Tag Archives: Mortgage

Dark Matter Technologies’ Product Evangelist Craig Rebmann honored with 2024 HW Insiders Award

JACKSONVILLE, Fla. /ScoopCloud/ -- Dark Matter Technologies (Dark Matter), an innovative leader in mortgage technology backed by time-tested loan origination software and leadership, today announced that Craig Rebmann, its product evangelist, has been named a 2024 HW Insider. Now in its ninth year, the HW Insiders program recognizes talented operations professionals laying the foundation of success for their organizations.

Rebmann was hand-selected by Dark Matter's CEO Rich Gagliano to lead the Empower product integration team in 2011, back when the loan origination system (LOS) had far fewer clients and was in need of a new direction. Over the next 12 years, Rebmann played a critical role in helping transform Empower into the most advanced and one of the most-used core origination technologies, now used by more than 80 lenders. Never one to rest on his laurels, today Rebmann continues to wield great influence as product evangelist, where he works hand-in-glove with Dark Matter Technologies' sales engineers to provide lenders with solutions tailored to their unique business models.

Equipped with exceptional knowledge and passion for Dark Matter's products, Rebmann was appointed product evangelist in 2023. In this role, Rebmann is now passing that product enthusiasm and inquisitiveness on to the Dark Matter sales team. Craig and his team regularly educate sales about product enhancements and best practice applications. He accompanies sales engineers on product demos, delving into lenders' business models and challenges to provide a consultative experience.

During his tenure leading product, Rebmann's notable accomplishments include bringing to market automated, task-based workflows that transform back-office productivity (also known as the Orchestration Engine); building out a more robust integration with the Exchange integration hub; and developing correspondent lending functionality within Empower.

"We are fortunate to have Craig guiding development decisions. His lengthy experience with Empower provides us with valuable insight to help Dark Matter's product and technology specialists identify the needs of customers and match them with the right solutions," said Dark Matter CEO Rich Gagliano. "His honesty, work ethic and enthusiasm encapsulate Dark Matter's values and are setting the table for a very bright future. We are so pleased he chose to join us when he did."

"The HousingWire Insiders honorees are the operational leaders who are the backbones of their organizations - driving innovation and efficiency, and creating opportunities for their organizations," said Clayton Collins, CEO of HW Media. "By improving user experiences, identifying market opportunities, and developing efficient processes, these outstanding individuals are propelling their organizations toward sustained growth and excellence."

The full list of winners is available on HousingWire.com.

About Dark Matter Technologies:

Operating with the nimble nature of a startup and the disciplined maturity of one of the industry's leading providers, Dark Matter Technologies delivers cutting-edge technology, unparalleled automation and relentless innovation to leading mortgage lenders and companies nationwide. For more information, visit https://www.dmatter.com.

Tags: #fintech #financialservices #marketing #mortgage

Dark Matter Technologies (Dark Matter), an innovative leader in mortgage technology backed by time-tested loan origination software and leadership, today announced that Craig Rebmann, its product evangelist, has been named a 2024 HW Insider. Now in its ninth year, the HW Insiders program recognizes talented operations professionals laying the foundation of success for their organizations.

Related link: https://www.dmatter.com

Argyle’s Rowdy Harris honored as HousingWire Insider

NEW YORK CITY, N.Y. /ScoopCloud/ -- Argyle, a platform providing automated income and employment verifications for some of the largest lenders in the United States, today announced its principal mortgage customer success manager Rowdy Harris has been honored as a 2024 HousingWire Insider. Now in its ninth year, the Insiders Award recognizes operational all-stars working behind the scenes in companies across the housing industry to drive innovation and underpin business growth.

Over the last 12 months, Harris has helped define Argyle's approach to mortgage customer onboarding and support, driving rapid and effective industry adoption of its award-winning verification of income and employment (VOIE) solution. The customer success team is the fastest-growing division in Argyle and has continued supporting customers efficiently throughout the 10X increase in verification volume and 1000% revenue growth Argyle has experienced over the last four quarters. Harris has served as the primary point of contact for more than 50 lenders, working closely with each to maximize the cost savings, time savings and borrower satisfaction they derive from Argyle and providing white-glove support daily as questions or other needs arise.

"It doesn't matter what your title is; anyone can be a leader," Harris said. "The most impactful leaders lead by example, and that's what I try to do. I share knowledge with my teammates, and they do the same in turn. It's all about taking initiative and communicating results to solve problems and deliver outstanding service."

"The HousingWire Insiders honorees are the operational leaders who are the backbones of their organizations - driving innovation and efficiency and creating opportunities for their organizations," said Clayton Collins, CEO of HW Media. "By improving user experiences, identifying market opportunities and developing efficient processes, these outstanding individuals are propelling their organizations toward sustained growth and excellence."

About Argyle:

Founded in 2018, Argyle is the leading provider of real-time income and employment verifications. As an authorized report supplier for Fannie Mae's Desktop Underwriter(r) validation service, Argyle empowers mortgage lenders to auto-retrieve paystubs and W-2s, understand consumers' ability to pay and improve loan quality-all at 60-80% less cost. Argyle's commitment to innovation is backed by investors including Bain Capital Ventures, SignalFire, Checkr and Rockefeller Asset Management.

For more information on Argyle's industry-leading platform, please visit https://argyle.com/.

To stay up to date on all Argyle news, sign up for our newsletter here: https://argyle.com/blog/.

Tags: @withArgyle @HousingWire #fintech #financialservices #innovation #customerservice #mortgage

Brand Assets: https://brand.argyle.com/downloads#logo

Argyle, a platform providing automated income and employment verifications for some of the largest lenders in the United States, today announced its principal mortgage customer success manager Rowdy Harris has been honored as a 2024 HousingWire Insider. Now in its ninth year, the Insiders Award recognizes operational all-stars working behind the scenes in companies across the housing industry to drive innovation and underpin business growth.

Related link: https://www.argyle.com/

LenderLogix Integrates Income, Employment Verification Services from Truv into LiteSpeed Mortgage Point-of-Sale

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced its integration with automated employment and income technology provider Truv. Through the integration, lenders can now access Truv's consumer-permissioned data platform through LenderLogix's point-of-sale (POS) LiteSpeed to obtain direct-to-source income and employment verification for mortgage applicants.

"With the integration of Truv's verification capabilities and LiteSpeed, lenders can now enjoy a streamlined workflow that reduces administrative tasks and frees up resources for improved customer service," said LenderLogix Co-Founder and CEO Patrick O'Brien. "This powerful combination eliminates the need for third-party verification services, leading to significant cost savings and lower overall loan processing expenses. Additionally, the automation speeds up loan approvals, allowing lenders to close loans faster and optimize their operational throughput.

Truv's technology covers 96% of the U.S. workforce and is proven to save lenders 60-80% compared to legacy verification providers. With immediate access to accurate income and employment data from Truv inside LiteSpeed, lenders can eliminate delays caused by manual document collection and improve review speed by obtaining more complete loan files from the point of application. Borrowers benefit from a simplified and quicker application process, reducing the number of touchpoints and providing a more user-friendly experience.

"Our integration with LenderLogix marks a significant advancement in our mission to revolutionize the mortgage origination process," said Kirill Klokov, CEO of Truv. "By combining our strengths, we are providing mortgage lenders with the tools they need to deliver exceptional service to their clients while improving operational efficiency."

About Truv

Truv is a leading provider of innovative solutions for income and employment verification. Committed to transforming the mortgage industry, Truv offers real-time, direct-source verification technology that enhances accuracy, efficiency, and borrower experience. For more information, visit Truv's Website.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced its integration with automated employment and income technology provider Truv. Through the integration, lenders can now access Truv's consumer-permissioned data platform through LenderLogix's point-of-sale (POS) LiteSpeed to obtain direct-to-source income and employment verification for mortgage applicants.

Related link: https://www.lenderlogix.com/

ACES Quality Management Enhances ACES Deposit Account Audit Pack for Banks and Credit Unions

DENVER, Colo. /ScoopCloud/ -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its Deposit Accounts Audit Pack. The pre-configured audit pack is designed to assist financial institutions with meeting the deposit account monitoring requirements from the Federal Deposit Insurance Corporation (FDIC) and other prudential regulators.

"The monitoring of both new and existing deposit accounts is an important component of any strong consumer risk management program," said ACES CEO Trevor Gauthier. "With the ACES Deposit Audit Pack, banks and credit unions can quickly and easily automate oversight of their deposit accounts to ensure compliance and mitigate risk."

The ACES Deposit Audit Pack includes custom data fields, ACES Managed Questionnaires (AMQs) and three new custom reports in Business Objects. Using ACES' Flexible Audit Technology, all features can be customized to meet a financial institution's needs and workflows.

To learn more about the ACES Deposit Audit Pack or the full suite of audit packs available within ACES Quality Management & Control Software®, visit our website.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control Software® to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 retail banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its Deposit Accounts Audit Pack. The pre-configured audit pack is designed to assist financial institutions with meeting the deposit account monitoring requirements from the Federal Deposit Insurance Corporation (FDIC) and other prudential regulators.

Related link: https://www.acesquality.com/

Mortgage industry veteran Brad Cardwell joins Down Payment Resource as vice president of sales and business development

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, today announced 20-year mortgage industry veteran Brad Cardwell has joined DPR as its vice president of sales and business development.

In his new role, Cardwell will lead DPR's enterprise sales, growing both its sales team and partner network, with the goal of making more housing professionals and consumers aware of the availability and benefits of DPA for a range of homebuying expenses and property types.

"We are very excited to have someone of Brad's stature and experience join DPR to extend our sales efforts at a very critical time for our company," said DPR Founder and CEO Rob Chrane. "In the midst of an ongoing affordability crisis, we're seeing more program providers and more down payment assistance options than ever and it's our mission to get DPA into the hands of more homebuyers through their lender or real estate professional. There's never been a time when DPA is more important and we're looking to Brad to help us spread the word."

Cardwell started his mortgage career as a loan officer and team leader at Embrace Home Loans, where he worked for 19 years, most recently as vice president of innovation for revenue and sales enablement. In this position, he launched the Sales Enablement Product Owner role, providing oversight of sales and marketing operations, including crafting go-to-market strategies and managing its technology stack to elevate organizational productivity. As the bridge between the executive team and sales, he led improvements in systems and processes, mitigating risks for loan officers and attaining a 3.5-day reduction in Embrace's lead-to-close timeline.

He also previously served on the executive advisory board of nCino (formerly SimpleNexus, an nCino Company), providing feedback for the product and roadmap.

"I'm especially grateful for this opportunity to contribute to a company that is truly making a difference," Cardwell said. "DPR is at the forefront of helping homebuyers access down payment assistance programs making homeownership more attainable for many. I'm inspired by their mission and can't wait to dive in and collaborate with such an innovative and dedicated team."

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

X/Twitter: @DwnPmtResource #downpaymentassistance #affordablehousing #downpayment

Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, today announced 20-year mortgage industry veteran Brad Cardwell has joined DPR as its vice president of sales and business development.

Related link: https://www.downpaymentresource.com/

Informative Research’s Kelly Richards Receives MPA Elite Women Award

IRVINE, Calif. /ScoopCloud/ -- Informative Research, a leading technology platform that delivers data-driven solutions to the lending community, announced today that Kelly Richards, Head of Sales Support, has been named a winner of the MPA Elite Women 2024 by Mortgage Professional America (MPA). This award recognizes exceptional female leaders who have significantly contributed to the mortgage industry.

Richards' selection highlights her noteworthy achievements, forward-thinking initiatives and unwavering dedication. With over 30 years of experience, Kelly has been essential in driving impactful programs and fostering positive change within Informative Research and the broader industry. Her focus on creating, executing and launching successful client partnerships through comprehensive engagement strategies, process reviews and workflow efficiencies has set a new standard for excellence in sales support.

"Kelly's dedication to enhancing client experiences and her leadership in driving creative solutions make her a deserving recipient of the MPA Elite Women 2024 award," said Informative Research President Sean Buckner. "Kelly's commitment to customer success coupled with her passion for high performance within her entire team exemplifies the qualities of a true industry leader. We are proud to have Kelly on our team and celebrate her remarkable achievements."

As Head of Sales Support at Informative Research, Richards has spearheaded proactive client outreach efforts, enhancing the client onboarding process and leading the account management team to ensure the highest levels of support and service. Her previous account management experience gave her a deep understanding of customer experience, enabling her to develop key process improvements that significantly enhance client workflows.

