Tag Archives: PROGRESS in Lending Association

MMI Honored with 2025 AI Pioneer Award for Innovative Use of Artificial Intelligence in Mortgage Technology

SALT LAKE CITY, Utah, Nov. 18, 2025 (SEND2PRESS NEWSWIRE) — Mobility Market Intelligence (MMI), the leader in mortgage technology, has been recognized with the 2025 AI Pioneer Award by PROGRESS in Lending Association for leveraging artificial intelligence like ChatMMI cross its platform to deliver to deliver real, measurable outcomes for lenders—from opportunity discovery and timely outreach to borrower retention and lifetime loyalty.

Image caption: NEW! ChatMMI’s Automatic User Awareness, “What are my opportunities today?” — ChatMMI knows exactly who you are & delivers insights specific to you.

The AI Pioneer honorees were selected for moving beyond experimentation to operationalize AI at scale. At MMI, this evolution has been guided by CEO & Founder Ben Teerlink’s vision to make intelligence and closing loans effortless for loan officers and lenders. Under CTO Dan Jones’s technical leadership, MMI has turned that vision into reliable, production-grade systems.

“Our north star has been simple from day one: make intelligence effortless for originators,” said Teerlink. “AI should remove friction, not add it. I’m proud of how our teams turned that vision into systems that act at the right moment so lenders can close more loans with less effort.”

“AI isn’t a side project at MMI – it’s how the platform works,” said Jones. “We built a conversational layer (ChatMMI), predictive signals, and engagement workflows into a single ecosystem. The goal is precision: surface the right opportunity, trigger the right action, and measure the business impact—all without asking users to stitch tools together.”

Ways MMI Operationalizes AI Today

ChatMMI (Conversational AI): Natural-language questions return instant, data-backed answers—no dashboards or manual queries required.
Predictive Borrower Intelligence (MonitorBase): AI-driven alerts for equity changes, listing signals, MI removal, and opportunity windows—feeding timely retention plays.
AI-Driven Content Creation (Bonzo): Generates and personalizes relevant messaging at scale, enabling teams to communicate faster and with greater precision.
Automated Engagement (MMI One + Bonzo): Outreach sequences trigger automatically, using verified data and intent to time messages and tasks.
Data Quality & Coverage: AI-assisted matching and normalization expand coverage and accuracy across markets; unified intelligence supports recruiting, partner mapping, and market moves.
Pathways Home: A consumer experience that turns insights into everyday value—equity tracking, valuation trends, and loan health—keeping LOs connected for life.

Together, these capabilities enable lenders to move easily from Lead → Loan → Lifetime Loyalty, with AI quietly orchestrating insights and actions in the background.

About MMI

MMI delivers the mortgage industry’s only all-in-one tech platform that helps LOs close more loans faster. MMI One unifies market intelligence (MMI Data Center), predictive borrower alerts (MonitorBase), effortless engagement (Bonzo), and conversational AI (ChatMMI) so lenders can operate more efficiently—automatically. Pathways Home extends that intelligence to homeowners with personalized, white-labeled insights that keep lenders top of mind long after closing. Learn more at https://mmi.io/ or contact sales@mmi.io.

About PROGRESS in Lending Association

PROGRESS In Lending Association was formed to help lending executives grow their business by boiling down the latest news and trends into sound strategies. Ther company is run by industry veterans that have come together to make a positive difference for their readers.

MULTIMEDIA:

Image link for media: https://www.Send2Press.com/300dpi/25-1118-s2p-mmi-ai-300dpi.webp

Image caption: NEW! ChatMMI’s Automatic User Awareness, “What are my opportunities today?” — ChatMMI knows exactly who you are & delivers insights specific to you.

NEWS SOURCE: Mobility Market Intelligence

This press release was issued on behalf of the news source (Mobility Market Intelligence), who is solely responsible for its accuracy, by Send2Press Newswire. Image, if any, was provided by the news source and not this website or the wire service. Information is believed accurate, as provided by the news source, but is not guaranteed.

To view the original story, visit: https://www.send2press.com/wire/mmi-honored-with-2025-ai-pioneer-award-for-innovative-use-of-artificial-intelligence-in-mortgage-technology/

PROGRESS in Lending recognizes Argyle as a leader in mortgage industry innovation

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, is a 2024 recipient of the PROGRESS in Lending Association's 2024 Innovations Award honoring the most innovative companies in the U.S. mortgage industry. Argyle was recognized for its revolutionary approach to verification of income and employment (VOIE) that delivers meaningful cost savings for lenders and a superior experience for customers.

Argyle delivers secure access to direct-source income and employment data in real time. Its coverage of the US workforce, which includes gig economy workers and 99% of the Fortune 1000, is superior to the three largest credit bureaus and boasts the highest conversion rates in the market.

As the the first provider of consumer-permissioned income and employment data to be named an authorized Desktop Underwriter® (DU®) Validation Service report supplier by Fannie Mae, Argyle empowers lenders to auto-retrieve paystubs and W-2s, verify income and employment and qualify for Day 1 Certainty®-all at 60-80% less cost. In addition, Argyle seamlessly integrates with leading loan origination systems (LOS) and point-of-sale (POS) platforms such as ICE's Encompass, the Empower® LOS from Dark Matter Technologies, and the nCino Mortgage Suite.

"This recognition speaks to the impact Argyle is having on the mortgage industry," said Argyle CEO Shmulik Fishman. "It's a relief for lenders to get accurate, complete reporting quickly, so their loan teams can make decisions efficiently and focus their time on providing great customer experiences instead of number-hunting."

Now in its 14th year, PROGRESS in Lending's Innovations Award program recognized 30 companies for their contributions to innovation in mortgage lending in 2024. After scoring applicants on a weighted scale, judges selected winners based on their industry significance, originality and positive impact on lending efficiency. To view the complete list of winners, visit https://mymortgagemindset.com/the-2024-innovations-award-winners-are/

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 direct-source 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 @FastCompany #FCMostInnovative

Argyle, a platform providing automated income and employment verifications for some of the largest lenders in the United States, is a 2024 recipient of the PROGRESS in Lending Association's 2024 Innovations Award honoring the most innovative companies in the U.S. mortgage industry. Argyle was recognized for its revolutionary approach to verification of income and employment (VOIE) that delivers meaningful cost savings for lenders and a superior experience for customers.

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

DocMagic’s Leah Sommerville Receives Inaugural NextGen Leader Award

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, automated regulatory compliance, and comprehensive eMortgage services, announced that Leah Sommerville, one of its digital mortgage and eClosing subject matter experts, was honored with PROGRESS in Lending Association's inaugural NextGen Leader Award.

The new award recognizes rising visionaries and thought leaders that have been in the mortgage industry for ten years or less. The winners encompass a wide range of mortgage professionals with diverse skill sets that have one commonality: helping their companies make a difference for the good of the industry. They are creative, out-of-the-box thinkers who go above and beyond what's expected, are not afraid to step forward and blaze a new trail, and constantly offer bold new ideas.

"Being named to this new list of industry professionals who are all striving to make a difference is truly an honor," said Sommerville. "At the end of the day, working for an industry-leading company like DocMagic that is constantly innovating makes it easy to get excited and passionate about introducing digital mortgage solutions to lenders. I look forward to more success with DocMagic's Total eClose platform and supporting digital lending throughout 2021."

Notable is that in 2020, DocMagic achieved 128 percent year-over-year growth and executed the most eClosings in company history, tallying a 724 percent increase in transactions via its Total eClose™ platform.

Leah has been a member of DocMagic's eClosing team for several years, placing an emphasis on working with lending entities to help form their digital mortgage and eClosing strategies. She has dedicated herself to the furtherance and promotion of DocMagic's innovative digital mortgage solutions and has successfully leveraged her industry knowledge, relationships, and unwavering drive to help implement best practices and adoption of eClosing workflows and solutions - all in an effort to improve mortgage processes that benefit key stakeholders within the supply chain.

