Technology

Ally Financial partnering with Better.com to launch digital mortgage platform

Ally now fully back in the mortgage space
Ally Financial, which all but exited the mortgage business back in 2012, got back into mortgages in earnest in 2016. Now, Ally is taking its mortgage business to the next level by going digital with help from Better.com (formerly known as Better Mortgage). Ally and Better announced Thursday that the companies are partnering to launch a digital mortgage platform for Ally.
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Real estate startup Reali acquires online lender Lenda, expands into mortgages

Launches Reali Loans
Reali, a flat-fee real estate startup that operates in California, is following the path laid out by other tech-focused real estate companies like Zillow, Redfin, and Opendoor and getting into the mortgage business. Reali announced Wednesday that it acquired Lenda, an online mortgage lender that launched in 2013 and currently operates in 12 states.
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Computer vision research led to SoftWorks AI's mortgage automation software

Trapeze for Mortgage Automation increases touchless automation with a high level of precision
Executive Conversations is a HousingWire web series that profiles powerful people in the financial industry, highlighting the operations and the people that make this sector tick. In the latest installment, we sit down with CEO of SoftWorks AI Ari Gross to discuss how his background in machine perception and computer vision research shaped the development of the company's mortgage automation software.
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Expert: Moving too quickly on tech adoption could be a mistake

Could create unforeseen errors
Lenders that move too quickly on adopting the latest technology could be making a mistake, and putting their mortgage business at risk. Lenders should be careful not to move too fast and create unforeseen errors, according to Sadie Gurley, Digital Risk head of diligence services and 2018 HousingWire Women of Influence winner.
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The fully digital mortgage has truly arrived as use of eNotes skyrockets by nearly 5,000%

eNotes registered on MERS system increases substantially in first quarter
For the last few years, there’s been a revolution underway in the mortgage business, as the industry moved closer to a fully digital mortgage, but new data suggests that the digital mortgage is becoming an industry-wide reality. A new report shows that the use of eNotes exploded in the first quarter of 2019, rising nearly 5,000% over last year.
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These two catalysts could spark a surge in home equity use

Here's how low interest rates and a wave of tech IPOs could affect the housing market
This year, two geysers of pent-up wealth are set to erupt, and the ripple effect just might inspire more homeowners to utilize their home equity. That's the theory proposed by Bloomberg columnist Conor Sen in a recent op-ed, in which he examines the possibility that U.S. homeowners might once again embrace debt and leverage now that memories of the financial crisis are beginning to fade. Will 2019 be the year of equity access?
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Pulte Mortgage going digital with help from Finicity

Homebuilder’s mortgage arm will use Fincity’s income verification platform
Pulte Mortgage, the mortgage lending arm of homebuilder PulteGroup, is partnering with 2019 HW Tech100 winner Finicity to further digitize its lending process. Pulte Mortgage and Finicity announced this week that the homebuilder will begin using Finicity’s digital income verification platform, which will allow the lender to reduce its processing time for mortgages.
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Can iBuyer platforms co-exist with Zillow?

Execs from Opendoor, Offerpad and Knock weigh in at San Francisco's Lendit Fintech Conference
Home trade-in platforms like Knock, Opendoor and Offerpad are seeking to bring a simpler home buying and selling process for homeowners. What does it mean for them now that Zillow is in their rearview mirrors and stepping on the gas?
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Ben Carson bashes "imaginary belief" that HUD aims to dismantle fair housing protections

Responds to WaPo editorial calling HUD's Facebook charges "curious"
Ben Carson said his critics have it all wrong – he is not trying to unravel the fair housing rules put into play by the Obama administration, he is trying to uphold them. This is the gist of a heated response that the HUD secretary wrote to an op-ed penned recently by The Washington Post's editorial board, which suggested HUD's recent action against Facebook is fueled by an ulterior motive.
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