenders allow borrowers to upload documents and respond to loan conditions online.


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“Today’s borrowers expect a digital experience, and lenders that do not empower consumers to upload and execute loan documents online are not only in the minority, but are falling far behind their peers,” says Garth Graham, senior partner at STRATMOR Group. “Still, while lenders are deploying and utilizing digital capabilities on the front end of the origination process, there are great opportunities to gain efficiencies on the back end.”

Participants in the STRATMOR study included independent and bank-owned or -affiliated mortgage companies ranging in size from under $250 million in annual production to those that ranked among the 10 largest in the industry in total origination volume.  The study contains comprehensive mortgage technology data, analyzed and quantified by STRATMOR’s team of data experts.


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In the four years since STRATMOR first began its extensive technology survey, the primary driver of lenders’ technology investments has shifted from regulatory concerns to a focus on improving customer service, Graham says. “Today we have an environment that is about stealing market share and succeeding with the tougher purchase transactions,” he says. “Customer satisfaction and maintaining relationships have replaced regulatory mandates as the top concerns. That means meeting the needs of borrowers and referral sources.”  

Graham says that when considering new technology, most lenders don’t consider the impact it will have on their customers. “That’s a mistake,” he said. “Lenders need to measure borrower satisfaction at a deep level to quantify the impact that any technology will have on their customers. And they need to do so before making the investment in new technology.”


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STRATMOR’s Technology Insight Study is the only independent technology survey in the mortgage industry that gathers data on how lenders feel about their mortgage technology experience, capturing their experiences with their technology from lead generation through post-closing and delivery. 

“The study offers lenders much needed non-vendor-provided data on the technologies at work in the mortgage marketplace,” STRATMOR CEO Lisa Springer says. “This information is vital to lenders that are considering updating or changing an existing system to meet the needs of today’s borrowers.”


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Other key findings of the study include: 

>>76 percent of respondents provide the ability for borrowers to execute disclosures online compared to 61 percent in 2017. 

>>72 percent provide the ability for the borrower to upload documents and respond to conditions online.

>>72 percent of respondents use agency solutions for loan delivery data (ULDD) validation, compliance and loan salability.

>>Ellie Mae’s Encompass was the most used POS technology for the fourth year in a row, followed by Blend.

>>Only 18 percent of respondents said they do not use a company-sponsored lead management tool. The rest use one or more of 24 third-party systems sharing the CRM market, with Top of Mind, Salesforce and Velocify holding the top three spots.

>>Optimal Blue was the leading product and production engine (PPE) among respondents.

>>The study also found that among the different technologies that lenders use, lenders were most likely to stay with their current production pipeline hedging, LOS and PPE technologies rather than switching to competing products.  

“While lenders are generally satisfied with their LOS, we found that many will stay with a ‘good enough’ LOS because the cost of implementing a new solution is so high in terms of licensing, development and training, not to mention the intangible costs of employee resistance to change,” Graham says. 

Credit Plus Launches CloseCAPTURE To Help Lenders Reduce Loan Fallout

Credit Plus, a provider of data and verifications for all stages of the mortgage lending process, has developed a suite of products, CloseCAPTURE, to assist mortgage lenders in reducing costs and closing more loans.


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“In anticipation of a tougher mortgage market this year, we wanted to provide our lender customers with a grouping of products to help them work smarter and capture more business,” said Greg Holmes, Managing Partner at Credit Plus. “We’re always looking for innovative ways to answer our customers’ needs and we believe CloseCAPTURE will go a long way toward addressing the challenges 2019 may present.”


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CloseCAPTURE was developed to ensure lenders are taking full advantage of all of the product benefits available to them. Some of the top issues CloseCAPTURE is designed to combat include:


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>>Rising credit report costs


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>>Applicants whose credit scores are close but don’t quite qualify

>>Applications that fall out and might have closed somewhere else

>>Obtaining quality leads for prospecting

>>Loan portfolio retention

With this flexible program, lenders can select solutions that address all of the above challenges or just one or two. 

Credit Plus provides verification services from pre-application to post-close that give mortgage professionals greater confidence when making lending decisions.

With the Credit Plus Collection, its suite of verification services, lenders can successfully close more loans and better manage their risk. Credit Plus’ expertise in the mortgage industry enables it to quickly assess current and future needs, and provide new solutions for a rapidly changing environment. Credit Plus moves mortgage professionals forward.