In a short period of time, Leah has developed into a respected thought leader in the digital mortgage transformation movement, specifically with eClosings, eNotarizations, eNotes, eVaults, eRegistry, investor eDelivery, and compliance adherence.

Leah utilizes her eClosing expertise to implement best practices and adoption techniques for lender eClosings. She helps provide lenders with the flexibility needed to be successful in a fast-moving mortgage market for both the short and long term.

DocMagic's Total eClose™ platform is an award-winning, end-to-end solution that seamlessly integrates every component of the closing process and enables a fully paperless workflow. The single-source solution can be leveraged by lenders in a modular fashion that grows with lenders' businesses as they advance digitizing their mortgage operations.

About DocMagic:

DocMagic, Inc. is the leading provider of fully compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, processes, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and data integrity to execute precision-based digital lending transactions. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit www.docmagic.com.

Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

Social: @DocMagic #TotaleClose #eClosingLeader #NextGenLeader

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, automated regulatory compliance, and comprehensive eMortgage services, announced that Leah Sommerville, one of its digital mortgage and eClosing subject matter experts, was honored with PROGRESS in Lending Association's inaugural NextGen Leader Award.

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

Dominic Iannitti Honored with 2020 Lending Luminary Award by PROGRESS in Lending Association

TORRANCE, Calif. /ScoopCloud/ -- DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that that its president and CEO, Dominic Iannitti, was recognized as a Lending Luminary award winner in the second annual list of honorees. Winners were announced on Oct. 15 at the 10th annual ENGAGE event, which PROGRESS in Lending held virtually this year.

PROGRESS in Lending says a "luminary" is a person who inspires or influences others. The Lending Luminaries list is comprised of business and technology leaders from multiple areas in the industry, including mortgage bankers, a wide array of lending entities, servicers, technology executives, consultants and more. PROGRESS in Lending cites several key accomplishments that Dominic was a part of in the last in the last 12 months to lead DocMagic to success.

In April of this year, Dominic officially launched AutoPrep, a new technology that enables DocMagic's comprehensive Total eClose(TM) platform to accept documents from any source by "e-enabling" them for paperless eClosings. AutoPrep leverages AI, OCR and machine learning technologies to scan and parse documents, locate all signature and notary regions, then electronically tag them for eClosing, thus changing any document into a fully e-enabled document in seconds. This allows lenders to use loan documents produced by virtually any document provider, from standard documents to partially e-enabled documents. Total eClose then handles an end-to-end paperless eClosing process.

Dominic's addition of AutoPrep to accept documents from any source and "e-enable" them for preparation to complete a fully paperless eClose is a significant R&D investment and technology strategy to help more lenders perform comprehensive eClosings.

"I'm a firm believer that these innovations work to establish much-needed interoperability between disparate systems and critical entities within the Digital Mortgage Ecosystem," Dominic told PROGRESS in Lending. "Our goal is for our industry-leading eClosing platform to be completely open, handling documents from all vendors and sources without any manual effort or additional labor required."

In addition, judges at PROGRESS in Lending also recognized Dominic' efforts this year to help clients adapt to the changing business climate throughout the pandemic that required social distancing measures and work-from-home (WFH) orders. DocMagic's Total eClose platform helped lenders immensely in executing mortgage closings electronically --- from within borrowers' homes. And with emergency Remote Online Notarizations (RON) implemented in multiple states to support social distancing mandates and ensure the housing market flourishes, Dominic ensured that DocMagic quickly and effectively responded to clients' urgent need for RON within its Total eClose platform.

PROGRESS in Lending asserts that the mortgage market is currently filled with uncertainty and will remain in flux for some time to come, and a true Lending Luminary effectively handles and navigates constantly changing market conditions. They have been identified as leaders who are ensuring the future success for their companies and the industry as a whole.

A complete list of this year's 2020 Lending Luminary winners can be found on PROGRESS in Lending's website https://mymortgagemindset.com/the-2020-lending-luminary-award-winners-are/.

