We’re not necessarily looking to break technology news, but we are looking to put it all into greater context for you. Right now we’re hearing:

Partnership Enables Synchronization Of Loan Pricing With The Nation’s Leading Online Marketplace

Lender Price, a provider of digital mortgage technology solutions, announced the completion of an integration of their Product Pricing & Eligibility (PPE) Engine with LendingTree. The integration with LendingTree allows mortgage lenders to synchronize their loan pricing in real-time with the nation’s leading online marketplace for financial services.


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Lender Price’s PPE technology is designed to process large amounts of pricing data and produce instantaneous responses that satisfy the expectations of today’s digitally-connected originators and borrowers. Their PPE generates accurate loan eligibility and pricing decisions in an extremely rapid manner, allowing users to “shape” loan scenarios in a continuous manner and view the resulting changes immediately on screen.


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By combining Lender Price’s advanced technology with LendingTree’s established online marketplace, borrowers and lenders benefit from a partnership that delivers fast and accurate mortgage quotes, furthering LendingTree’s mission to provide consumers with a broad array of information and tools at no cost.


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“Lender Price’s easy on-boarding and flexible loan price configurations will enable LendingTree to further expand our lender network to support lenders of all different sizes,” said Mehul Trivedi, senior director of platforms and product management at LendingTree. “Lender Price’s technology capabilities and versatility make it even easier for LendingTree to access digital pricing and present real-time offers from a diverse lender network to our online borrowers, bringing more choice and transparency into the loan process.”


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“Lender Price’s architecture and technology stack make complex pricing decisions seamless and easy. Our advanced algorithms make creating pricing rules using natural language rather than using control flow logic like ‘if-then’ statements,” said Dawar Alimi, CEO of Lender Price. “We’re thrilled to be a partner with LendingTree and look forward to an enormously beneficial relationship in the future.”

Automating Loan Workflows With Perfected Data

Capsilon, a provider of digital mortgage solutions, has partnered with Blue Sage, a browser-based, end-to-end mortgage platform, to automate key steps in the loan origination process. 


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As a result of the partnership, Capsilon’s patented document recognition and data extraction technologies have been integrated into the Blue Sage Digital Lending Platform to help mortgage lenders of all sizes drive down origination costs and improve customer satisfaction. The integration with Capsilon is made possible through Blue Sage’s unique application programming interfaces, or APIs, which make interoperability between third-party technology providers completely seamless.


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Capsilon IQ captures and perfects mortgage data from any source, eliminating manual data entry and comparison, and enabling automation with complete, accurate information. The Capsilon IQ platform helps lenders to speed up loan intake and reduce the manual work typically associated with handling inbound documents and data, so they can redeploy staff on more valuable tasks. 


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“We are very excited to partner with Blue Sage, as it represents the cutting edge of today’s mortgage origination technology,” said Sanjeev Malaney, CEO of Capsilon. “Blue Sage and Capsilon also share a common goal—to help drive down origination costs  while helping our mutual customers take on more volume, scale appropriately and create key competitive advantages that drive their business growth.” 


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The Blue Sage Digital Lending Platform is a browser-based, highly scalable solution capable of supporting any mortgage channel, including retail, wholesale and correspondent lines of business. Built, managed and delivered through a cloud environment, Blue Sage can be accessed on any device and handles pricing, underwriting and loan decision-making from the point-of-sale stage all the way to the closing and funding of a loan.  “Capsilon IQ perfectly and seamlessly complements our robust workflow tools and enhances our ability to deliver a truly unique, digital mortgage experience,” said Joe Langner, CEO of Blue Sage. “Not only will Capsilon’s technologies help save our lending clients time and money, they will improve quality and efficiency at every stage of the mortgage lifecycle. We couldn’t be happier to be working together.”

A New Digital Closing Option Emerges

Fidelity National Financial launched a digital closing experience for consumers closing in its title operations. Developed in partnership with Black Knight, Inc., this new closing experience supports both hybrid and fully digital closing options and is tightly integrated with FNF’s title production systems. Designed to digitally engage homebuyers and sellers in the process well in advance of the closing signature ceremony, the experience brings increased transparency, flexibility and convenience to the final steps of real estate transactions.


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“Today’s homebuyers and sellers have come to expect a digital experience that increases the transparency and convenience of the transaction,” said Jason Nadeau, Chief Digital Officer for Fidelity National Financial. “At FNF, we understand this. That’s why we’re committed to creating a totally redesigned real estate experience for the consumer. We’re also making sure our vast network of partners has access to the tools they need to compete effectively in an increasingly digital world.” 


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In partnership with Black Knight and leveraging the company’s Expedite Close technology, FNF created a digital closing experience that is tailored to meet the very specific needs of the settlement community. FNF’s platform is based upon tight integrations with title production and workflow solutions, and optimized for ease of use and maximum adoption. Additionally, consumers are provided with greater visibility and transparency into their documents prior to the actual closing. Integrated eSignature technology allows for many documents to be signed in advance of the closing itself and – in jurisdictions where it is permitted – remote online notarization capabilities ensure sellers and buyers can close on a real estate transaction when and where it best suits their schedules.


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“We’re honored to have collaborated with FNF in developing a new closing experience,” said Black Knight president Joe Nackashi. “Black Knight is committed to our clients’ success, and we wholeheartedly support FNF’s mission to redefine the experience for the millions of consumers they work with annually.”


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While the digital closing platform is loan origination system (LOS) agnostic, it is currently integrated with Black Knight’s suite of solutions. FNF’s title operations will begin leveraging the digital closing platform in Q2 2019.

Home Point Financial Partners With Capsilon To Evolve Mortgage Underwriting

Capsilon, a provider of digital mortgage solutions, announced today the beta launch of Capsilon Digital Underwriter, a comprehensive suite of fully integrated cloud-based digital mortgage applications focused on automating the underwriting process. Capsilon Digital Underwriter is being built in collaboration with Home Point Financial and will help lenders and investors make rapid, informed loan eligibility decisions with perfected data.


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“Mortgage underwriting velocity has declined more than 85 percent over the last decade due to increased compliance and regulatory guidelines,” said Steve Viarengo, SVP of Digital Mortgage Solutions. “We’re delighted to collaborate with Home Point Financial to build a solution that will radically speed up mortgage underwriting and enable lenders and investors to make smarter decisions with accurate data.” 


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“We’re excited to partner with Capsilon to make the underwriting process faster and easier,” said Phil Shoemaker, Chief Business Officer of Home Point Financial. “Capsilon Digital Underwriter will significantly improve our underwriting productivity and in some cases, we believe loans can be underwritten without any human intervention. This will enable us to significantly speed up the loan origination process while focusing our talented ops team on providing best-in-class customer service to our business partners, helping them originate more loans.”


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Capsilon’s latest digital mortgage solution increases underwriting capacity and minimizes risk with tools that calculate income, analyze credit, and assess eligibility based on business rules. Capsilon Digital Underwriter runs on Capsilon IQ, the digital mortgage platform that uses machine learning and natural language processing (NLP) to capture and perfect mortgage data, ensuring underwriting rules are only applied to complete, validated information. The source of truth for each data point and its associated evidence are connected with the loan record, maintaining a digital chain of evidence for each decision. 


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“Capsilon is uniquely positioned to solve the underwriting problem with advanced technologies,” said Bill Shuler, Chief Information Officer of Home Point Financial. “You can’t automate underwriting without trusted data. Capsilon elegantly combines the ability to capture and perfect mortgage data with robust automation capabilities. Capsilon has been a great partner to Home Point and we’re excited to collaborate with them on this strategic initiative to digitize the underwriting process.”Capsilon Digital Underwriter is one solution being launched as part of a broader company initiative to develop solutions that solve key points across the mortgage life cycle. As part of this initiative, Capsilon will continue to partner with leading lenders, investors, and servicers to help drive the industry’s digital transformation, creating better experiences for customers and partners while delivering a more-efficient, lower-risk mortgage loan.

