What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

How real estate agents can increase profitability in 2021

As real estate professionals strategize on how to do business in this competitive, fast-paced market, they’ll discover the need for better tools to market their listings.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Fintech

Cloudvirga partners with Citizens Bank’s wholesale channel

Follows rollout of Cloudvirga's TPO program in May

On Monday, Cloudvirga announced its integration with Citizens Bank’s wholesale channel, Franklin American Mortgage Company, to combine its digital mortgage processes with point of sale software and cloud-based technology. Franklin American Mortgage Company is the nation’s largest bank-owned wholesale lender.

Through the partnership, Franklin American Mortgage aims to transform its third-party origination platform into a one-stop-shop for its broker partners, Cloudvirga said.

“In today’s wholesale environment, lenders have a responsibility to empower their brokers with the tools they need to be successful,” said Scott Tansil, executive vice president of wholesale lending at Franklin American Mortgage.

Cloudvirga rolled out its TPO program in May to accommodate the increased market share of the wholesale lending sector, which has reached almost 16% of the nation’s $2 trillion annual mortgage volume.

The platform offers brokers structured loan details for all loan products, pricing, real-time third party fees, reissuance of credit, electronic connections for income and assets, the ability to run dual AUS, issue lender disclosures and satisfy conditions digitally.

In June of 2019, Citizens Bank unveiled its digital mortgage experience, which enabled borrowers to both apply for and manage their mortgages online, as well as a home shopping portal. Now, the company is looking to increase the number of tools in customers’ hands. 

The Cloudvirga technology will allow brokers to have their own POS to grant their customers functionalities within the platform including verifying assets and income, uploading documents, collecting e-signatures and paying for appraisals.

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