The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

Fintech

Spruce snags $60 million in Series C round

Startup vies for space among the one-click mortgage technology sphere

Real estate tech startup Spruce announced on Wednesday a Series C funding round of $60 million led by Zigg Capital and backed solely by repeat investors, including Bessemer Venture Partners and Scale Venture Partners. With the addition of its latest round, Spruce’s total funding is now at $110 million.

Founded in 2016, Spruce is known most notably for its a platform intended to assist mortgage lenders, real estate investors and PropTech companies manage title and closing processes. The New York-based startup’s latest funding round will focus on continued expansion of its technology as it navigates the highly competitive and ever-growing digital mortgage space.

Previously, Zigg participated in Spruce’s $29 million Series B funding round in May, 2020 and is no stranger to the digital real estate space, having invested in digital mortgage closing platform Snapdocs‘ Series D round in May. Zigg also backed the $40 million seed round for Tomo Networks, a Connecticut-based digital mortgage startup founded by ex-Zillow executives Carey Armstrong and Greg Schwartz in October, 2020.

“Our work with our clients fundamentally changes the way partners and consumers experience real estate transactions,” said Patrick Burns, CEO and co-founder of Spruce. “While we’re just getting started, we’re more excited than ever to work with our innovative partners to build the one-click checkout for real estate, especially as the attention on consumer needs and expectations has surged.”

In March Spruce announced a joint project with insurtech platform Digital Partners and American Digital Title Insurance Company to offer a fully underwritten title commitment that it says can be completed in minutes. The joint project illustrated the tight partnership of Spruce with Munich Re, which owns both Digital Partners and American Digital Title Insurance Company and is an investor in the startup as well.


The Definitive Guide to Digital Adoption for Lenders

This guide will walk you through how you can build an empowering experience for borrowers and loan officers alike with tried-and-true digital adoption best practices. In the end, we hope you’ll have a digital adoption process that has your customers and your competitors talking.

Presented by: Finicity

Spruce currently works with clients including Better.com, Hometap, and US Wide. Executives said it is the only title solution to offer its open API directly on its website.

The tech startup said the new automated underwriting offering is part of its larger vision is to enable one-click real estate transactions ― a common theme among housing fintech companies as funding rounds and acquisitions dominated 2020’s continued shift to the “end-to-end” mortgage experience. It claims it reduced the time-to-close on mortgages – the industry standard of which is about 51 days – by 25%.

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