About DocMagic:

DocMagic, Inc. is the leading provider of fully-compliant document generation, automated compliance, eSignature and comprehensive eMortgage solutions for the mortgage industry. Founded in 1987 and headquartered in Torrance, Calif., DocMagic, Inc. develops award-winning software, mobile apps, processes, and web-based systems for the production and delivery of compliant loan document packages. The company's solutions connect industry participants, promote collaboration, and data integrity to execute precision-based digital lending transactions. The company's compliance experts and in-house legal staff consistently monitor legal and regulatory changes at both the federal and state levels to ensure accuracy. For more information on DocMagic, visit https://www.docmagic.com/.

Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

Social Media: @DocMagic #2020LendingLuminary #DominicIannitti #Total eClose #AutoPrep

DocMagic, Inc., the premier provider of fully-compliant loan document preparation, regulatory compliance and comprehensive eMortgage services, announced that that its president and CEO, Dominic Iannitti, was recognized as a Lending Luminary award winner in the second annual list of honorees. Winners were announced on Oct. 15 at the 10th annual ENGAGE event, which PROGRESS in Lending held virtually this year.

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

ReverseVision President Joe Langner Lauded as Mortgage Technology Thought Leader by PROGRESS in Lending Association

SAN DIEGO, Calif. /ScoopCloud/ -- ReverseVision, the leading technology provider for the Home Equity Conversion Mortgage (HECM) and private reverse lending program market, today announced that company President Joe Langner has been honored as a mortgage technology Thought Leader by PROGRESS in Lending Association. In its inaugural year, the awards program honors mortgage technology executives who "are not afraid to step forward and blaze a new trail."

Langner joined ReverseVision as president in March 2020 to help establish HECM and private reverse mortgages as staple programs in mainstream lending portfolios. Since joining the company, Langner has guided its technology coexistence strategy enabling traditional lenders to evaluate and originate HECM and private reverse mortgages alongside their "forward" mortgage counterparts.

"Adopting an API-enabled strategy is critical to positioning ReverseVision for long-term technological relevance as the digital mortgage space enters a period of accelerated growth," said ReverseVision CEO John Button. "By making it possible for loan originators to easily incorporate senior lending products into their origination workflow, Langner is empowering borrowers with choice and a rewarding return on their investment in reverse lending."

About ReverseVision

ReverseVision, Inc. is the leading Home Equity Conversion Mortgage (HECM) and private reverse mortgage program sales and origination technology platform, supporting more reverse mortgage transactions than all other systems combined. The company's comprehensive product suite flexes to lenders' unique business and operational models, connecting all lending participants across the entire reverse mortgage lifecycle to meet borrowers where they are in life. A five-time HousingWire TECH100(TM) company, ReverseVision continues to build on its technology's pioneering capabilities with frequent enhancements.

For more information, visit https://www.reversevision.com/.

ReverseVision, the leading technology provider for the Home Equity Conversion Mortgage (HECM) and private reverse lending program market, today announced that company President Joe Langner has been honored as a mortgage technology Thought Leader by PROGRESS in Lending Association.

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

Innovation Technology Award Goes to OpenClose Loan Origination System

WEST PALM BEACH, Fla. /ScoopCloud/ -- OpenClose(R), the industry-leading omni-channel loan origination system (LOS) and digital mortgage fintech provider, announced that it received PROGRESS in Lending Association's 2020 Innovation Award for its "truly game-changing solutions in the mortgage space." The award was given for OpenClose's newly combined end-to-end browser-based LOS, digital mortgage point-of-sale (POS) solution, native product and pricing engine (PPE), businesses intelligence (BI) capabilities, and RESTful API suite.

Award winners were selected by a panel of mortgage technology experts that selected winners based on each innovation's overall industry significance; the innovation's originality; the positive change the innovation made possible; the intangible efficiencies gained as a result of the innovation; and the hard cost and time savings that the innovation enables industry participants to achieve.

"We're ecstatic to be honored with this 2020 Innovation Award," said JP Kelly, president at OpenClose. "As PROGRESS in Lending acknowledged, we were the first to successfully create a single-source, 100 percent browser-based LOS and POS solution. The genesis of this model stemmed from us observing lenders having to deal with too many disparate technologies and vendors in order to automate digital lending processes, which can be prone to compatibility problems and increase cost per loan."

According to its website, PROGRESS in Lending states that while there are a lot of digital mortgage POS vendor offerings offering standalone solutions in the market, OpenClose was the ground-breaking vendor that decided to focus on developing the first truly consolidated digital mortgage POS and end-to-end multi-channel LOS solution offered by a single-source provider along with a native PPE, BI, and RESTful API suite.

We are the only mortgage fintech provider proven to implement a comprehensive, purely browser-based LOS with omni-channel digital lending capability," asserted Vince Furey, CRO at OpenClose. "As with any leader, our competitors are now copying our marketplace positioning, messaging and value proposition, but falling short. The entire team at OpenClose is appreciative of PROGRESS in Lending Association for recognizing our efforts with this award."

A complete list of the 2020 Innovation Award winners can be found on PROGRESS in Lending's website https://mymortgagemindset.com/the-2020-innovations-award-winners-are.

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose(R) is a leading enterprise-class, omni-channel loan origination system (LOS), POS digital mortgage and fintech provider that cost effectively delivers its digital platform on a software-as-a-service (SaaS) basis. The company provides a variety of innovative, 100 percent browser-based solutions for banks, credit unions, lenders and conduit aggregators. OpenClose's core solution, LenderAssist(TM), is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up. The company offers a RESTful API suite that standardizes system-to-system integrations, making them easier to develop, quicker to implement and more cost effective. OpenClose provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence. For more information, visit https://www.openclose.com/ or call (561) 655-6418.

Social Media: @OpenClose_LOS #LoanOriginationSoftware #DigitalMortgagePOS #InnovationAward #PROGRESSinLending

Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

OpenClose the industry-leading omni-channel loan origination system (LOS) and digital mortgage fintech provider, announced that it received PROGRESS in Lending Association's 2020 Innovation Award for its "truly game-changing solutions in the mortgage space."

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

PROGRESS in Lending Association Honors OpenClose CEO/CTO Jason Regalbuto with 2019 Lending Luminary Award

WEST PALM BEACH, Fla. /ScoopCloud/ -- OpenClose®, an industry-leading multi-channel loan origination system (LOS) and digital mortgage fintech provider, announced that Jason Regalbuto, the company's long-time CEO/CTO, was selected as a 2019 'Lending Luminary' by PROGRESS in Lending Association for his concerted work in leading the mortgage industry and his company to major success over the past 12 months.

PROGRESS in Lending defines a luminary as "a person who inspires or influences others." The association says that the mortgage market is currently filled with uncertainty and will remain in flux for some time to come, and a true Lending Luminary effectively handles and navigates constantly changing market conditions.

The Lending Luminaries list is comprised of business and technology leaders ranging from multiple areas in the industry including mortgage bankers, a wide array of lending entities, servicers, technology executives, consultants and more. They have been identified as leaders who are ensuring the future success for their companies and the industry as a whole.

Specifically, Regalbuto was cited by PROGRESS in Lending for helping spearhead a technology undertaking that offers OpenClose's own POS digital mortgage technology, consolidating it with their enterprise consumer direct solution, ConsumerAssist™. The offering enables OpenClose to provide a robust digital mortgage solution starting at the POS with key functions like 1003 capture, VOE, VOI, VOA, and tax returns - with instant validation from first party data sources. Credit is then pulled and the loan seamlessly and swiftly moves to underwriting for automated decisioning within OpenClose's fully browser-based LenderAssist™ LOS.

Furthermore, the offering provides real-time interaction with the borrower throughout the loan fulfillment process. Regalbuto was instrumental in this major technology and business breakthrough to penetrate the digital space, which has disrupted the existing modularized POS technology models.

