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

New digital lender Beeline promises purchase-ready approvals in 15 minutes

Industry veterans utilize machine learning to join the AI lending hive

Artificial intelligence continues to progress past the ‘buzzword’ phase as more and more tech companies turn to AI for digital housing solutions. Online lenders are responding to the growing demand for a greater remote landscape, as more appraisals, closings and home tours are happening from consumers’ smart-phones than ever before.

Beeline, a new digital lender that launched just last week, is applying AI to streamline the application process so that it will only take 15 minutes to apply for a loan. The app was founded by industry veterans Nick Luizza, Peter Gonzalez, Jess Kennedy, Greg Ellis and Jay Stockwell, who have broad experience in real estate tech and fintech startups.

Beeline software links directly to a user’s personal bank, employment and pay information, as well as their tax history, and then utilizes machine learning to create a “purchase-ready” or “refi-ready” approval. Because of its proprietary back-end technology, Beeline retrieves the numbers directly from the third-party source as opposed to estimated information from the user.

After the loan is presented, the user can continue through the fully digital Beeline tracker that follows the process up until closing, or choose to converse with their personal loan guide via email, phone or direct message. In terms of security, Beeline promises a bank-level encryption system to protect sensitive user information and to counter fraud.

After raising $7.6 million in equity capital, Beeline is currently offering fixed and adjustable-rate conventional loans, as well as fixed-rate FHA loans, to those in Texas, Florida, Washington, D.C., Maryland, Massachusetts, Rhode Island and Virginia.

Beeline is part of the ongoing shift within the industry, as demonstrated by a recent survey from Fannie Mae showing that 58% of lenders expect to be using AI and machine learning in their mortgage process in the next two years. Another 22% predict they’ll be investigating AI and 19% are on a wait-and-see plan.

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