Articles Tagged with ''digital mortgages''

J.D. Power: Will mortgage lending go fully digital in 2018?

Trend grows toward heavy tech development
J.D. Power conducted a new study which shows, for the first time, refinance and purchase customers cited online/website as the most frequent method of submitting a mortgage application. The number of buyers that began their mortgage application digitally surged from last year. Are we finally on the verge?
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First Guaranty said to close wholesale channel

Expansion mode apparently at an end
First Guaranty is said to be shutting down one or more lending divisions, according to sources. The info comes on the back of several high-level departures at the company. One source confirmed that the company's Wholesale division shut earlier this week.
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Nationwide adoption of online notarization just took a big step forward

Nation’s secretaries of state adopt regulatory standards
One of the main things standing in the way of a fully digital mortgage in many states is the requirement for a notary to witness the signing of the mortgage closing documents. Currently, only four states allow online notarization, but it appears that the push to take online notarization nationwide is about to take a huge step forward.
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Better Mortgage becomes billion-dollar originator

Saw 400% year-over-year increase in users
Online lender Better Mortgage, which launched in January 2016, recently surpassed $1 billion in mortgage originations. According to data provided by the company, Better Mortgage claims it was the third fastest online lender to reach $1 billion in originations, trailing only Goldman Sachs’ Marcus and SoFi.
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Roostify raises $25 million to fund growth of digital lending platform

Powers digital mortgage process for JPMorgan Chase, others
Roostify, which powers the digital mortgage process for lenders like Guild Mortgage and will soon serve as the backbone of JPMorgan Chase’s digital mortgage process, announced Thursday that it raised $25 million in its Series B funding round. The company plans to use the money to accelerate its growth.
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Mobile digital mortgage platform StreamLoan raises $2 million in seed capital

Company founded in 2015
StreamLoan, a tech company that provides a mobile-focused digital mortgage platform, announced this week that it raised $2 million in seed capital to fund its growth. According to the company, its seed round investors included Acorn Pacific Ventures, Whitespace Capital, Steve Weston, the former CEO of Barclays Mortgage Bank, and Rajiv Krishnarao, the director of finance at Uber.
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Fannie Mae approves Day 1 Certainty for Blend’s end-to-end digital mortgage platform

Blend becomes first end-to-end platform to be approved for asset verification
Fannie Mae approved its first end-to-end digital mortgage platform for its Day 1 Certainty on Tuesday. Blend, a Silicon Valley technology company propelling the consumer lending industry into the digital age, announced it became the first end-to-end platform to be approved to provide asset verification reports for Fannie’s Desktop Underwriter.
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Roostify bringing digital mortgages to LendingTree

Companies partner to bring total digital experience to LendingTree users
LendingTree will now be able to offer a full digital mortgage experience to its users thanks to a new partnership with Roostify, a provider of automated mortgage transaction technology. All of the lenders that appear on LendingTree will have the ability to use Roostify to create a “seamless path” from selecting a lender to actually applying for a loan and beyond.
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Jamie Dimon: Chase will soon offer digital mortgages on smartphones

All credit extended is "super-prime"
Speaking to CNBC, Jamie Dimon said the bank plans to offer an all-digital mortgage to its customers this year. Dimon added that consumers are “in very good shape,” adding that all the credit “extended in the United States,” is super-prime quality, and that includes mortgages. Click here to watch the full interview.
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Online mortgage lender Lenda expands to four new states

Now available in Illinois, Pennsylvania, Michigan, and Arizona
Last year, online mortgage lender Lenda announced that it raised $5.25 million in its Series A round of funding, and planned to use the money to expand its business into new states. On Tuesday, Lenda announced that it’s done just that, adding four new states to its base of operations.
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