Lender Looks For Quicker LOS Deployment

Washington Trust Bank, the oldest and largest privately held commercial bank in the Northwest, went live on Empower, Black Knight’s loan origination system (LOS). Washington Trust Bank leveraged the Empower Now! implementation model – a quicker and more cost-effective deployment approach designed specifically for mid-tier financial institutions. 


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“Washington Trust Bank is now using Empower to support our organization’s growth strategy,” said Shane Patnoi, vice president of consumer lending for Washington Trust Bank. “Replacing our legacy technology with Black Knight’s system will provide advanced functionality, system scalability and flexible configuration to increase the effectiveness of our expanding lending efforts.”


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The Empower Now! implementation model gives lenders a base set of capabilities from Empower, which have been pre-configured based on the industry’s most common lending practices. Lenders can then add functionality and additional components, enabling them to remain on the same LOS as their business grows, and to adjust system parameters to meet their specific compliance needs.


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Empower is a comprehensive LOS used by many of the nation’s top lenders to electronically capture, process, underwrite and close loans in support of their retail, wholesale, consumer direct, correspondent and home equity channels. Empower also provides Web APIs for easy access to data and documents, which are needed to provide consumers with a digital user experience. By selecting the Empower Now! model, lenders such as Washington Trust Bank receive the same Empower functionality and integrations, but the system can be implemented in a reduced timeline and at a lower cost.


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              “We are pleased to support Washington Trust Bank with advanced origination capabilities that will scale as the bank’s loan volume increases,” said Rich Gagliano, president, Black Knight Origination Technologies. “With an accelerated implementation timeline and a cost structure that aligns with mid-market lenders’ needs, Washington Trust Bank will be able to quickly and cost-effectively take advantage of Empower’s ability to help the bank’s customers buy new homes and refinance existing mortgages.”

A New Way To Look At Property Data

Veros Real Estate Solutions announced today the availability of property-specific Disaster Data in conjunction with its VeroVALUE AVM reports and portfolio review services. In regions declared as disaster areas the new data set will allow lenders, servicers, appraisal management companies, and other mortgage transaction participants to determine if a U.S.-based residential property has been directly affected.


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Today FEMA Disasters are declared at the county level, meaning the entire county is declared a disaster, even though it only affects a portion of the properties located within the region. As a result, all properties within the county are flagged as being in a disaster area, which halts loan funding. Since most mortgage lenders serve a broad or even national geographic area, they have limited ability to truly know whether or not a specific property is impacted by a disaster. Veros can now eliminate this challenge by identifying disaster area impact at the parcel level.


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Using satellite imaging and data analytics, Veros’ initial release of this new tool delivers the information in two ways: on a “match and append” basis for portfolio review use or within the VeroVALUE AVM report on a per property basis. The match and append method indicates when a specific property is in the disaster area by matching the location and then appending the disaster data with one of several tiers of confidence. It then delivers a granular result that is much more specific than the county level information commonly used by lending industry participants today.


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“With the release of this new data source we can now provide our customers with accurate property-specific disaster data, allowing them to quickly assess whether or not properties have been impacted by the disaster,” explained Veros’ Director of Product Management Luke Ziegenmeyer. “Additionally, our data is continually updated as the disaster unfolds, ensuring that our customers are always making their risk-based decisions with the most current information.”


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Property-specific disaster monitoring data is available for the majority of declared disaster areas and includes hurricanes, earthquakes, wildfires, volcanoes, tornadoes, floods, storm surges and tsunamis. 

For loan origination, before funding can occur lenders need to clear the property to verify that it’s not damaged. VeroVALUE AVMs, enhanced with disaster data, enable them to do this. In the servicing and default area, it will help minimize loss severity by identifying potential default scenarios before they happen. Servicers that manage GSE- or FHA-funded loans will have the ability to proactively identify and assess disaster-related risk. As the largest investors in residential real estate, the GSEs and FHA benefit as well, as they lend everywhere and are therefore subject to the most exposure. 