"I am pleased to be honored by PROGRESS in Lending Association to receive its inaugural Lending Luminary award," said Regalbuto. "We have made great strides developing OpenClose into one of the mortgage industry's leading LOS platforms. To date, we are the only technology vendor proven to offer a comprehensive, purely browser-based LOS with multi-channel capability, along with both front-end digital POS and back-office LOS functionality via a single provider that is successful taking lender customers live. Our competitors are merely copying our marketplace positioning, messaging and value proposition. Imitation is the sincerest form of flattery, as they say. It's a very exciting time to be a part of OpenClose's wildly successful and rapid growth."

Serving as both CEO and CTO for OpenClose, Regalbuto helps shape the company's vision and marketplace positioning, strategic design of its core technology platform, development and enhancements of additional software modules, as well as the on-going development of new products, integrations, and innovative technology initiatives.

Moving forward, Regalbuto says he plans on focusing on incorporating the latest technologies into the existing OpenClose technology stack in order to satisfy multiple types of lender, borrower, and marketplace needs. Sophisticated technologies such as Business Intelligence (BI), Robotic Process Automation (RPA), Artificial Intelligence (AI), Auto-tasking, Mobile App integrations, and more are all on his radar.

About OpenClose:
Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose® is a leading enterprise-class, multi-channel loan origination system (LOS), POS digital mortgage and fintech provider that cost effectively delivers its digital platform on a software-as-a-service (SaaS) basis. The company provides a variety of innovative, 100 percent web-based solutions for lenders, banks, credit unions, and conduit aggregators. OpenClose's core solution, LenderAssist™, is comprehensive loan origination software that is completely engineered by OpenClose using the same code base from the ground up. The company offers a RESTful API suite that standardizes system-to-system integrations, making them easier to develop, quicker to implement and more cost effective. OpenClose provides lending organizations with full control of their data and creates a truly seamless workflow for complete automation and compliance adherence. For more information, visit https://www.openclose.com/ or call (561) 655-6418.

Media Contact:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

OpenClose, an industry-leading multi-channel loan origination system (LOS) and digital mortgage fintech provider, announced that Jason Regalbuto, the company's long-time CEO/CTO, was selected as a 2019 'Lending Luminary' by PROGRESS in Lending Association for his concerted work in leading the mortgage industry and his company to major success over the past 12 months.

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

NEXT Wins PROGRESS in Lending Innovations Award

EDMOND, Okla. /ScoopCloud/ -- NEXT Mortgage Events LLC, creator NEXT women's mortgage tech summit, has announced that it was named a winner of the Innovations Award from PROGRESS in Lending Association.

PROGRESS in Lending named the Innovations award winners at its ninth annual namesake event. Winners were selected based on the innovation's overall industry significance, the originality of the innovation, the positive change the innovation made possible, the intangible efficiencies gained as a result of the innovation, and the hard cost and time savings that the innovation enables industry participants to achieve. All applications were scored on a weighted scale.

NEXT, the mortgage industry's only technology-centric summit for women executives, was selected for this award based on several unique contributions to the mortgage space:
* NEXT expands the industry-wide visibility allotted to accomplished women mortgage executives
* NEXT is the only open event that provides competitive intel directly from executives currently employed at mortgage lending institutions
* NEXT's effective networking environment has yielded millions of dollars in technology sales, partnerships, and promotions in just over one year.

NEXT is a biannual technology summit for senior executives in mortgage lending. It features lender-centric educational content, technology showcases and meetings, and numerous networking events. Pre-registration for the August 2019 event is currently open to NEXT VIPs. Registration will open to the general public in April.

About NEXT Mortgage Events LLC:

In January 2018, NEXT Mortgage Events broke the mortgage industry's unspoken barriers that limit women's access to competitive intel and networking-based information exchange, when it introduced NEXT, the mortgage technology summit for women. NEXT is a two-day, tech-focused symposium based on lenders sharing competitive intel with other lending executives.

A boutique gathering, each NEXT event is limited to 200 attendees, and targets a select group of decision-making executives. Roughly 85-90 percent of lender attendees hold a title of VP or higher and approximately 85 percent of attendees are women. NEXT is held twice a year, in winter and summer.

For more information:
Visit https://www.nextmortgageconference.com/ - or follow @NEXTmtgEvents or email info@NEXTmortgageEvents.com.

