Business, Free News Articles, Software

MMI provides access to loan originator production data with LO Quick Profiles

SALT LAKE CITY, Utah -- Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, today announced the release of its new LO Quick Profile search tool, which provides a summary view of a loan originator's (LO) production and top referral partners. This information allows lenders to evaluate LOs based on real-time, accurate transaction history rather than relying on their self-reported numbers.

Using the LO Quick Profile, lenders can enter specific LO NMLS numbers into the search bar and, with the click of a button, view production volume metrics from 14 months, 7 months and year-to-date, including:

* Loan production volume;

* Transaction types;

* Loan types;

* Top buy-side & list-side agent partners; and

* