Technology

Expert: Construction lending prepares to meet its perfect storm

Trillion-dollar industry greatly underserved
The construction lending industry is ripe for change as it struggles to keep up with the world’s changing technologies. One expert told HousingWire the industry remains in the stone ages when it comes to managing its mortgages. But now, it is preparing for the “perfect storm.”
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Built raises $21 million, aims to revolutionize construction lending

Plans to use money to expand in residential and commercial construction
Built, a provider of construction lending automation software and a 2017 HW Tech100 honoree as one of the top technology companies in the housing industry, announced this week that it raised $21 million that it plans to use to “transform” the construction lending industry.
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Sponsored By
United Wholesale Mortgage

Consistent tech innovations lead mortgage brokers to United Wholesale Mortgage

UWM attracts brokers with its tech-focused development
[Sponsored Content] In a fairly dated industry when it comes to tech, where the only consistent change is the variation of daily interest rates, UWM is a breath of fresh air in the mortgage industry with a seemingly endless stream of technology advancements and innovation.
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The Money Source unveils new subservicing platform, redefines servicing technology

Includes real-time information
New York-based The Money Source recently launched a new subservicing solution, helping bring updated technology to an infamously antiquated industry. Ali Vafai, president of The Money Source, explained in an interview with HousingWire why servicing is behind in technology innovation and what The Money Source is doing about it.
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Mr. Cooper unveils digital mortgage plan

Tells investors that digital mortgage application is coming in 2018
In the last two years, a number of lenders announced plans to digitize their mortgage application process, following the lead of Quicken Loans, which rolled out its “Rocket Mortgage” in November 2015. Now, Mr. Cooper, the nonbank formerly known as Nationstar, is about to join the growing list of mortgage lenders that are going digital.
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Ocwen picks Black Knight to take over mortgage servicing operations

Shifts away from controversial proprietary REALServicing platform
Ocwen Financial is officially moving its mortgage servicing operations away from its proprietary REALServicing platform, which was at the center of the company’s recent regulatory troubles with more than 30 states and the Consumer Financial Protection Bureau. The winning bidder for Ocwen's servicing operations: Black Knight.
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Fannie, Freddie reveal one place being neglected by new mortgage tech

Servicing industry is ripe for disruption
Here in the nation’s capital, experts from Fannie Mae and Freddie Mac explained the mortgage industry still lags other industries in terms of tech innovation. Speaking Wednesday at an event hosted by CoreLogic and the Urban Institute, Fannie and Freddie's folks forecasted which part of the mortgage industry is ripe for disruption.
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Now entering phase 2: The updated digital mortgage

What defines a digital mortgage?
Coverage on digital mortgages moved from transforming the front end of the process to transforming the back end: Phase two. In this interview with HousingWire, Simon Moir, digital mortgage manager with eOriginal, explained where digital mortgages are headed next and what is needed to make eClosings more common.
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