“This new component to our VeroVALUE Automated Valuation Model has the potential to be of tremendous benefit to everyone from lenders and servicers to the GSEs, government agencies and capital markets firms,” said Veros President and CEO Darius Bozorgi. “It’s part of our ongoing commitment to provide innovative solutions that support the lending industry’s need to streamline processes, mitigate risk and create cost efficiencies.”

If there is likelihood or certainty that the property was affected by a disaster, Veros offers onsite inspection and photographic documentation with its VeroPHOTO+Property Condition Report (PCR). VeroPHOTO+ provides “laser focus” assessment of the property. Whether for a home equity line of credit, reassessing the collateral underlying a loan, or any other purpose, VeroPHOTO+ helps lenders quickly gauge disaster impact and the extent to which further due diligence may be necessary.

Gain One-Click Access To Improving Borrower Credit Profiles

Beta Music Group Inc. through its operating subsidiary Get Credit Healthy, Inc., a FinTech platform that provides independent mortgage originators with credit resources, education, data intelligence and lead recovery has partnered with ARIVE, a platform that offers the first of its kind mortgage marketplace designed to allow independent mortgage originators access to lenders, borrowers, and third-party vendors in a seamless ecosystem.


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Through a partnership with AIME, the Association of Independent Mortgage Experts, ARIVE will provide independent originators with the connections and tools to both compete in a crowded marketplace and serve increasingly tech-savvy borrowers nationwide.  Lenders and third-party providers want to make it easy for their customers, and AIME is over 35,000 strong. 


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ARIVE has multi-year contracts with a network of more than 20 wholesale lenders. That includes five of the top ten wholesale lenders in the country: United Wholesale Mortgage (#1), Caliber Home Loans (#2), Stearns Lending (#3), Flagstar Bank (#7) and Home Point Financial (#8). Combined, these lenders make up nearly half of wholesale market share. Top Renovation Lender AFR Wholesale, Reverse Lender Finance of America Mortgage, and Paramount Residential Mortgage Group (PRMG) are among the additional 20 wholesale lenders connecting to ARIVE.


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Elizabeth Karwowski, CEO, stated, ” We are extremely excited to partner with ARIVE to deliver one-click access to a host of credit services and solutions to assist the ever growing number of Independent Mortgage Originators on the ARIVE platform”


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Today’s fiercely competitive financial services market challenges originators like never before. Heightened pressure to create new loan opportunities, reduce prospect lead fallout, and provide better pipeline visibility poses a significant burden on independent mortgage originators.

To thrive under these market conditions requires a revolutionary new solution that transforms a currently untapped market into a well-qualified, well-informed applicant pool. Get Credit Healthy converts fallout into funded, helping independent mortgage originators close more loans while providing them with a significant competitive advantage. ARIVE, LLC., is a private technology company based in Philadelphia, Pennsylvania. Conceived as an engine to drive mortgage technology into the future, ARIVE offers the first of its kind mortgage marketplace designed to allow independent mortgage originators access to lenders, borrowers, and third-party vendors in a seamless ecosystem.

Built Adds New Technology Expert

Built Technologies, a FinTech company focused on powering smarter construction lending through modern technology, has brought on Raymond (Ray) Ritz as Senior Vice President (SVP) of Technology. In his role, Ritz will lead Built’s product and technology development, including software engineering, customer support, and implementations.


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“We are excited to welcome Ray to Built’s executive team,” said Built CEO Chase Gilbert. “As we continue to expand our reach and impact throughout the construction industry, lenders from coast-to-coast have used our platform to manage over $21 billion of construction loan volume. Ray is joining our team at a crucial time, and we are confident his impressive background in software engineering will help us strengthen our platform and drive more opportunities for Built across the U.S.”  


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Before joining Built, Ritz served as the vice president of software engineering for naviHealth, where he led the engineering department through a period of rapid expansion and growth. Previously, he was a senior director at Xerox Company, overseeing the global product and software development team’s development of public safety products.


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“It is an honor to join Built as the company continues its impressive growth trajectory,” said Ritz. “Built’s platform has already begun to transform the construction lending industry, and I look forward to further advancing our software initiatives for financial institutions across the country.”


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Ritz earned his Bachelor’s Degree in Management from Virginia Tech.A

Built is a provider of secure, cloud-based construction lending 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. 

Partnership Streamlines Home Equity Loan Valuations

CoreLogic has integrated its OnSite property condition reports on the Ellie Mae Encompass all-in-one mortgage management solution. OnSite is a property condition report coupled with local market conditions and patent-pending features that are specifically designed to help institutions meet the Federal requirements when an Automated Valuation Model (AVM) is used for mortgage lending purposes.


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“Organizations are always looking for ways to improve efficiencies during the valuations process, particularly during the home equity lending process,” said Jonathan Nutting, senior leader, Valuation Operations, for CoreLogic. “As the first integration of its kind on Encompass, users will now be able to easily incorporate this solution into their existing workflows, saving them time and money in instances where an appraisal is not necessary.”


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OnSite is designed to help lenders comply with federal guidelines surrounding the verification of the physical condition of a property. In some home equity lending situations, OnSite can be leveraged with an AVM in lieu of an appraisal. All Onsite reports use a patent-pending algorithm to create an objective overall condition rating that supports the lender’s valuations processes.


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This integration also allows users to access OnSite Plus – a property condition report for situations where a licensed real estate broker or agent is required to gain access to a property, or when a local expert is needed.


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OnSite joins 15 other CoreLogic products currently integrated in the Encompass platform, including CondoSafe condo lending solutions, Instant Merge – the nation’s most popular 3-bureau merged credit reporting solution, flood determinations, Property Tax Estimator, LoanSafe Fraud Manager, LoanSafe Risk Manager, appraisal management services via Mercury Network, Merge Plus credit supplements, 4506-T Direct, FinalCheck LQI Compliance, automated valuation models, SSN Verification and several services within the Ellie Mae Total Quality Loan.

CoreLogic is a property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services.

Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific.

Commercial And Multifamily Mortgage Delinquencies Remain Low

Commercial and multifamily mortgage delinquencies remained at a low rate in the final three months of 2018, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Delinquency Report.


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“It’s hard to imagine commercial and multifamily mortgages performing much better than they have recently,” said Jamie Woodwell, MBA’s Vice President of Research and Economics. “Future performance will be largely driven by changes in the economy and how they affect property incomes, property values and the ability of owners to refinance when their loans come due. Currently, all of those factors are favorable.”


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MBA’s quarterly analysis looks at commercial/multifamily delinquency rates for five of the largest investor-groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, Fannie Mae and Freddie Mac. Together, these groups hold more than 80 percent of commercial/multifamily mortgage debt outstanding.


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Based on the unpaid principal balance (UPB) of loans, delinquency rates for each group at the end of the fourth quarter were as follows:

>>Banks and thrifts (90 or more days delinquent or in non-accrual): 0.48 percent, unchanged from the third quarter of 2018;

>>Life company portfolios (60 or more days delinquent): 0.05 percent, an increase of 0.01 percentage points from the third quarter of 2018;

>>Fannie Mae (60 or more days delinquent): 0.06 percent, a decrease of 0.01 percentage points from the third quarter of 2018;

>>Freddie Mac (60 or more days delinquent): 0.01 percent, unchanged from the third quarter of 2018; and

>>CMBS (30 or more days delinquent or in REO): 2.77 percent, a decrease of 0.28 percentage points from the third quarter of 2018.

MBA’s analysis incorporates the measures used by each individual investor group to track the performance of their loans. Because each investor group tracks delinquencies in its own way, delinquency rates are not comparable from one group to another.


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Construction and development loans are generally not included in the numbers presented here, but are included in many regulatory definitions of ‘commercial real estate’ despite the fact they are often backed by single-family residential development projects rather than by office buildings, apartment buildings, shopping centers, or other income-producing properties.  The FDIC delinquency rates for bank and thrift held mortgages reported here do include loans backed by owner-occupied commercial properties.