Mortgage Tech Rundown looks at the latest news in mortgage technology, featuring new product updates, integrations and announcements.
Freddie Mac announced the launch of CHOICERenovation loan offering, a solution that enables homebuyers to purchase a home and finance renovations with a single-close mortgage.
The solution, which is now available to all eligible lenders nationwide, is designed to provide consumers with cost-effective financing solutions for home renovations, as well as help the nation address its aging housing supply and lack of affordable housing, according to the company.
“Research indicates a large number of older homes need repair and renovation, either to meet the needs of current owners or as a viable option for new homebuyers,” said Danny Gardner, Freddie Mac’s senior vice president, single-family affordable lending and access to credit. “The CHOICERenovation solution gives borrowers the opportunity to make improvements, renovations and upgrades to a home using a purchase or no cash-out refinance loan that will be eligible for sale to Freddie Mac. This provides the borrower with a convenient cost saving option for financing renovations.”
Fiserv, a global provider of financial services technology solutions, recently launched a solution that enables customers to receive and pay bills through seamless mobile-first interactions.
The company explained in a press release that the solution, Mobile Bill Presentment, will permit clients to digitally present bills in a mobile wallet without the need of downloading an app.
“People are using their mobile wallets to store and access boarding passes, concert tickets, store discounts, and loyalty rewards, in addition to using them to pay at major retailers,” said Rob Houser, senior vice president, product management and strategy, Biller Solutions, Fiserv. “With continued growth in all things digital, people expect information to be one tap away, and this includes access to their bills. Mobile Bill Presentment accommodates this growing expectation and lets companies put their customers’ bills where they want to pay them — on their smartphones.”
Software company Xignite joined the Snowflake Data Exchange, making it the first data vendor to join Snowflake’s newly created marketplace.
The Snowflake Data Exchange is a free-to-join marketplace that enables Snowflake customers to connect with data providers to seamlessly access and generate insights.
The Data Exchange, which is set to launch public preview later this year, will now include Xignite’s end-of-day and historical equities pricing data, as well as currency exchange rates.
"Financial data is one of the most-requested types of data by our customers. Legacy approaches to delivering financial data involve on-premises equipment and decades-old APIs that introduce significant friction and barriers to getting the most out of this type of data—not to mention the additional risks to security with this method," Snowflake VP of Data Sharing Justin Langseth said. "We are excited that Xignite is providing rich financial data sets via the Snowflake Data Exchange, enabling Snowflake users to discover, access, and leverage that data in a much simpler, faster, and less costly way."