NEXT Mortgage Events LLC, creator of the NEXT women's mortgage tech summit, has announced that it was named a winner of the Innovations Award from PROGRESS in Lending Association.

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

MCT Wins PROGRESS in Lending Association’s 2018 Innovation Award for its New Bid Auction Manager (BAM) Whole Loan Trading Technology

SAN DIEGO, Calif. /ScoopCloud/ -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that PROGRESS in Lending Association, the industry's premier mortgage technology focused organization, presented the company with its annual Innovation Award for the rapid adoption and impact of its Bid Auction Manager(TM) (BAM) within the whole loan trading market.

Officially unveiled in July of 2017 at the Western Secondary Market Conference in San Francisco, BAM significantly enhances the industry's loan sale practices. The solution completely automates, centralizes, and streamlines what used to be an unsecure, fragmented, and largely manual process of exchanging, pricing, and analyzing bid tapes for loan sales. Lenders, investors, and MCT's team of mortgage loan traders benefit from a consistent process, greater transparency, and a centralized repository for bid tape management. BAM is easily and securely accessed by permissioned parties via MCT's award-winning capital market software platform, MCTlive!(TM).

Now in its eight year, the highly competitive annual Innovation Awards were presented to winners at a prestigious ceremony held by PROGRESS in Lending Association at the MBA's National Mortgage Technology Conference in Detroit, Michigan on Sunday, April 15. Judges scored applications using a weighted scale that focuses on achievements over a 12-month period for each innovation's overall industry significance, originality, positive change on the industry, intangible efficiencies gained, and hard return on investment.

"BAM is truly industry-altering fintech that is changing the way bulk bid loan tapes are transferred between lenders and investors," said Phil Rasori, COO at MCT and Chief Architect of BAM. "As we continue to add functionality and make the solution more robust, ultimately, what BAM is achieving is helping move the mortgage industry toward digital loan trading on the secondary market. We are extremely honored to have been recognized by PROGRESS in Lending as a 2018 Innovation Award winner."

Since launching BAM, functionality has been added for both lenders and correspondent investors, with several notable metrics that have been achieved:
* 100% adoption among the investor aggregator community
* 1,200+ bid tapes exchanged daily
* $7 billion+ in monthly committed loan volume
* 2+ hours saved by lenders on average per loan sale
* Shadow bidding facilitates identifying and testing new investors
* Commitment data writeback saves time and prevents data entry errors
* Live color reports put actionable data in the hands of sellers
* Timestamp analytics help measure and optimize operations.

"Using BAM saves us 2 to 4 hours every time we do loan sales. The convenience of communication and analysis has encouraged us to send bid tapes to our full set of investors more often rather than just the top-tier, resulting in a surprising pickup in some cases," said Timothy Leyoub, SVP of Capital Markets at Eustis Mortgage. "We used to bid out on a 15-day delivery, but now we've reduced that to 7-days. Working with MCT, I feel like we're in this together -reducing risk and achieving best execution."

Lenders and correspondent investors interested in learning how BAM can improve their whole loan trading processes are encouraged to request a demonstration at the upcoming National Secondary Conference in New York City, where new features are expected to be announced.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT) has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully-integrated capital markets services and technology. MCT offers an array of best-in-class services and software covering mortgage pipeline hedging, best execution loan sales, outsourced lock desk solutions, MSR portfolio valuations, business intelligence analytics, mark to market services, and an award-winning comprehensive capital markets software platform called MCTlive! MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes.

Headquartered in San Diego, California, MCT also has offices in Philadelphia, Santa Rosa, Los Angeles and Dallas. MCT is well known for its team of capital markets experts and senior traders who continue to provide the boutique-style hands-on engagement clients love. For more information, visit https://mct-trading.com/ or call (619) 543-5111.

Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that PROGRESS in Lending Association, the industry's premier mortgage technology focused organization, presented the company with its annual Innovation Award for the rapid adoption and impact of its Bid Auction Manager(TM) (BAM) within the whole loan trading market.

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