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.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

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.

Leave a comment

Most Popular Articles

Do higher mortgage rates mark the end of the refi wave?

As mortgage rates rose over the last week, refi activity fell. But millions of borrowers are still eligible if lenders can get them through the pipeline.

Feb 23, 2021 By

Latest Articles

How lenders can prepare for growing fraud threats

HousingWire recently spoke with Jeffrey Morelli, general manager at Truework, about what lenders can do to prepare for and overcome the growing threat of fraud and data inaccuracy.

Feb 26, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please