The MPA Elite Women 2024 list was compiled through a rigorous nomination and review process, selecting 50 outstanding women who have made their mark in the industry. The awards recognize exceptional female leaders who have demonstrated excellence and contributed significantly to the mortgage industry. These influential women excel in their roles, blaze trails and achieve remarkable feats in the mortgage industry.

About Informative Research:

Informative Research, a Stewart company, is a leading technology platform that delivers data-driven solutions to the lending community. The solutions provider currently serves mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with its straightforward service model, progressive solutions, and cutting-edge technology. To learn more, visit https://hubs.ly/Q02J4dG50.

About Mortgage Professional America:

We are the world's leading independent mortgage publisher (www.mpamag.com), reaching over 140,000 mortgage and finance professionals daily in four markets. We publish magazines, daily news, opinion and analysis in addition to a growing series of special reports - industry surveys and rankings showcasing the best individuals, companies and products in the market.

Informative Research, a leading technology platform that delivers data-driven solutions to the lending community, announced today that Kelly Richards, Head of Sales Support, has been named a winner of the MPA Elite Women 2024 by Mortgage Professional America (MPA). This award recognizes exceptional female leaders who have significantly contributed to the mortgage industry.

Related link: https://www.informativeresearch.com/

Informative Research Enhances Verification Platform through Expanded Integration with The Work Number® from Equifax

GARDEN GROVE, Calif. /ScoopCloud/ -- Informative Research, a leading technology platform delivering data-driven solutions to the lending community, today announced the expansion of its verification platform through the integration of additional Equifax solutions that leverage The Work Number®, the industry-leading commercial source of consolidated income and employment information. With this enhancement, Informative Research provides its customers with extensive options for receiving the specific records from The Work Number that help meet their needs at each step of the mortgage process.

Integrating new solutions from The Work Number offers lenders a broader spectrum of verification options and enhances the flexibility and efficiency of their verification processes. The release will include every solution Equifax makes available to mortgage resellers via API. Lenders will have more choice in how they configure their verification strategies.

"We recognized the need to expand our product offerings to meet the evolving demands of the lending industry," said Informative Research's SVP of Marketing, Craig Leabig. "By seamlessly incorporating The Work Number solutions into our Verification Platform, Informative Research empowers lenders with advanced verification tools, driving efficiency and speed in the loan origination process."

Among the newly added solutions from Equifax are:

* Mortgage Ultimate™
* Mortgage Select All™
* All Employers Within 12 Months™
* All Employers Within 24 Months™
* All Employers Within 36 Months™
* All Employers Within 60 Months™
* Employment Select+™

These additions expand the platform's capabilities, allowing lenders to better tailor their verification processes to meet specific needs.

"We are thrilled to collaborate with Informative Research to integrate additional solutions from The Work Number into their Verification Platform," said Joel Rickman, SVP of Verification Solutions, Equifax Workforce Solutions. "This collaboration underscores our shared commitment to innovation and efficiency in verification services within the mortgage industry."

About Informative Research

Informative Research, a Stewart company, is a leading technology platform that delivers data-driven solutions to the lending community. The solutions provider currently serves over 3,000 mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with its straightforward service model, progressive solutions, and cutting-edge technology. To learn more, visit https://www.informativeresearch.com.

Informative Research, a leading technology platform delivering data-driven solutions to the lending community, today announced the expansion of its verification platform through the integration of additional Equifax solutions that leverage The Work Number®, the industry-leading commercial source of consolidated income and employment information.

Related link: https://www.informativeresearch.com/

MMI Taps Dan Jones as Chief Data Officer as It Expands Data Initiatives and Features

SALT LAKE CITY, Utah /ScoopCloud/ -- Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, announced today that Dan Jones, a seasoned data and artificial intelligence (AI) strategist, has joined the company as chief data officer.

"Dan's experience and understanding of our mission as an organization cannot be overstated. His addition to the team underscores MMI's dedication to attracting top talent," said MMI Founder and CEO Ben Teerlink. "We're looking forward to building greater efficiencies, insights and heightened data intelligence into MMI at the enterprise and individual level."

Jones joins MMI after a 17-year tenure at Rocket Companies (NYSE: RKT), where he rose from business intelligence (BI) engineer to senior vice president and head of data intelligence at Rocket Mortgage and Rocket Central. He played a leading role in establishing Rocket's BI and data science capabilities, operationalizing AI initiatives and driving revenue growth through data-driven strategies. Jones led the creation of Rocket's multi-petabyte data platform, which Rocket has publicly reported as powering more than 3.7 billion AI-generated decisions annually and supporting billions in closing volume from data-driven lead generation, contributing to Rocket's 90%+ client retention rate.

"I am excited to bring my skillset to MMI and am truly impressed by what MMI has built thus far," said Jones. "I look forward to building upon their expansive big data platform and infusing new insights and AI capabilities into their products. MMI's data assets, expanding set of experiences and connected capabilities are primed to become even more insightful, personalized, and actionable for its users."

Jones graduated with a master's degree from Michigan State University, where he studied management of information systems and computer science.

About MMI

Mobility Market Intelligence (MMI) is a market leader in data intelligence and market insight tools for the mortgage and real estate industries. Headquartered in Salt Lake City, the company's signature product, MMI, provides actionable intelligence for lenders, real estate agents, real estate brokerages, title companies and others in the real estate industry. MMI is currently used by more than 450 enterprise customers, including more than half of the top 100 lenders in the country. To learn more, visit https://mmi.io or contact sales@mmi.io.

Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, announced today that Dan Jones, a seasoned data and artificial intelligence (AI) strategist, has joined the company as chief data officer.

Related link: https://mmi.io

Federal funds fuel quarterly growth in U.S. down payment assistance programs, which now number 2,415

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, today released its Q2 2024 Homeownership Program Index (HPI) report. The Q2 report saw the national homebuyer assistance programs increase by 42 to 2,415 - the highest count on record. Much of this quarter's increase in program count was due to local agencies pulling more heavily from federal funding to support homebuyer assistance.

"It's very encouraging to see more state HFAs allocating American Rescue Plan Act (ARPA) and US Department of Health and Human Services (HHS) funds to support homeownership. We think this indicates that local municipalities are increasingly viewing affordable homeownership as a stabilizing force that fosters prosperity within communities," said Rob Chrane, founder and CEO of DPR. "We are also particularly encouraged by the rise in programs targeting first-generation homebuyers to ensure more Americans can achieve the dream of homeownership."

Key HPI Report Findings

An examination of the existing 2,415 homebuyer assistance programs on July 1, 2024, resulted in the following key findings:

* The number of U.S. homebuyer assistance programs increased by 42 quarterly. This represents a 2% increase over the previous quarter and 213 more programs than in Q2 2023.

* 29 more program providers supported homebuyer assistance in Q2 2024 than the previous quarter.

* Federally-funded programs are on the rise.

o 24 programs are now funded by the ARPA, a 26% increase from the previous quarter and a 200% increase year-over-year (YoY). The ARPA authorized $350 billion in 2021 to help state, local, and tribal governments respond to and recover from the COVID-19 pandemic. APRA-funded homebuyer assistance programs are on the rise because governments must return funds to the Treasury Department if they are not allocated by December 31, 2024, and spent by December 31, 2026.

o The number of programs funded by HHS increased by 19% quarterly and 121% annually to 31 programs. Many studies have shown that stable housing positively impacts the health of individuals and families. This understanding is likely why HHS is increasingly supporting affordable housing.

* 21 programs target first-generation buyers, a 133% increase from 9 in Q1 2024. First-generation homebuyers are less likely to receive financial assistance from their parents for a downpayment and other upfront home-buying costs. "This is a recent trend we are seeing in the past year or so that started with a few pilot programs and is now being replicated by agencies throughout the country," said Chrane.

* 970 programs allow for repeat buyers, while 1,445 are restricted to first-time buyers. "While the majority of programs are for first-time buyers, we've seen a steady uptick in the number of programs that allow for repeat buyers," said Chrane, noting that the YoY change is 11%.

A more detailed analysis of the Q2 2024 HPI findings, including infographics and examples of the programs described in this release, can be found on DPR's website at https://downpaymentresource.com/professional-resource/the-down-payment-resource-q2-2024-homeownership-program-index-report.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2024/07/HPI-state-by-state-data.Q22024.pdf.

Methodology

Published quarterly, DPR's HPI surveys the funding status, eligibility rules and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits and other housing organizations. DPR communicates with over 1,300 program providers throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates (MCCs) and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,400 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by seven of the top 25 mortgage lenders, the three largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

X: @DwnPmtResource #downpaymentassistance #affordabilitycrisis #housingaffordability #mortgage #housingequity #downpayment

Down Payment Resource (DPR), the housing industry authority on homebuyer assistance program data and solutions, today released its Q2 2024 Homeownership Program Index (HPI) report. The Q2 report saw the national homebuyer assistance programs increase by 42 to 2,415 - the highest count on record. Much of this quarter's increase in program count was due to local agencies pulling more heavily from federal funding to support homebuyer assistance.

Related link: https://www.downpaymentresource.com/

Optimal Blue Launches New Generative AI Assistant Capabilities

PLANO, Texas /ScoopCloud/ -- Optimal Blue today announced the delivery of generative AI capabilities centered on helping lenders maximize profitability on every loan transaction. Through direct engagement with its thousands of clients, the company has begun delivering generative AI capabilities built for secondary-market-specific use cases and purposefully designed to solve the real-world challenges that mortgage lenders face. The company's launch of AI assistants has initiated with the release of three new AI capabilities in Optimal Blue's CompassEdge hedging and loan trading platform.

"Optimal Blue's priority is to continuously maximize profitability for lenders on every single loan, and generative AI affords us infinite opportunities to do so," said Joe Tyrrell, CEO of Optimal Blue. "We deploy an intentional approach to developing and delivering AI assistants with machine learning capabilities that are based on actual opportunities and challenges lenders are facing. At a time when there is so much noise in the industry with companies claiming to have AI, at Optimal Blue, we are delivering true AI with the sole purpose to increase profitability for lenders, so all of these generative AI capabilities are being provided to our clients at no additional cost. We believe that core innovation shouldn't represent incremental cost, but rather should be what you expect out of your partner."

Optimal Blue Chief Technology Officer Seever Sulaiman, who has led the development and adoption of the company's AI framework, added, "We've established a foundation for implementing AI capabilities across the entire organization. Our engineering team has been trained on utilizing AI tools internally to enhance productivity. This has, in turn, positioned us to deliver AI capabilities and other value-add innovation to our clients even faster."

As part of its directed focus on AI, Optimal Blue has channeled its decades of experience and expertise to launch three new AI-powered assistants in its CompassEdge platform. These capabilities - a Profitability Assistant designed for chief financial officers (CFOs), a Projections Assistant designed for capital markets leaders, and a Trade Assistant designed for leaders of a lender's trading desk - all help lenders reduce manual processes associated with profitability attribution, calculating projections, and optimizing trade selection.

"Secondary teams are responsible for maximizing pipeline profitability and communicating results to their executive teams, but doing so is fraught with time-consuming analyses, complex calculations, and inevitable human bias," said Mike Vough, vice president of hedging and trading products at Optimal Blue. "We built the AI-powered assistants in CompassEdge with these pain points in mind so our clients can benefit from more accuracy and less manual work, all in favor of more basis points and greater profitability. We estimate that these assistants can help save a secondary marketing manager up to 30 hours a month in some instances - valuable time that can instead be channeled toward more strategic work."

The first new capability in CompassEdge, Profitability Assistant, uses generative AI to write a succinct summary of the top drivers that caused a gain or loss of profitability in a pipeline, including new locks, fallout, loan sales, bulk AOT, and more. Designed specifically for CFOs and other members of a lender's executive team, these summaries promote greater transparency between secondary and the C-suite.

Another new capability, Projections Assistant, uses AI to predict the real-time impact of various factors on the risk profile of a hedged mortgage pipeline, including originations, fallout, loan sales, and more. Otherwise requiring a seasoned capital markets professional, Projections Assistant automates the consumption of Optimal Blue's extensive data sets and completes complex calculations to deliver extremely granular projections for position management.

Finally, Trade Assistant uses AI to reduce the guesswork that goes into the selection of a hedge, a process that would otherwise require an experienced capital markets professional. With one click, the tool suggests a combination of sells, buys, rolls, and swaps to maximize effectiveness in alignment with a lender's hedge policy, while minimizing transaction cost.

All three AI assistants are available to CompassEdge users for no additional fee.

About Optimal Blue:

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes maximize profitability and operate efficiently so they can help American borrowers achieve the dream of homeownership. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that, in any market environment, allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between. To learn more, visit https://OptimalBlue.com/

Optimal Blue today announced the delivery of generative AI capabilities centered on helping lenders maximize profitability on every loan transaction. Through direct engagement with its thousands of clients, the company has begun delivering generative AI capabilities built for secondary-market-specific use cases and purposefully designed to solve the real-world challenges that mortgage lenders face.

Related link: https://www2.optimalblue.com/

Informative Research’s Shannon Santos Wins Mortgage Stars Award

IRVINE, Calif. /ScoopCloud/ -- Informative Research, a leading technology platform that delivers data-driven solutions to the lending community, announced today that Shannon Santos, Executive Vice President of Data Solutions, has been selected for the Mortgage Stars Award by Mortgage Women Magazine. This award recognizes exceptional women leaders making significant contributions to the mortgage industry.

Santos' selection highlights her dedication to the mortgage industry through her multifaceted expertise, innovative solutions and pursuit of addressing industry challenges. As the Executive Vice President of Data Solutions, she specializes in risk management and data-driven quality control solutions, empowering lenders to navigate complex regulatory landscapes efficiently. Her profound understanding of industry challenges, such as rising origination costs and compliance burdens, is a testament to her commitment to the industry.

"Shannon's holistic approach to improvement, from technological advancements to mentoring initiatives, demonstrates her commitment to excellence and positions her as a standout nominee," said Informative Research President Sean Buckner. "Her ability to leverage technology and develop tailored solutions, as demonstrated by her successful integration projects and cost-saving initiatives, truly sets her apart as a Mortgage Star."

Santos' commitment to streamlining processes is a professional endeavor and a mission to inspire change. Her advocacy for cost-effective prequalification tools like Informative Research's SoftQual enhances lenders' efficiency and sets a new standard for the industry. Santos' forward-thinking approach to improving borrower qualification processes through predictive modeling for lead generation is a testament to her innovative spirit. By reshaping industry practices and facilitating access to creative solutions, she inspires others to drive efficiency, compliance and profitability.

The Mortgage Star Awards celebrates the strong and inspiring women in the mortgage sector who excel in their roles, blaze trails, inspire others and achieve remarkable feats beyond the ordinary. This year's honorees exemplify these qualities through their pioneering efforts, leadership and innovation in the mortgage industry.

The honorees will be featured in issue 3 of Mortgage Women Magazine, including profiles of each winner. Additionally, they will be celebrated at the Mortgage Star Awards Luncheon in New Orleans on July 10. This event will coincide with the Mortgage Star Conference, offering registered honorees free admission and a physical plaque.

About Informative Research

Informative Research, a Stewart company, is a leading technology platform that delivers data-driven solutions to the lending community. The solutions provider currently serves mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with its straightforward service model, progressive solutions, and cutting-edge technology. To learn more, visit https://www.informativeresearch.com.

Informative Research, a leading technology platform that delivers data-driven solutions to the lending community, announced today that Shannon Santos, Executive Vice President of Data Solutions, has been selected for the Mortgage Stars Award by Mortgage Women Magazine. This award recognizes exceptional women leaders making significant contributions to the mortgage industry.

Related link: https://www.informativeresearch.com/

LenderLogix Q2 2024 Homebuyer Intelligence Report Data Shows Home Buying Activity and Fees Collected by Fee Chaser Remain Steady Thus Far in 2024

BUFFALO, N.Y. /ScoopCloud/ -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the second quarter (Q2) of 2024.

Pre-Approvals

In Q2 2024, borrowers generated 58,057 pre-approval letters through LenderLogix's QuickQual pre-approval platform, an 8% increase from Q1 2024. The average number of pre-approved borrowers per loan officer increased from 25 in Q1 2024 to 29 in Q2 2024.

The average pre-approval letter loan amount slightly decreased from $309,771 in Q1 to $308,681 in Q2. However, the average sales price slightly increased from $358,175 to $362,780. The average down payment size shows a change, marginally increased from 13.6% in Q1 to 14.6%.

Conventional loans remained the most popular loan type for pre-approved borrowers, staying consistent at 76%. FHA pre-approvals increased incrementally from 17.6% to 17.8%. VA (4%) and USDA share (1%) maintained their share from Q1 to Q2 2024.

"Overall borrower activity has stayed consistent in 2024," said LenderLogix Co-Founder and CEO Patrick O'Brien. "Given these steady numbers, loan officers leveraging our products have been able to maintain steady business and origination levels. With QuickQual's conversation rate at 58% and the average per fee collection size at $646, loan officers are continuing to focus on what's working for them in the current market."

Borrower Conversion

Of the borrowers using QuickQual in Q1 2024, the average number of days between pre-approval and loan submission increased nearly 8% to 85 days compared to 78.29 days in Q1. The most prolonged duration between pre-approval and application decreased from 699 days in Q1 to 603 days. Despite this significant change, the conversion from borrowers using QuickQual to loan application increased slightly to 58% from 57% in Q1. Within this subset, borrowers generated an average of 8.7 pre-approval letters before converting.

"While the Federal Reserve's decision to hold on rate cuts until possibly later in the year may have dampened lenders' expectations, borrowers seem to have come to terms with the current state of interest rates and are committed to buying, though perhaps not to the same degree as in previous purchase cycles," O'Brien noted. "The lesson we've observed through the first half of 2024 is that there is business to be had, but lenders may need to dig deeper to find it."

Data from LenderLogix Homebuyer Intelligence Report is available to the industry free of charge. To learn more about LenderLogix, visit www.lenderlogix.com.

About LenderLogix

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software to meet the needs of today's mortgage lenders. The company's suite of products addresses the speed at which today's real estate market moves by delivering technology solutions that create agile and informed borrowers, build strong referral partners and ultimately save lenders time and money. For more information, visit https://www.lenderlogix.com/.

LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced the latest release of the Homebuyer Intelligence Report, a quarterly summary of insights into borrower behavior during the home buying process based on data collected by the LenderLogix suite of tools. The latest report covers data collected during the pre-approval and borrower application process during the second quarter (Q2) of 2024.

Related link: https://www.lenderlogix.com/

Click n’ Close Chief Operations Officer Kara Lamphere Selected in Mortgage Women Magazine’s Annual Mortgage Star Award Program

ADDISON, Texas /ScoopCloud/ -- Click n' Close, a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels, today announced Kara Lamphere has been named a Mortgage Star in Mortgage Women Magazine's annual awards program.

Kara's position as a Mortgage Star is marked by her exceptional leadership, innovative mindset and unwavering commitment to excellence. With more than 20 years of experience in various facets of the mortgage industry, Kara possesses a unique blend of expertise in compliance, operations, quality control and audit.

"Kara is the COO every business wants," said Click n' Close Founder and CEO Jeff Bode. "In addition to ensuring the efficiency of our internal operations, Kara has also played a key role in bringing our initiatives such as our down payment assistance with shared appreciation product to market. She's extremely deserving of this recognition, and we congratulate her on this latest achievement."

"My passion for mentoring, team building and problem solving has been the key to my professional success, and I'm proud to have leveraged those skills in developing the proprietary DPA offerings we've created at Click n' Close to help address the affordability issues affecting potential homebuyers," said Lamphere. "I'm honored the Mortgage Women Magazine team has chosen me as a recipient of this year's Mortgage Star award and hope to continue addressing future market challenges through technology and innovation."

The Mortgage Star awards program celebrates strong and inspiring women within the mortgage sector. To view the complete list of the 2024 Mortgage Stars, visit: https://nationalmortgageprofessional.com/magazine/mortgage-women-magazine/empire-state-drive/digital-edition

About Click n' Close, Inc.:

Click n' Close, Inc., formerly known as Mid America Mortgage, is a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels and is also the nation's leading provider of Section 184 home loans for Native Americans. In operation since 1940, Click n' Close has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings and eNotes.

Combining this culture of innovation with a risk management mindset enables Click n' Close to deliver new products to market that address the challenges facing both borrowers and third-party originators (TPOs). These innovations include its USDA one-time close construction loans, proprietary down payment assistance (DPA) program and reverse mortgage division. Its direct relationships with Fannie Mae, Freddie Mac, Ginnie Mae and private investors afford Click n' Close direct access to the capital markets, thus ensuring maximum liquidity for its product innovations. By servicing its loan programs in-house, Click n' Close provides its wholesale and correspondent partners with an additional level of certainty regarding loan salability and superior borrower service over the life of the loan.

Learn more at https://www.clicknclose.com/.

Click n' Close, a multi-state mortgage lender serving consumers and mortgage originators through its wholesale and correspondent channels, today announced Kara Lamphere has been named a Mortgage Star in Mortgage Women Magazine's annual awards program.

Related link: https://www.clicknclose.com/

MMI’s VP of Strategic Partnerships Heidi Iverson Named a Mortgage Star in Mortgage Women Magazine’s Annual Award Program

SALT LAKE CITY, Utah /ScoopCloud/ -- Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, today announced Heidi Iverson, vice president of strategic partnerships, has been named a Mortgage Star by Mortgage Women Magazine.

"Regardless of market conditions, leveraging data and strategic partnerships enables mortgage professionals to thrive," said MMI Founder and CEO Ben Teerlink. "Heidi's extensive industry experience, deep product expertise and recruiting background uniquely position her to help guide our enterprise users in getting the most out of the MMI platform. She is an integral part of our team, and we are thrilled to see the industry recognize her for her efforts."

Iverson was selected as a Mortgage Star for her contributions in helping users harness MMI's robust capabilities to deliver custom-tailored insights and feedback. Through webinars and speaking engagements at industry events, Heidi regularly showcases live the transformative power of MMI's data intelligence and market insights.

"With my background in sales and consulting, I know firsthand how data drives success in a business. At MMI, it's rewarding to show lenders how to use our data to drive their business success," said Iverson. "It's an honor to receive this recognition and I look forward to having more transformative conversations with recruiters and loan officers.

The Mortgage Star awards program celebrates strong and inspiring women within the mortgage sector. To view the complete list of the 2024 Mortgage Stars, visit: https://nationalmortgageprofessional.com/magazine/mortgage-women-magazine/empire-state-drive/digital-edition

About MMI:

Mobility Market Intelligence (MMI) is a market leader in data intelligence and market insight tools for the mortgage and real estate industries. Headquartered in Salt Lake City, the company's signature product, MMI, provides actionable intelligence for lenders, real estate agents, real estate brokerages, title companies and others in the real estate industry. MMI is currently used by more than 450 enterprise customers, including over half of the top 100 lenders in the country. To learn more, visit https://mmi.io or contact sales@mmi.io.

Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, today announced Heidi Iverson, vice president of strategic partnerships, has been named a Mortgage Star by Mortgage Women Magazine.

Related link: https://mmi.io

Falling Home Prices and Purchase Mortgage Locks Reveal a Stagnant Late-Spring Housing Market

PLANO, Texas /ScoopCloud/ -- Optimal Blue today released its June 2024 Market Advantage mortgage data report, which revealed a stagnant late-spring housing market as home prices dropped for the first time in 2024 and purchase lock counts fell 8% over the previous year. All mortgage lock figures in this news release have been controlled for fewer market days in June.

"Despite an improvement in interest rates, purchase activity was subdued in June. However, many homeowners with higher rates - particularly those who closed on their mortgage in the last 12 to 18 months - jumped at the opportunity to refinance, even for a small reduction in monthly payments. This behavior speaks to the ongoing inventory and affordability challenges consumers are experiencing," said Brennan O'Connell, director of data solutions at Optimal Blue. "As we look toward the back half of 2024 and the potential for rate relief from the Fed, purchase lock counts will provide insight into if and when production will turn the corner."

Key findings from the Market Advantage report, which are drawn from direct-source mortgage lock data are:

* Small dip in interest rates: The benchmark OBMMI 30-year conforming rate bottomed out on June 13 at 6.810% before ending the month at 6.938%, 8 bps lower than the close of May. The retreat in mortgage rates prompted a 39% MoM increase in rate-and-term refinance volume.

* Year-over-Year purchase lock counts fall: After showing a YoY increase in April, purchase lock counts - a key measure for market health that excludes the impact of home price appreciation (HPA) and volatile refinance activity - have been down for two consecutive months this spring, falling 4% YoY in May and 8% YoY in June.

* Lethargic volume despite jump in refis: Total volume was up 2% over the previous month, an incremental increase driven by a 22% jump in refinance activity[1][BO2]. Purchase volume declined by 1% over the same time period.

* Credit remains high, but varies by locale: While average credit scores remained high across the board at 738, they varied widely among the top 20 metropolitan statistical areas (MSAs) by lock volume. The San Francisco-Oakland-Hayward MSA had the highest average credit score at 757, while Atlanta-Sandy Springs-Roswell, GA, had the lowest.

* Home prices drop for first time this year: The average home purchase price ended its five-month growth streak, dropping $1.5K, from $480.3K to $478.8K. MoM, the average loan amount declined by $300 to $374.2K.

The full June 2024 Market Advantage report provides more detailed findings and additional insights into U.S. mortgage market trends.

About the Market Advantage Report:

Formerly known as the Originations Market Monitor, Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE - the mortgage industry's most widely used product, pricing, and eligibility engine - the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders' pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes operate profitably and efficiently so they can fulfill the momentous role of helping American borrowers achieve the dream of homeownership, regardless of market dynamics. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between. To learn more, visit OptimalBlue.com.

Optimal Blue today released its June 2024 Market Advantage mortgage data report, which revealed a stagnant late-spring housing market as home prices dropped for the first time in 2024 and purchase lock counts fell 8% over the previous year. All mortgage lock figures in this news release have been controlled for fewer market days in June.

Related link: https://www2.optimalblue.com/

Informative Research Adds Brandon Hall as New EVP of Operations

GARDEN GROVE, Calif. /ScoopCloud/ -- Informative Research, a leading technology platform that delivers data-driven solutions to the lending community, has named Brandon Hall as its new executive vice president (EVP) of operations. Hall brings over 20 years of experience driving operational excellence within the financial services sector and is known for implementing innovative process improvements, fostering cross-functional collaboration and leading through change.

"Brandon's extensive background in process transformation and operational excellence will be a tremendous asset to Informative Research," said Informative Research Chief Operating Officer Patrick Buckner. "His proven track record in enhancing efficiency, quality and service metrics aligns perfectly with our mission to streamline origination costs and enhance the borrower experience."

As EVP of Operations, Hall will lead all operational activities, focusing on driving efficiency, productivity, and exceptional customer service. Reporting to the COO, he will oversee a large production support staff and managers, ensuring seamless execution of operational processes aligned with organizational goals.

"I am thrilled to join Informative Research and contribute to its mission of transforming the mortgage landscape," said Hall. "With its pioneering technology and commitment to reducing costs for lenders while enhancing the borrower experience, I look forward to driving innovation and delivering solutions that meet the evolving needs of our clients."

About Informative Research

Informative Research, a Stewart company, is a leading technology platform that delivers data-driven solutions to the lending community. The solutions provider currently serves over 3,000 mortgage companies, banks, and lenders throughout the United States. The company is recognized for streamlining the loan process with its straightforward service model, progressive solutions, and cutting-edge technology. To learn more, visit https://www.informativeresearch.com/.

Informative Research, a leading technology platform that delivers data-driven solutions to the lending community, has named Brandon Hall as its new executive vice president (EVP) of operations. Hall brings over 20 years of experience driving operational excellence within the financial services sector and is known for implementing innovative process improvements, fostering cross-functional collaboration and leading through change.

Related link: https://www.informativeresearch.com/

Dovenmuehle’s Bernadette McDonnell named 2024 Mortgage Star Award Winner by Mortgage Women Magazine

LAKE ZURICH, Ill. /ScoopCloud/ -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that Vice President Bernadette McDonnell has been selected by Mortgage Women Magazine for its 2024 Mortgage Star Award.

McDonnell was chosen for her significant contributions to the industry and dedication to Dovenmuehle over the past four decades, during which time she has held roles in nearly every internal department. As Vice President, she has spearheaded the implementation of project plans to enhance transfer efficiency, ensuring meticulous compliance with state laws and regulations. Her leadership style fosters a positive work environment characterized by open communication and collaborative problem-solving, earning her the trust and admiration of colleagues and clients.

"Bernadette has been a cornerstone of Dovenmuehle's success for over forty years. Her unparalleled expertise in mortgage loan servicing, particularly in transfer and conversion processes, has driven operational excellence and client satisfaction," said Glen Braun, Senior Vice President of Dovenmuehle. "Her ability to tailor solutions to meet clients' unique needs and her commitment to continuous improvement has been instrumental in DMI's growth. Bernadette's dedication to mentoring the next generation of mortgage professionals and her unwavering commitment to excellence make her extremely deserving of this recognition by Mortgage Women Magazine."

The Mortgage Star Awards celebrates the strong and inspiring women within the mortgage sector who excel in their roles, blaze trails, inspire others and achieve remarkable feats that go beyond the ordinary. This year's honorees exemplify these qualities through their pioneering efforts, leadership and innovation in the mortgage industry.

Honorees will be featured in issue 3 of Mortgage Women Magazine, including profiles of each winner. Additionally, the honorees will be celebrated at the Mortgage Star Awards Luncheon in New Orleans on July 10. This event will coincide with the Mortgage Star Conference, offering registered honorees free admission and a physical plaque.

About Dovenmuehle:

Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans and loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high service levels to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at https://dovenmuehle.com/.

Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that Vice President Bernadette McDonnell has been selected by Mortgage Women Magazine for its 2024 Mortgage Star Award. McDonnell was chosen for her significant contributions to the industry and dedication to Dovenmuehle over the past four decades.

Related link: https://dovenmuehle.com/

Vice Capital Markets Launches Integration with Fannie Mae Mission Score API

NOVI, Mich. /ScoopCloud/ -- Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today it has integrated the Fannie Mae® Mission Score application programming interface (API) into its trading portal, allowing current clients to take advantage of pricing and best execution decisions to improve gain-on-sale.

"By utilizing current integrations with Fannie Mae and making minimal updates to current procedures, our development team was able to deliver our clients instant access to FNMA's Mission Index API," said Vice Capital Chief Information Officer Shawn Ansley. "The API integration gives our clients the peace of mind that the Mission Index value we are using to evaluate best execution on their loans is 100% accurate and incorporates all the required data components to accurately score each individual loan."

"The Mission Score API and Mission Score product grids are Fannie Mae's latest solutions intended to support affordable homeownership opportunities and promote mission-based financing to qualified borrowers," said Pete Skarnulis, Single-Family Business Account Management Solutions - Vice President at Fannie Mae. "Through close partnership and collaboration with our industry partners, we're able to introduce innovative solutions to the market at scale, helping to promote positive change across the mortgage industry."

About Vice Capital Markets

Since 2001, Vice Capital Markets has successfully managed interest rate risk and maximized profitability on more than $1 trillion in MBS trades and mortgage-related transactions for banks, credit unions and mortgage lenders of all sizes. With an average of more than 10 years' experience behind each of the traders on its team, Vice Capital has helped its clients realize, on average, a 25 to 55 basis point (bps) improvement over their best effort execution. Vice Capital's proprietary risk-management models and complex investor and agency best execution platform have consistently yielded safe and effective profit maximization for its clients.

To learn more, visit https://www.vicecapitalmarkets.com/ or call (248) 869-8100.

Vice Capital Markets, a leading mortgage hedge advisory firm for independent lenders, banks and credit unions, announced today it has integrated the Fannie Mae® Mission Score application programming interface (API) into its trading portal, allowing current clients to take advantage of pricing and best execution decisions to improve gain-on-sale.

Related link: https://www.vicecapitalmarkets.com/

Eighteen homebuyer assistance programs offering up to $117,000 are available to help people with disabilities and family caregivers purchase or modify a home

ATLANTA, Ga. /ScoopCloud/ -- In celebration of Disability Pride Month in July, Down Payment Resource (DPR) is highlighting 18 U.S. homebuyer assistance programs that are specifically designed to support people with disabilities and their family caregivers on their journey toward homeownership. While people with disabilities may be eligible for any of the 2,300-plus U.S. homebuyer assistance programs in DPR's database, 18 are specifically developed to promote accessibility and inclusivity for aspiring homeowners with disabilities.

People with disabilities represent about 15% of the world's population, spanning all ages, races, ethnicities, genders, sexual orientations, religions and socio-economic backgrounds. Disability Pride Month originated in the U.S. to commemorate the passing of the landmark Americans with Disabilities Act (ADA) in July 1990. The observance seeks to change the way people think about and define disability, to promote the idea that being disabled is a natural part of human diversity and raise awareness of the challenges that people with disabilities face every day.

Program funds can be used for a variety of purposes such as down payments or closing costs. Many of the programs can be combined with other homebuyer assistance programs, providing individuals with disabilities additional financial support and resources.

An analysis of the 18 programs showcases the range of assistance available to promote homeownership for people with disabilities:

* Financial assistance range: The programs offer homebuyer assistance ranging from $2,000 to $117,000.

* Availability: The programs are offered regionally in eight states and the District of Columbia. A financial assistance program is offered nationally by the Department of Veterans Affairs (VA).

* Accessibility modifications: Funding from two programs can be utilized to support accessibility modifications, ensuring homes are tailored to the unique needs of individuals with disabilities.

* Program types: By type, the homeownership assistance programs available are three affordable first mortgages, 12 second mortgage programs, two grant programs and one combined assistance program.

* Homebuyer status: Four assistance programs are open to repeat buyers and four first-time buyer programs offer an exemption for Veterans so they can apply regardless of previous homeownership.

"We believe all Americans should have access to safe, affordable housing and these targeted programs are making homeownership possible for disabled buyers who otherwise thought they couldn't afford to buy, or renovate, their home," said DPR Founder and CEO Rob Chrane. "These programs can help buyers qualify for a mortgage and make changes to the home, like installing handrails, a chair lift or ramps, to make it easier for them to live there."

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,300 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders and MLSs, three of the four largest real estate listing websites and 600,000 real estate agents. For more information, visit https://downpaymentresource.com/.

X/Twitter: @DwnPmtResource #downpaymentassistance #DisabilityPride

In celebration of Disability Pride Month in July, Down Payment Resource (DPR) is highlighting 18 U.S. homebuyer assistance programs that are specifically designed to support people with disabilities and their family caregivers on their journey toward homeownership. While people with disabilities may be eligible for any of the 2,300-plus U.S. homebuyer assistance programs in DPR's database, 18 are specifically developed to promote accessibility and inclusivity for aspiring homeowners with disabilities.

Related link: https://www.downpaymentresource.com/

Floify’s President and General Manager Sofia Rossato named to 2024 HousingWire Women of Influence and Inman Best in Finance lists

BOULDER, Colo. /ScoopCloud/ -- Floify, the mortgage industry's leading point-of-sale (POS) solution, today announced that Sofia Rossato, its president and general manager, has received two new honors, being named to HousingWire's Women of Influence and Inman's Best in Finance list. The Inman award is the second in a row for Rossato.

Rossato was tapped to lead Floify in Spring 2022, soon after the popular mortgage point-of-sale company's acquisition by Porch Group. Taking the helm of a fintech company during a historically brutal housing market, Rossato has proven her mettle as a leader by strengthening Floify's market footprint with customer empathy and business acumen.

Since taking over at Floify, Rossato has infused new life into the popular mortgage point-of-sale (POS), overseeing the rapid rollout of features that help its lenders and broker customers optimize operations and improve borrower service. Last fall, she greenlit a verification of income and employment waterfall workflow and oversaw the launch of Floify Broker Edition in December 2023, followed by Floify Lender Edition in March 2024.

Prior to Floify, Rossato was managing director and COO for the billion-dollar information division of $17B fintech, IHS Markit. She also was CEO of SnapEngage, an omni-channel messaging platform and early adopter of AI.

HousingWire's Women of Influence program was launched in 2010 to recognize women making notable contributions to both their businesses and the industry at large - with a specific focus on contributions during the most recent 12 months.

Inman's 2024 Best in Finance list, now in its second year, honors professionals hand-selected by Inman's editorial team for their role in shaping the mortgage and financial services industries through leadership and commitment to innovation.

"I am deeply honored by both of these awards and want to thank and recognize the small but mighty team we've assembled here at Floify for getting us here. These awards truly belong to all of us," says Rossato. "I'm proud of the products we've launched during the past 12 months and the business value they are providing to mortgage lenders and brokers at a time when we all need to contain costs and boost productivity. We are proud to be leading this charge for our customers."

The complete lists of HousingWire Women of Influence winners and Inman Best in Finance winners can be viewed on the publications' respective websites.

About Floify:

Floify is a digital mortgage automation solution that streamlines the loan process by providing a secure application, communication, and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders. Loan originators use the platform to collect and verify borrower documentation, track loan progress, communicate with borrowers and real estate agents, and close loans faster. The company is based in Boulder, Colorado and is a subsidiary of Porch Group, Inc. ("Porch Group") (NASDAQ: PRCH).

For more information, visit the company's website at https://floify.com/ or on social media at Facebook, LinkedIn, or Twitter / X.

Forward-Looking Statements:

Certain statements in this release may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Although the Company believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, assumptions, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Generally, statements that are not historical facts, including statements concerning the Company's possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "intends," or similar expressions.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Porch and its management at the time they are made, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) expansion plans and opportunities, and managing growth, to build a consumer brand; (2) the incidence, frequency, and severity of weather events, extensive wildfires, and other catastrophes; (3) economic conditions, especially those affecting the housing, insurance, and financial markets; (4) expectations regarding revenue, cost of revenue, operating expenses, and the ability to achieve and maintain future profitability; (5) existing and developing federal and state laws and regulations, including with respect to insurance, warranty, privacy, information security, data protection and taxation, and management's interpretation of and compliance with such laws and regulations; (6) the Company's reinsurance program, which includes the use of a captive reinsurer, the success of which is dependent on a number of factors outside management's control, along with reliance on reinsurance to protect us against loss; (7) uncertainties related to regulatory approval of insurance rates, policy forms, insurance products, license applications, acquisitions of businesses or strategic initiatives, including the reciprocal restructuring, and other matters within the purview of insurance regulators; (8) reliance on strategic, proprietary relationships to provide the Company with access to personal data and product information, and the ability to use such data and information to increase transaction volume and attract and retain customers; (9) the ability to develop new, or enhance existing, products, services, and features and bring them to market in a timely manner; (10) changes in capital requirements, and the ability to access capital when needed to provide statutory surplus; (11) the increased costs and initiatives required to address new legal and regulatory requirements arising from developments related to cybersecurity, privacy, and data governance and the increased costs and initiatives to protect against data breaches, cyber-attacks, virus or malware attacks, or other infiltrations or incidents affecting system integrity, availability and performance; (12) retaining and attracting skilled and experienced employees; (13) costs related to being a public company; and (14) other risks and uncertainties discussed in Part I, Item 1A, "Risk Factors," in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and in Part II, Item 1A, "Risk Factors," in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, as well as those discussed in subsequent reports filed with the Securities and Exchange Commission ("SEC"), all of which are available on the SEC's website at www.sec.gov.

Nothing in this release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this release. Porch does not undertake any duty to update these forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may be required by law.

Floify, the mortgage industry's leading point-of-sale (POS) solution, today announced that Sofia Rossato, its president and general manager, has received two new honors, being named to HousingWire's Women of Influence and Inman's Best in Finance list. The Inman award is the second in a row for Rossato.

Related link: https://floify.com/

Down Payment Resource expands team to keep pace with a rising number of DPA programs and increasing demand

ATLANTA, Ga. /ScoopCloud/ -- Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, today announced the addition of three new team members to support growing demand for down payment assistance (DPA) programs.

"We've been in this business since 2008 and have never seen more interest in - and frankly more need for - DPA from both homebuyers and lenders. In response, DPA administrators are growing the number of DPA programs available and expanding the inventory box with programs that support funding for purchases of manufactured homes and multi-family properties," said DPR Founder and CEO Rob Chrane.

"Accordingly, demand for DPR's lender suite, which supports DPA origination from lead generation to processing and underwriting to secondary sales, has grown. Combined with our recent integration with the ICE Encompass® loan origination system, DPR has a very bright future, and we're happy our team is growing to meet market needs."

DPR's three hires are:

:: Veronica Chapa, sales engineer

As sales engineer, Veronica Chapa will accelerate customer acquisition, revenue growth and market penetration at Down Payment Resource. Chapa has an extensive mortgage industry background, having served in various roles at mortgage lenders and mortgage technology companies, including Optimal Blue and Ellie Mae (now ICE Mortgage Technology).

:: Lorrie Johnson, customer success specialist

As a customer success specialist, Lorrie Johnson works on the frontlines with our lender and real estate clients to coordinate customer success initiatives including onboarding, adoption and retention efforts. Johnson has an extensive background in real estate, customer service and sales.

:: Lisa Rhodes, DPA program specialist

As a program specialist, Lisa Rhodes will support collecting, monitoring and managing detailed eligibility data and program requirements for more than 2,300 DPA programs from 1,200 providers. By maintaining regular contact with program providers, Rhodes will ensure the integrity of DPR's DPA Directory, the only tool to track every DPA program in the U.S. Before joining DPR, Rhodes served in various positions, including as HFA program administrator, for 17 years at U.S. Bank.

About Down Payment Resource:

Down Payment Resource (DPR) is the housing industry authority on homebuyer assistance program data and solutions. With a database that tracks more than 2,200 programs and toolsets for mortgage lenders, multiple listing services (MLSs) and API users, DPR helps housing professionals connect homebuyers with the assistance they need. DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders and MLSs, three of the four largest real estate listing websites and 600,000 real estate agents.

For more information, visit https://downpaymentresource.com/.

Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, today announced the addition of three new team members to support growing demand

Related link: https://www.downpaymentresource.com/

The Mortgage Collaborative Advocates for Lender Concerns at Federal Housing Agencies During June DC Visits

WASHINGTON, D.C. /ScoopCloud/ -- The Mortgage Collaborative (TMC) hosted its second Advocacy Committee trip to Washington, DC June 4-6, 2024, with 13 of its IMB and depository Lender Members meeting with key federal agencies, including the Consumer Financial Protection Bureau (CFPB), the U.S. Department of Housing and Urban Development (HUD), Ginnie Mae, Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac to discuss the impact of recent and upcoming policy changes on small to mid-size lenders.

Tom Sullivan, SVP, First Commonwealth Bank, speaking on the TMC webcast "Last Week in Mortgage Today," shared insights from his experience in DC: "Being a part of both trips has shown me that repeating similar efforts yields better results. My favorite part was hearing how different regions impact each other. The sincere conversations we had with each agency will influence the industry in a phenomenal way."

At TMC's meeting with the Consumer Financial Protection Bureau (CFPB), TMC Lender Members asked about "junk fees" in response to the recent CFPB shift in focus to monitoring third-party transaction fees including credit bureau fees and appraisals and increases in soft pulls. Loan officer compensation was also discussed with attending lenders requesting greater flexibility in compensation regulations to improve margins on affordable lending products and market competition. The CFPB signaled it is open to solutions, and TMC will draft a follow-up response with member input. TMC also shared concerns about rising credit verification costs and their impact on consumers, with the CFPB committing to further investigation.

At TMC's meeting with HUD, Lender Members talked about Federal Housing Administration (FHA) life of loan mortgage insurance premium (MIP), in follow-up to a recent TMC advocacy letter. Lenders expressed concerns over high APRs and the need for refinancing to remove MIP. HUD reiterated its stance on maintaining current policies but expressed its aims to reduce FHA loan costs. Lenders asked HUD if they were open to expanding FHA guidelines for 100% financing. HUD said they were open to exploring new programs, albeit requiring congressional approval.

TMC discussed repurchases with the FHFA, which promised to investigate the issue. FHFA announced they are creating an advocacy advisory committee in response to advocacy letters and visits like TMC's. FHFA gave feedback on the Bi-merge credit model ensuring lenders do not have to process loans differently for various agencies. FHFA reiterated that the move to bi-merge credit is optional. Homeowners/Flood Insurance costs were also discussed with FHFA pointing to its ongoing efforts to address affordability and replacement costs, particularly in high-cost areas.

During its meeting with Ginnie Mae, TMC Lender Members discussed the impact of rising insurance costs and consumer credit card debt on delinquencies. Ginnie Mae is monitoring the situation and collaborating with other agencies for solutions.

In TMC's respective meetings with Freddie Mac and Fannie Mae, those agencies committed to investigating the increase in appraisal-related repurchase requests and providing tools for appraisal certainty. Additionally, the discussions covered the rollout of the new credit model, with Freddie Mac confirming their preparedness for the transition to bi-merge credit and introduced the upcoming LPA Choice, which will offer clearer feedback on borrower assessments. They indicated that no major changes are anticipated in how their Automated Underwriting System (AUS) will assess credit during this transition. The TMC advocacy contingent also asked about second home pricing, to which Fannie Mae indicated, no new changes are expected for second home pricing variances.

About The Mortgage Collaborative:

The Mortgage Collaborative (TMC) is a membership-driven* organization dedicated to empowering mortgage lenders across the United States through networking, education, and advocacy. Our goal is to support the success of our members by fostering an environment of collaboration and innovation. For more information, visit https://www.mortgagecollaborative.com/

*TMC Lender Members, we want to hear from you! If you have seen an increase in repurchase requests, please send your data to Melissa Langdale so we can forward all feedback to our agency contacts. Your input is highly valued.

The Mortgage Collaborative (TMC) hosted its second Advocacy Committee trip to Washington, DC June 4-6, 2024, with 13 of its IMB and depository Lender Members meeting with key federal agencies, including the Consumer Financial Protection Bureau (CFPB), the U.S. Department of Housing and Urban Development (HUD), Ginnie Mae, Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac to discuss the impact of recent and upcoming policy changes on small to mid-size lenders.

Related link: https://www.mortgagecollaborative.com

MCT Integrates with Fannie Mae’s Mission Score API and New Product Grids to Empower Originators to Take Advantage of Market Incentives for Mission-oriented Lending

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced the launch of new integrations with Fannie Mae's Mission Score application programming interface (API) and Mission Score 2 and 3 product grids that provide better transparency and pricing for mortgages aligned with Fannie Mae's mission objectives.

The Mission Score API and product grids provide a loan-level Mission Score and associated pricing to mortgage originators, who may improve margins or pass through better borrower pricing using MCT technology. MCT, the first to integrate with the API, has a long history of empowering mortgage market participants to optimize their business, and these latest integrations increase the granularity of pricing that Fannie Mae provides sellers on MCT Marketplace - the largest mortgage asset exchange for the U.S. secondary market.

"Fannie Mae changed the market back in 2016 by bringing spec programs to the cash window, putting lenders in a position where they could take the pay-ups and push them through as more competitive pricing for the borrower," said Phil Rasori, COO of MCT. "Now, Fannie Mae has done it again by pushing forward the Mission Score pay-ups available on the securitization side toward front-end borrower pricing."

For mutual clients, pricing from the new API and product grids are integrated seamlessly into the best execution analysis, commitment, and delivery processes in MCT Marketplace. Lenders using the new MCT Base Rate Generator can leverage the Mission Score products to directly inform and generate their front-end borrower pricing.

"The Mission Score API and Mission Score product girds are Fannie Mae's latest solutions intended to support affordable homeownership opportunities and promote mission-based financing to qualified borrowers," said Pete Skarnulis, Single-Family Business Account Management Solutions - Vice President at Fannie Mae. "Through close partnership and collaboration with our industry partners, we're able to introduce innovative solutions to the market at scale, helping to promote positive change across the mortgage industry."

Lenders are encouraged to register for the upcoming industry webinar hosted by MCT, and featuring Fannie Mae, to learn more about the features and benefits of the Mission Score API and product grids for mortgage originators and their borrowers. Learn more: https://mct-trading.com/webinar/mct-fannie-mae-mission-score-webinar/.

About MCT:

For over two decades, MCT has been a leading source of innovation for the mortgage secondary market. Melding deep subject matter expertise with a passion for emerging technologies and clients, MCT is the de facto leader in innovative mortgage capital markets technology. From architecting modern best execution loan sales to launching the most successful and advanced marketplace for mortgage-related assets, lenders, investors, and network partners all benefit from MCT's stewardship. MCT's technology and know-how continues to revolutionize how mortgage assets are priced, locked, protected, valued, and exchanged - offering clients the tools to perform under any market condition.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced the launch of new integrations with Fannie Mae's Mission Score application programming interface (API) and Mission Score 2 and 3 product grids that provide better transparency and pricing for mortgages aligned with Fannie Mae's mission objectives.

Related link: https://mct-trading.com/

Optimal Blue Launches Competitive Data License to Help Lenders Optimize Margins With Competitive Loan Pricing Data

PLANO, Texas /ScoopCloud/ -- Optimal Blue announced the release of Competitive Data License, a collection of key national mortgage pricing data that enables lenders to price products competitively, operate more profitably, and react swiftly to changing market conditions.

Competitive Data License draws upon direct-source loan data from the Optimal Blue PPE, which is used to price and lock over 35% of loans in the United States. The data solution provides lenders with extensive insight into markups, loan-level price adjustments (LLPAs), servicing-released premiums (SRP), concessions, loan officer compensation, base price, and PAR rate. The offering's data set allows for granular benchmarking at various levels - from organization-wide to individual loan officers - enabling lenders to identify areas for improvement, replicate successful strategies, and maintain a competitive edge.

"We often hear from our lenders how difficult it is to make informed pricing decisions given the lack of visibility into detailed market data," said Brennan O'Connell, director of data solutions at Optimal Blue. "Competitive Data License ensures that our PPE customers have full transparency into the granular pricing components needed for a full price trace from buy-side to sell-side - giving Optimal Blue clients a strategic advantage in benchmarking their entire pricing strategy."

Competitive Data License highlights which locks were completed by the lender using the data set, while also offering additional details, such as which loan officer locked the loan. Lenders have the flexibility to feed the raw data from Competitive Data License into their own business intelligence platforms to assess their performance relative to competitors and adjust pricing strategies - such as repricing or hedging optimization - based on market shifts.

Competitive Data License is available exclusively to Optimal Blue PPE users, and those currently using Market Data License for competitive analytics will be upgraded automatically to the more robust Competitive Data License data set. Market Data License will remain available to lenders not using the Optimal Blue PPE.

Optimal Blue will be hosting a webinar on July 10 for those interested in learning more about Competitive Data License.

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes operate profitably and efficiently so they can fulfill the momentous role of helping American borrowers achieve the dream of homeownership, regardless of market dynamics. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between.

To learn more, visit https://www2.optimalblue.com/.

Optimal Blue announced the release of Competitive Data License, a collection of key national mortgage pricing data that enables lenders to price products competitively, operate more profitably, and react swiftly to changing market conditions. Competitive Data License draws upon direct-source loan data from the Optimal Blue PPE, which is used to price and lock over 35% of loans in the United States.

Related link: https://www2.optimalblue.com/

Dark Matter Technologies’ Richard Gagliano honored with the 2024 Inman Best of Finance award

JACKSONVILLE, Fla. /ScoopCloud/ -- Dark Matter Technologies (Dark Matter), an innovative leader in mortgage technology backed by time-tested loan origination software and leadership, today announced that Inman has recognized its CEO Richard Gagliano with the 2024 Best of Finance award. Now in its second year, the award celebrates 150 innovative professionals demonstrating exceptional leadership and impact in the real estate, mortgage and finance sectors. Honorees are hand-selected by Inman's editorial team.

Gagliano was recognized for establishing Dark Matter as an independent company in September 2023. Gagliano had served as president of the company's predecessor, Black Knight Origination Technologies, a division of Black Knight, Inc., where he considerably grew the functionality and market share of its flagship product, the Empower® Loan Origination System (LOS). Notably, Gagliano's foresight into the impact of artificial intelligence and machine learning technologies guided the firm to begin developing AIVA® solutions that support lender productivity in 2018. Today, dozens of mortgage lenders rely on the AIVA solutions to automate stare and compare tasks.

"Mortgage lending is a complex process subject to intense regulatory requirements and ever-changing economic factors," said Gagliano. "The Dark Matter team strives to deliver the innovative technology lenders need to remain agile and provide outstanding experiences to their borrowers, and I am honored to lead them towards this goal."

"This year, Inman continues to highlight the extraordinary achievements of professionals who are setting new standards in the mortgage and financial services sectors of the real estate industry," said Emily Paquette, Inman CEO. "Their relentless pursuit of excellence and dedication to improving community services is what truly sets them apart."

The complete list of Inman Best of Finance honorees can be viewed at https://www.inman.com/best-of-finance-awards/.

About Dark Matter Technologies:

Operating with the nimble nature of a startup and the disciplined maturity of one of the industry's leading providers, Dark Matter Technologies delivers cutting-edge technology, unparalleled automation and relentless innovation to leading mortgage lenders and companies nationwide. For more information, visit https://www.dmatter.com.

Dark Matter Technologies (Dark Matter), an innovative leader in mortgage technology backed by time-tested loan origination software and leadership, today announced that Inman has recognized its CEO Richard Gagliano with the 2024 Best of Finance award. Now in its second year, the award celebrates 150 innovative professionals demonstrating exceptional leadership and impact in the real estate, mortgage and finance sectors. Honorees are hand-selected by Inman's editorial team.

Related link: https://www.dmatter.com

Floify brings its industry-leading point-of-sale technology to The Mortgage Collaborative as a preferred partner

BOULDER, Colo. /ScoopCloud/ -- Floify, the mortgage industry's leading point-of-sale (POS) solution, today announced that it has joined The Mortgage Collaborative (TMC), the nation's largest independent cooperative network serving the mortgage industry. As a member of TMC's Preferred Partner Network, Floify will provide its intuitive lending platform for mortgage lenders at a discounted rate to TMC members.

"Floify is designed to address the challenges faced by our lender members, such as supporting best-in-class borrower experience, while maintaining efficient production and controlling costs," said TMC President and CEO Melissa Langdale. "We are excited for them to join the TMC Preferred Partner Network and strengthen our community."

Floify Lender Edition provides borrowers with an easy-to-navigate portal where they can apply for and monitor the status of their mortgage loans. An intuitive lender interface helps loan teams reduce costs and operate more effectively with features such as automated workflows, free native eSign, and mortgage disclosure support. Additionally, Floify supports native integrations with dozens of other mortgage technology companies, including several of TMC's preferred partners.

Founded in 2013, TMC empowers mortgage lenders across the country with networking and professional development opportunities, and by sharing best practices and technologies that drive market growth, efficiency and profitability.

"In this highly competitive and high interest rate environment, mortgage lenders need to compete more effectively and provide borrowers with a great digital experience from the time they fill out an application through the close. Out of the box, Floify is easy to customize, and our many integrations save lenders time and money in processing applications and completing documentation requirements," said Floify President and General Manager Sofia Rossato. "While many TMC members already use Floify, we're looking forward to making it available at a special rate to others ready to provide their homebuyers with a seamless, modern mortgage experience."

About Floify

Floify is a digital mortgage automation solution that streamlines the loan process by providing a secure application, communication, and document portal between lenders, borrowers, referral partners, and other mortgage stakeholders. Loan originators use the platform to collect and verify borrower documentation, track loan progress, communicate with borrowers and real estate agents, and close loans faster. The company is based in Boulder, Colorado and is a subsidiary of Porch Group, Inc. ("Porch Group") (NASDAQ: PRCH). For more information, visit the company's website at https://floify.com/ or on social media at Facebook, LinkedIn, or Twitter / X.

About The Mortgage Collaborative

The Mortgage Collaborative was founded in 2013 by four notable industry leaders and is the nation's largest independent mortgage cooperative network. TMC is singularly focused on creating an environment of collaboration and innovation for small to midsize mortgage lenders across the country to reduce cost, increase profitability, and better serve the dynamic and changing consumer base in America. For more information, visit https://www.mortgagecollaborative.com.

Forward-Looking Statements

Certain statements in this release may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Although the Company believes that its plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, the Company cannot assure you that it will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, assumptions, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Generally, statements that are not historical facts, including statements concerning the Company's possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "intends," or similar expressions.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Porch and its management at the time they are made, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) expansion plans and opportunities, and managing growth, to build a consumer brand; (2) the incidence, frequency, and severity of weather events, extensive wildfires, and other catastrophes; (3) economic conditions, especially those affecting the housing, insurance, and financial markets; (4) expectations regarding revenue, cost of revenue, operating expenses, and the ability to achieve and maintain future profitability; (5) existing and developing federal and state laws and regulations, including with respect to insurance, warranty, privacy, information security, data protection and taxation, and management's interpretation of and compliance with such laws and regulations; (6) the Company's reinsurance program, which includes the use of a captive reinsurer, the success of which is dependent on a number of factors outside management's control, along with reliance on reinsurance to protect us against loss; (7) uncertainties related to regulatory approval of insurance rates, policy forms, insurance products, license applications, acquisitions of businesses or strategic initiatives, including the reciprocal restructuring, and other matters within the purview of insurance regulators; (8) reliance on strategic, proprietary relationships to provide the Company with access to personal data and product information, and the ability to use such data and information to increase transaction volume and attract and retain customers; (9) the ability to develop new, or enhance existing, products, services, and features and bring them to market in a timely manner; (10) changes in capital requirements, and the ability to access capital when needed to provide statutory surplus; (11) the increased costs and initiatives required to address new legal and regulatory requirements arising from developments related to cybersecurity, privacy, and data governance and the increased costs and initiatives to protect against data breaches, cyber-attacks, virus or malware attacks, or other infiltrations or incidents affecting system integrity, availability and performance; (12) retaining and attracting skilled and experienced employees; (13) costs related to being a public company; and (14) other risks and uncertainties discussed in Part I, Item 1A, "Risk Factors," in the Company's Annual Report on Form 10-K for the year ended December 31, 2022, and in Part II, Item 1A, "Risk Factors," in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, as well as those discussed in subsequent reports filed with the Securities and Exchange Commission ("SEC"), all of which are available on the SEC's website at www.sec.gov.

Nothing in this release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this release. Porch does not undertake any duty to update these forward-looking statements, whether as a result of changed circumstances, new information, future events or otherwise, except as may be required by law.

Floify, the mortgage industry's leading point-of-sale (POS) solution, today announced that it has joined The Mortgage Collaborative (TMC), the nation's largest independent cooperative network serving the mortgage industry. As a member of TMC's Preferred Partner Network, Floify will provide its intuitive lending platform for mortgage lenders at a discounted rate to TMC members.

Related link: https://floify.com/

Critical Defect Rate Declines Five Straight Quarters, Ending 2023 at 1.53%, Per ACES Mortgage QC Industry Trends Report

DENVER, Colo. /ScoopCloud/ -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the fourth quarter (Q4) and calendar year (CY) of 2023. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.

Notable findings from the Q4 2023 report include the following:

* The overall critical defect rate declined 8.38%, ending the quarter at 1.53%.

* The overall rate for CY 2023 was 1.68%, down 19.18% from CY 2022.

* Of the four major underwriting categories, Credit and Liabilities improved in Q4 2023, while defects increased for Assets and Income/Employment. However, only one category - Credit - improved overall for CY 2023.

* Income/Employment remains the leading category of defects reported in Q4 2023, with Assets and Borrower and Mortgage Eligibility completing the top three categories of defects cited.

* Income/Employment and Assets were also the top two most cited defect categories for CY 2023, with Loan Documentation in third place.

* The sub-category analysis for both Q4 2023 and CY 2023 showed a tremendous increase in Calculation/Analysis-related errors for the Assets category. Eligibility-related defects also increased in the Credit and Income/Employment categories in Q4, while CY 2023 saw moderate increases in Credit Documentation, Income/Employment Analysis and Eligibility.

* Purchase review share decreased by 1.34% over Q3, while refinance review share increased by 8.79%. Defect-wise, purchase share increased by 6.28%, and refinance share decreased by 36.2%.

* VA review share increased the most in 2023, rising 19.44%, followed by a 4.46% increase in FHA review share. USDA review share declined by 15.63%, as did conventional by 4.22%.

* While FHA defect share increased by 1.85% quarter-over-quarter, USDA and VA loans experienced the most increases in Q4, rising 8.62% and 8.48%. While USDA review share also increased in Q4, VA review share remained relatively flat.

* For CY 2023, conventional and FHA defect share increased 5.83% and 11.6%, respectively. Defect share decreased by 68.15% for USDA loans and 26.61% for VA loans.

"Building on the gains made in late 2022, mortgage lenders improved loan quality in both Q4 2023 and for the year overall," said ACES Executive Vice President Nick Volpe. "However, persistent adversity in the form of interest rates and affordability challenges only emphasizes the need for lenders to remain vigilant and protect the integrity of existing loan production."

Findings for the Q4/CY 2023 ACES Mortgage QC Industry Trends Report are based on post-closing quality control data derived from the ACES Quality Management and Control® benchmarking system and incorporate data from prior quarters and/or calendar years, where applicable. All reviews and defect data evaluated for the report were based on loan audits selected by lenders for full file reviews.

"The overall critical defect rate for Q4 2023 dropped to 1.53%, among the lowest rates observed since this report's inception. Given five straight quarters of decline, it's evident lenders are prioritizing loan quality in the current market to preserve as much revenue as possible," said Trevor Gauthier, CEO of ACES Quality Management. "The market downturn led to operational staff cuts for many lenders, and those reductions certainly impacted QC departments. Lenders' ability to consistently drive down their critical defects in that environment speaks to the power of ACES to help lenders manage loan quality and mitigate risk in any environment."

The Mortgage QC Industry Trends Reports are available for download, free of charge, at https://www.acesquality.com/resources/reports.

Join ACES EVP, Nick Volpe and ACES President, Phill McCall on July 17th for their QC NOW webinar as they take a deeper dive into these analytics and how it aligns with the current state of the industry and how to best navigate through the volatile financial landscape. Register here for the webinar.

About ACES Quality Management

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 3 of the top 5 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology®, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the fourth quarter (Q4) and calendar year (CY) of 2023. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.

Related link: https://www.acesquality.com/

Argyle’s Shmulik Fishman named an Inman Best of Finance award honoree

NEW YORK CITY, N.Y. /ScoopCloud/ -- Shmulik Fishman, CEO of Argyle, a platform providing real-time income and employment verifications for some of the largest lenders in the United States, has been named to Inman's 2024 Best in Finance list. Now in its second year, the award honors professionals hand-selected by Inman's editorial team for their role in shaping the mortgage and financial services industries through leadership and commitment to innovation.

* Argyle Founder Recognized: Shmulik Fishman, Argyle founder and CEO, was named to Inman's 2024 Best in Finance list for modernizing the way lenders verify income and employment for loans.

* Leader in Industry Innovation: Inman's annual Best in Finance award celebrates the achievements of the best and brightest in the mortgage and financial services industries.

* Impartial Selection: Argyle was selected for this honor by Inman's editorial staff.

Inman, a leading independent news publisher for the residential real estate industry, recognized Fishman for revolutionizing the way lenders verify income and employment with reliable, fast, and affordable connections to consumer-permissioned payroll data. Since the beginning of 2023, Argyle has welcomed upwards of 100 mortgage lenders who have seen time savings of 5-7 days per loan and cost savings of 60-80% since switching to Argyle for verification of income and employment (VOIE).

"I'm proud of the results Argyle has achieved and the business value they represent for our customers - but even more than metrics, we're interested in driving long-term change," said Fishman. "We've built a remarkable mortgage team that truly grasps the problems lenders face and has the talent and motivation to tackle those challenges. Leading this effort is an honor."

"This year, Inman continues to highlight the extraordinary achievements of professionals who are setting new standards in the mortgage and financial services sectors of the real estate industry," said Emily Paquette, Inman CEO. "Their relentless pursuit of excellence and dedication to improving community services is what truly sets them apart."

Inman Awards announced its Best of Finance honorees on Monday. Read the complete list of winners here: https://www.inman.com/best-of-finance-awards/.

About Argyle:

Founded in 2018, Argyle is backed by top investors, including Bain Capital Ventures, SignalFire, Checkr, and Rockefeller Asset Management. Argyle is the leading provider of consumer-permissioned access to real-time income and employment data. With Argyle, companies automate critical workflows-including income and employment verifications, deposit switches, wage advances and loan repayments-so they can build better, more efficient processes, reduce risk and scale their business. Argyle largely serves the mortgage, background check, personal lending and banking industries as well as the gig economy.

For more information on Argyle's industry-leading platform, please visit https://argyle.com/.

To stay up to date on all Argyle news, sign up for our newsletter here: https://argyle.com/blog/.

Tags: @withArgyle @Inman #fintech #financialservices #innovation #mortgage #mortgagelending #verification

Brand Assets: https://brand.argyle.com/downloads#logo

Shmulik Fishman, CEO of Argyle, a platform providing real-time income and employment verifications for some of the largest lenders in the United States, has been named to Inman's 2024 Best in Finance list. Now in its second year, the award honors professionals hand-selected by Inman's editorial team for their role in shaping the mortgage and financial services industries through leadership and commitment to innovation.

Related link: https://www.argyle.com/

Secured Signing Scales Up with Strategic Leadership and Global Expansion

MOUNTAIN VIEW, Calif. /ScoopCloud/ -- Secured Signing, a leading provider of secure Digital Signatures and Remote Online Notarization platform, today announced a significant growth, fueled by a visionary leadership change and strategic team expansion.

Mike Eyal Takes the Helm as CEO

Secured Signing is excited to announce the appointment of Mike Eyal as its new CEO. As the founder of Secured Signing, Mike brings a wealth of experience and a deep passion for innovation to his new role. His dedication to fostering a culture of growth not only benefits the company but also empowers its talented team, ensuring that everyone thrives as the company continues to succeed.

Global Sales Team Bolstered by New Talent

To meet the demands of its expanding customer base, Secured Signing has strategically expanded its global sales team with the appointment of two industry experts:

Shane Palladino joins the US team:

Shane has a remarkable track record in the SaaS industry, Shane brings a wealth of experience in launching innovative solutions, surpassing revenue targets, and fostering strong client relationships.

Key Highlights:

Industry Expertise: Shane has spent several years in the notary industry, cultivating valuable connections with legal and title companies.

Sales Mastery: Trained and certified in the Sandler sales methodology, Shane is an adept communicator and skilled negotiator. His ability to generate multi-million-dollar sales revenue is well-documented.

Relationship Builder: Shane excels at forging productive partnerships with key clients, partners, and industry leaders. His collaborative approach aligns perfectly with our organizational goals.

We are confident that Shane's expertise will significantly enhance Secured Signing.

Peter Nicolaou joins the Australian team:

Peter has a wealth of experience in IT SaaS sales engineering, Peter brings a deep understanding of industry challenges, complemented by several decades of successful sales endeavors.

Key Highlights:

Sales Leadership: Throughout his career, Peter has consistently driven sales execution, guiding teams to achieve short-term objectives while keeping long-term visions in sight. His ability to surpass expectations is a testament to his expertise.

Industry Insights: Peter's extensive background spans the government, software, and IT sectors. His insights into these domains will be invaluable as we navigate the Australian market.

Collaborative Approach: By fostering a results-driven team environment, Peter enhances overall performance and effectiveness. His communication skills across all levels and knack for building successful teams will play a pivotal role in Secured Signing's continued growth.

A Bright Future for Secured Signing

"We are thrilled to welcome Shane and Peter to the Secured Signing family," said Mike Eyal, CEO of Secured Signing. "Their combined expertise and industry knowledge will be instrumental in propelling our growth and helping us deliver even greater value to our customers."

Secured Signing is excited about the future and its commitment to empowering businesses with secure and efficient document management solutions. The company invites everyone to join the secure document revolution and discover how Secured Signing can transform their business operations.

About Secured Signing

Secured Signing is a leading provider of secure digital signing and remote online notarization solutions. The company's cloud-based platform enables businesses of all sizes to securely sign and manage documents, streamline workflows, and improve efficiency. Secured Signing is committed to providing its customers with the highest levels of security, compliance, and ease of use. Learn more: https://www.securedsigning.com/

Secured Signing, a leading provider of secure Digital Signatures and Remote Online Notarization platform, today announced a significant growth, fueled by a visionary leadership change and strategic team expansion.

Related link: https://www.securedsigning.com/

Dovenmuehle’s Above Average Residential Mortgage Loan Primary Servicer Ranking Affirmed by S&P Global Rankings

LAKE ZURICH, Ill. /ScoopCloud/ -- Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that Standard & Poor's Global Ratings (S&P) has affirmed its Above Average ranking of Dovenmuehle as a residential mortgage loan primary servicer with a stable outlook. For 13 consecutive years, Dovenmuehle has consistently received an Above Average ranking from S&P.

In its review, S&P emphasized Dovenmuehle's seasoned and tenured senior management team, well-diversified client base and comprehensive training programs, with a solid focus on technology to support remote learning and operations. The review also highlighted Dovenmuehle's satisfactory information technology infrastructure, cybersecurity controls and sound internal control environment, which includes multiple lines of defense and predominantly satisfactory audit ratings.

"At Dovenmuehle, we understand the critical importance of managing lenders' servicing assets," said Dovenmuehle Senior Vice President of Business Development Anna Krogh. "Our consistent high rating from S&P reflects our sustained commitment to delivering mortgage subservicing offerings that meet the highest standards of security and dependability."

S&P previously reviewed Dovenmuehle in 2023, awarding it an Above Average ranking. Since then, the S&P team has observed the following significant changes and advancements during their latest assessment:

* Enhanced its website and mobile application to include self-service functionality for payment misapplication corrections and viewing loss draft claim status.

* Hired external candidates to fill the roles of cybersecurity information security officer and chief information officer.

* Replaced the senior vice president of the default management functions with an external candidate previously employed by DMI who has extensive default operations industry experience.

* Implemented an enhanced default attorney scorecard with new compliance-based metrics for foreclosure and bankruptcy.

* Transitioned the handling of borrower hazard insurance calls to its vendor.

* Established a specific customer service team to handle newly boarded clients and their data issues.

* Created a singular system view to enhance customer service agents' efficiency while handling borrower calls, consolidating common agent searches and tasks.

Looking ahead, Dovenmuehle continues to improve the sophistication of its technology and systems to automate many of its manual processes, supporting staff and portfolio growth. In its findings, S&P stated it believes Dovenmuehle will remain a capable and effective subservicer of prime mortgage loans.

About Dovenmuehle:

Founded in 1844, Dovenmuehle (Lake Zurich, Ill.) is a mortgage subservicer for commercial banks, credit unions, independent mortgage lenders, MSR investors and state housing finance agencies nationwide. The company subservices portfolio loans and loans sold to Fannie Mae, Freddie Mac, Ginnie Mae and the Federal Home Loan Bank with servicing retained. Using a combination of best-in-class and proprietary technology, Dovenmuehle helps lenders reduce servicing costs and deliver consistently high levels of service to homeowners while maintaining compliance with investor and regulatory requirements. Learn more at https://dovenmuehle.com.

Dovenmuehle Mortgage, Inc. (Dovenmuehle), a leading mortgage subservicing company, announced today that Standard & Poor's Global Ratings (S&P) has affirmed its Above Average ranking of Dovenmuehle as a residential mortgage loan primary servicer with a stable outlook. For 13 consecutive years, Dovenmuehle has consistently received an Above Average ranking from S&P.

Related link: https://dovenmuehle.com/

MCT and Lender Price Join Forces to Improve Mortgage Pricing with Loan-Level MSR Values

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading (MCT®), the de facto leader in innovative mortgage capital markets technology, and Lender Price, the first cloud-native provider of mortgage pricing technology, have partnered to provide mortgage lenders using the Lender Price product and pricing engine (PPE) with loan-level MCT MSR values. MCT's industry-leading mortgage servicing rights (MSR) grids allow Lender Price PPE clients to be more granular, profitable, and efficient when generating their front-end borrower pricing and managing their MSR portfolio.

"Our collaboration with MCT marks a significant milestone in our mission to provide lenders with innovative tools to streamline their operations and maximize profitability," said Dawar Alimi, CEO and Co-Founder of Lender Price. "Integrating MCT's MSR valuation grids into our PPE allows our clients to manage their pricing more effectively and stay ahead of market conditions. Together with MCT, we're committed to delivering exceptional value to our clients and continuously driving innovation in mortgage capital markets technology."

Alongside the mortgage, valuing MSRs is the next largest component of generating front-end borrower pricing. This first-of-its-kind integration puts live, loan-level MSR values in the hands of capital markets professionals when they need it most, during the daily process of pricing loans using their PPE. Mortgage lenders will save time and money through faster and more strategic best execution decisions, dynamic margin management, and stronger pricing analytics, all in one enterprise pricing engine.

"Lender Price has shown a commitment to providing the top-performing pricing experience for mortgage lenders by integrating the industry's most granular MSR values," said Curtis Richins, president and CEO of MCT. "We're proud that Dawar and his team selected MCT for this groundbreaking partnership."

Mortgage lenders can expect exciting future developments from this new partnership. Interested organizations can reach out to MCT or Lender Price for more detail about leveraging loan-level MSR values to create stronger mortgage pricing.

About MCT:

For over two decades, MCT has been a leading source of innovation for the mortgage secondary market. Melding deep subject matter expertise with a passion for emerging technologies and clients, MCT is the de facto leader in innovative mortgage capital markets technology. From architecting modern best execution loan sales to launching the most successful and advanced marketplace for mortgage-related assets, lenders, investors, and network partners all benefit from MCT's stewardship. MCT's technology and know-how continue to revolutionize how mortgage assets are priced, locked, hedged, traded, and valued - offering clients the tools to perform under any market condition.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

About Lender Price:

Lender Price delivers superior cloud-native pricing technology to top banks, lenders, credit unions, and mortgage brokers. Built on a modern technology stack, our solutions are user-friendly, configurable, and easier to integrate, resulting in improved workflow and pricing efficiencies. Lender Price's advanced technology, combined with its deep understanding of the lending landscape, sets it apart from the competition. By leveraging artificial intelligence, machine learning, and data-driven insights, Lender Price equips lenders with the knowledge and resources to make informed decisions and drive growth. Recognized by top industry publications, our award-winning pricing, product and eligibility (PPE) platform continues to lead the industry in advancing capital markets and mortgage pricing technology. Visit us at https://lenderprice.com/ for more information.

Mortgage Capital Trading (MCT®), the de facto leader in innovative mortgage capital markets technology, and Lender Price, the first cloud-native provider of mortgage pricing technology, have partnered to provide mortgage lenders using the Lender Price product and pricing engine (PPE) with loan-level MCT MSR values. MCT's industry-leading mortgage servicing rights (MSR) grids allow Lender Price PPE clients to be more granular, profitable, and efficient when generating their front-end borrower pricing and managing their MSR portfolio.

Related link: https://mct-trading.com/

Mortgage Interest Rate Sensitivity Triggers 25% Spike in May Rate-and-Term Refinance Activity

PLANO, Texas /ScoopCloud/ -- Optimal Blue today released its May 2024 Market Advantage mortgage data report, which revealed a 25.6% month-over-month (MoM) spike in rate-and-term mortgage refinances. The spike was a response to a modest drop in the Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate, which ended the month at 7.02%.

"The sharp increase in demand for rate-and-term refinances following a dip in rates indicates that homeowners with rates above 7% feel pinched and are sensitive to even modest interest rate movements in the current economic landscape," said Brennan O'Connell, director of data solutions at Optimal Blue. "For context, since Optimal Blue began tracking the 30-year conforming rate as a market index in January 2017, interest rates only exceeded 7.02% on 120 market days. Based on other measures, buyers who locked loans on those days have the highest mortgage rates of the past two decades."

Key findings from the May 2024 Market Advantage report, which are drawn from direct-source mortgage lock data, include:

* Shallow dip in interest rates: The benchmark OBMMI 30-year conforming rate bottomed out on May 15 at 6.875% before ending the month at 7.02%, 22 bps lower than at the close of April. This reprieve in mortgage rates prompted a 25.6% MoM increase in rate-and-term refinance volume.

* Overall volume increase: Total volume rose by 5.3% MoM and 1.8% year-over-year (YoY), driven by a 4.1% increase in MoM purchase lock volume, a 7.2% rise in cash-out refinances, and a substantial 25.6% increase in rate-and-term refinances.

* YoY decline in purchase lock counts: Purchase lock counts, a key market health indicator that controls for home price appreciation and refinance volatility, were down 4% YoY. Despite the decline, May YoY purchase lock counts were stronger than the 7% YoY decline recorded in February, the last month unimpacted by the timing of the Easter holiday.

* Coastal market growth: Major coastal cities saw the highest MoM volume increases, with East Coast cities New York, Boston, and Jacksonville and West Coast cities Riverside-San Bernardino, San Diego, Sacramento, and Portland each seeing volume gains of 13% or greater.

* Stable, high credit quality: Average credit scores remained high, with the purchase borrower score averaging 738.

* Stable loan amounts, rising home prices: MoM, the average loan amount remained flat at $374.5K. MoM, the average home purchase price rose for the fifth consecutive month this year, up $2.4K from $477.9K to $480.3K.

The full May 2024 Market Advantage report provides further detail on these findings and more insights into U.S. mortgage market trends.

View report: https://www2.optimalblue.com/wp-content/uploads/2024/06/OB_MarketAdvantage_May2024_Report.pdf

About the Market Advantage Report:

Formerly known as the Originations Market Monitor, Optimal Blue issues the Market Advantage mortgage data report each month to provide early insight into U.S. mortgage trends. Leveraging lender rate lock data from the Optimal Blue PPE - the mortgage industry's most widely used product, pricing, and eligibility engine - the Market Advantage provides a view of early-stage origination activity. Unlike self-reported survey data, mortgage lock data is direct-source data that accurately reflects the in-process loans in lenders' pipelines.

Nothing herein shall be construed as, nor is Optimal Blue providing, any legal, trading, hedging, or financial advice.

About Optimal Blue:

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes operate profitably and efficiently so they can fulfill the momentous role of helping American borrowers achieve the dream of homeownership, regardless of market dynamics. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between. To learn more, visit https://OptimalBlue.com/.

Optimal Blue today released its May 2024 Market Advantage mortgage data report, which revealed a 25.6% month-over-month (MoM) spike in rate-and-term mortgage refinances. The spike was a response to a modest drop in the Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming rate, which ended the month at 7.02%.

Related link: https://www2.optimalblue.com/

MCT Reports A 7% Mortgage Lock Volume Increase In Latest Indices Report

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced today an increase of 6.78% in mortgage lock volume compared to the previous month. To gain comprehensive insights into the market dynamics, industry professionals and enthusiasts are invited to download the complete report.

As mortgage lock volume edges upward during the buying season, the mortgage industry continues to monitor economic indicators that will factor into the Federal Reserve's decision on how long to hold rates.

Early May economic indicators present a mixed bag, which could give the Federal Reserve reason to hold rates longer. While April's Consumer Price Index (CPI) aligned with predictions, the May Nonfarm Payroll report far exceeded forecasts with an additional 272,000 jobs.

The combination of the May Nonfarm Payroll and upcoming CPI report could suggest that the Federal Reserve will hold rates longer as they seek more consistent economic indicators pointing toward their goal of two percent inflation.

Andrew Rhodes, Senior Director and Head of Trading at MCT, stated, "The next couple of months will be key from a data standpoint as the Federal Reserve looks for a trend of inflation heading towards the goal of two percent. Considering the Nonfarm Payroll number that just came out, setting a trend is going to take more time. We're looking ahead to the May CPI print to see how the Fed is going to interpret both data points. Even with CPI coming in around expectation, the jobs number could likely push the FED to further delay their rate cuts."

To access the comprehensive insights provided by MCT's Lock Volume Indices, interested parties are encouraged to download the full report: https://mct-trading.com/press-release/mct-reports-a-7-percent-lock-volume-increase-in-latest-indices-report/.

MCT's Lock Volume Indices present a snapshot of rate lock volume activity in the residential mortgage industry broken out by lock type (purchase, rate/term refinance, and cash out refinance) across a broad diversity of lenders (e.g., sizes, products/services offered, business models) from MCT's national footprint.

About MCT:

For over two decades, MCT has been a leading source of innovation for the mortgage secondary market. Melding deep subject matter expertise with a passion for emerging technologies and clients, MCT is the de facto leader in innovative mortgage capital markets technology. From architecting modern best execution loan sales to launching the most successful and advanced marketplace for mortgage-related assets, lenders, investors, and network partners all benefit from MCT's stewardship. MCT's technology and know-how continue to revolutionize how mortgage assets are priced, locked, hedged, traded, and valued - offering clients the tools to perform under any market condition.

For more information, visit https://mct-trading.com/ or call (619) 543-5111.

MULTIMEDIA:

Image link for media: https://mct-trading.com/wp-content/uploads/2024/06/mct-lock-volume-indices-20.png

Image Caption: Lock Volume for May by Transaction Type

Mortgage Capital Trading, Inc. (MCT®), the de facto leader in innovative mortgage capital markets technology, announced today an increase of 6.78% in mortgage lock volume compared to the previous month. To gain comprehensive insights into the market dynamics, industry professionals and enthusiasts are invited to download the complete report.

Related link: https://mct-trading.com/

Optimal Blue Names Joe Tyrrell Chief Executive Officer

PLANO, Texas /ScoopCloud/ -- Optimal Blue today announced the appointment of Joe Tyrrell as CEO. Tyrrell succeeds interim CEO Scott Smith of Optimal Blue's parent company, Constellation Software Inc.

Tyrrell brings over 25 years of experience in the mortgage, finance, and technology industries to Optimal Blue. This includes serving as president of ICE Mortgage Technology, as well as in various leadership roles at Ellie Mae, including chief operating officer, prior to its acquisition in 2020. Most recently, Tyrrell served as the CEO of Medallia, a customer and employee experience company.

"I have always been attracted to companies that make their clients' success their top priority, and that is especially true with Optimal Blue, the clear market leader in secondary marketing technology," said Tyrrell. "For the past year and a half, I have been delivering innovation and real generative AI capabilities to the largest and most trusted consumer, health care, hospitality, financial services, and technology brands in the world, and I am excited to now bring those capabilities to Optimal Blue's lenders and partners in an industry that I love."

Smith will continue his role within Constellation Software, where he serves as president of Andromeda, the portfolio in which Optimal Blue operates. In addition to overseeing the CEO transition, Smith will continue supporting the success of the Optimal Blue business through his position.

"It was a priority to identify the right leader to support our investment in Optimal Blue and the long-term success of the business," said Smith. "We've found that and more with Joe Tyrrell, who is passionate about client relationships and innovation - two tenets that have been core to Optimal Blue's culture throughout its decades as a market leader. Joe's extensive experience in this industry affords him a fundamental understanding of the needs and challenges lenders face and ways innovative technology and real-time data can solve them. Along with the other leaders within the Andromeda portfolio of Constellation Software, I look forward to continuing to support the success of Optimal Blue under Joe's leadership."

About Optimal Blue

Optimal Blue effectively bridges the primary and secondary mortgage markets to deliver the industry's only end-to-end capital markets platform. The company helps lenders of all sizes and scopes operate profitably and efficiently so they can fulfill the momentous role of helping American borrowers achieve the dream of homeownership, regardless of market dynamics. Through innovative technology, a network of interconnectivity, rich data insights, and expertise gathered over more than 20 years, Optimal Blue is an experienced partner that allows lenders to optimize their advantage from pricing accuracy to margin protection, and every step in between.

To learn more, visit http://OptimalBlue.com/.

Optimal Blue today announced the appointment of Joe Tyrrell as CEO. Tyrrell succeeds interim CEO Scott Smith of Optimal Blue's parent company, Constellation Software Inc. Tyrrell brings over 25 years of experience in the mortgage, finance, and technology industries to Optimal Blue.

Related link: https://www2.optimalblue.com/

CapitalW Collective: Educating, Elevating, and Empowering Women in Mortgage Capital Markets

SAN DIEGO, Calif. /ScoopCloud/ -- CapitalW Collective (CapitalW), the glass shattering non-profit benefiting women and their allies in mortgage capital markets, today announced its successful debut within the mortgage industry. Officially launched on May 1, 2024, CapitalW made its first appearance at the Mortgage Bankers Association Secondary and Capital Markets Conference in New York May 19-21.

"We are truly energized by the positive feedback from colleagues, partners, and new acquaintances at the MBA Secondary on our purpose, mission, and ideas for bringing a new generation of leaders into mortgage capital markets," said Amy Creason, Co-Founder and Board Member.

CapitalW was formed by industry veterans who saw a need to amplify current achievement and ensure future success for more diverse participants.

"CapitalW is singular in its scope. We're the only mortgage non-profit that is specifically focused on women in capital markets," stated Leslie Winick, Co-Founder and Board Member. "Capital markets is a broad term and includes the entire loan lifecycle - pricing, locking, hedging, servicing, sales, securitization - there's room for so many skill sets and varied backgrounds. We welcome all under the CapitalW banner."

"While in New York, we met with leading industry associations and companies to explore collaborative educational programming, outreach, and networking support. Sponsorships were secured to assist in the delivery of CapitalW endeavors, and more are in process," commented Patricia Peters, Co-Founder and Board Member.

During 2024, the organization will focus on virtual learning and engagement. CapitalW will also curate a "speakers bureau" for easy search and identification of female capital markets experts for panel and roundtable participation, media inquiries, and more. In the years ahead, CapitalW is planning to host content-rich, in-person events that will showcase talent, promote knowledge sharing, and expand professional networks.

Offering visibility and support to women doesn't just help level the playing field - it provides affirmation and further opportunity to the people who are actively transforming the mortgage industry of today and tomorrow.

"Our mission is to create more inclusive and dynamic mortgage capital markets, one woman and ally at a time. Sure, we have work to do, but it's an achievable goal," said Ms. Creason.

For additional information and to learn how you can get involved or become a sponsor, visit https://capitalwcollective.org/.

Supporters can also follow CapitalW on Linkedin.

About CapitalW Collective:

CapitalW Collective ("CapitalW") is a 501(c)(3) non-profit comprised of female capital markets professionals and their allies that fosters an environment of learning, growth, recognition, and achievement. CapitalW is working to ensure that more women are present, seen, and heard in mortgage capital markets.

CapitalW Collective (CapitalW), the glass shattering non-profit benefiting women and their allies in mortgage capital markets, today announced its successful debut within the mortgage industry. Officially launched on May 1, 2024, CapitalW made its first appearance at the Mortgage Bankers Association Secondary and Capital Markets Conference in New York May 19-21.

Related link: https://capitalwcollective.org/