Technology

Taylor Morrison Home Funding integrates LodeStar tech

The mortgage division of the homebuilder can now issue fast, accurate quotes in all 50 states
Taylor Morrison Home Funding integrated with LodeStar Software Solutions to quickly and accurately quote closing costs on new-home construction properties. Under the new partnership, Taylor Morrison Home Funding employees can obtain quotes instantly through Ellie Mae’s Encompass digital mortgage solution.
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AFR Wholesale announces partnership with Floify

New partnership could reduce loan processing time by 15 hours per loan
AFR Wholesale and Floify announced Wednesday both companies shook hands on a partnership, and AFR will now use Floify’s point-of-sale technology. AFR’s goal in partnering with Floify is to reduce origination time and increase broker productivity.
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Former Equifax manager sentenced to eight months house arrest for insider trading

Fined $50,000 and forced to forfeit $75,979 for taking advantage of knowledge of the Equifax breach
Former Equifax Manager Sudhakar Reddy Bonthu was just sentenced to eight months house arrest following his guilty plea admitting he used non-public information to profit off of the credit reporting agency’s massive data breach. Last year, just before Equifax announced that it had exposed the data of more than 148 million American consumers to hackers, Bonthu bought 86 “put” options in Equifax stock that expired on September 15, 2017, ahead of the subsequent drop in Equifax’s stock value in the wake of the breach.
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RealPage to pay $3 million to settle FTC allegations of faulty tenant screenings

FTC claims RealPage screenings could have returned incorrect criminal records
RealPage will pay $3 million in a settlement with the Federal Trade Commission, which accused the real estate tech and data company of providing landlords and property managers with faulty tenant screening results over a five-year period. According to the FTC, RealPage’s screening reports could have shown incorrect criminal records for a prospective tenant because of the company’s limited filtering system on its screenings.
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DocuSign announces new digital solution

Rooms for Mortgage will be available for beta testing later this month
DocuSign recently announced plans to enter its latest solution, Rooms for Mortgage, into beta testing later this month. DocuSign Global Real Estate Solutions General Manager Georg Gerstenfeld said Rooms for Mortgage is a major step forward for the digital mortgage.
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MBA Annual Alert: Quicken, loanDepot leaders see fintech barrier to Amazon buy-in

Anthony Hsieh and Bill Emerson say mortgage space still has too much friction
Rumors have long swirled that Amazon has eyes on the mortgage business, but industry leaders say it's unlikely the company will dive in just yet. At MBA's annual convention on Tuesday, Hsieh and Emerson said there's still too much chaos in the space, but predict that fintech is on the verge of changing all that.
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Genworth launches Home Suite Home

Program helps borrowers navigate the unexpected costs of homeownership
Genworth Mortgage Insurance, recently announced the launch of new home suite designed to preserve borrowers’ financial stability when facing unexpected homeownership costs. Genworth Senior Vice President of Customer Solutions Kevin McMahon said it is critical to not only help borrowers become homeowners, but to help them stay in their homes.
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Freddie Mac reveals Loan Advisor upgrades at MBA

New enhancements designed to give clients the “Freddie Edge”
Freddie Mac announced major tech upgrades to its Loan Advisor Suite on Monday at the MBA Annual in Washington, D.C. A number of new features – including the industry’s first integrated self-employment income asset solution – are designed to create a more efficient origination process and give clients what Single-Family EVP Dave Lowman calls "The Freddie Edge."
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Wells Fargo to begin buying eNotes

Digital mortgage revolution takes big step forward
Wells Fargo, which began accepting digital mortgage applications earlier this year, is about to take an even bigger step into digital mortgages, as the megabank announced Monday morning that it is going to begin buying eNotes (electronic promissory notes). To facilitate this expansion of its mortgage business, Wells Fargo is partnering with eOriginal, a digital solution provider for the mortgage industry and a HousingWire Magazine Tech100 winner in 2018.
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