Lending

Setting the 2019 budget for your mortgage business?

The right technology partner is more important than ever
In the midst of significant economic headwinds, lenders are developing their 2019 budgets, and top concerns include increasing production and decreasing turn-times. The prime driver for the next year has to be efficiency, which makes choosing the right technology partner especially important. Lenders using FirstClose are seeing efficiencies in two areas that will be critical for success in the next year: home equity fulfillment process and vendor management.
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Fintech Rundown: Factom, LoanLogics and more

This week's mortgage tech moves
Another week and more tech integrations! As the industry shifts ever-closer to a truly digital mortgage experience, we present some of the integrations and program selections companies in the mortgage lending space are making.
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Zillow's move into seller leads called "billion-dollar opportunity"

Mike DelPrete breaks it down
In an email to subscribers, independent analyst Mike DelPrete said Zillow’s strategic shift into iBuying and mortgage lending points to a much more profitable business line. “Zillow's iBuyer business continues to grow, and the latest results crystalize the opportunity in seller leads,” he writes in the email.
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Reverse mortgage securities continue decline

Issuance totals highlight liquidity concerns
The latest data on HECM-backed securities shows issuance continued its decline in October, and while HMBS float last month was up slightly to $55.5 billion, most of that can be attributed to highly seasoned collateral and not to new production. This means that it’s only a matter of time before HMBS float falls below the $55 billion mark – a vector that indicates less liquidity for investors.
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Wells Fargo to pay $43 million to settle pre-crisis RMBS trust lawsuit

Reaches settlement with investors, including BlackRock and PIMCO
In the past few years, Wells Fargo, once thought of as a shining example in the financial services industry, has been dragged down by scandal after scandal followed by settlement after settlement. Well, guess what? It’s a day that ends in "y," and that means it's time for another Wells Fargo settlement.
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Fannie Mae plans $145 million investment in LIHTC funds

GSE continues to focus on affordable housing
After re-entering the Low Income Housing Tax Credit market just over a year ago, Fannie Mae is continuing its focus on affordable rental housing in underserved markets by committing $145 million in new investments in LIHTC funds. Here's a breakdown on where the money is going.
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Take the 800 # customer service challenge

How fast does your subservicer pick up their phone lines and represent your company?
Go on. Call your subservicer. Are they answering in 60 seconds or less? Or, did they leave you on hold for 10, 20, or even 45 minutes? If your wait time felt like forever, guess what? That’s the exact same type of infuriating situation that you’re putting your customers through.
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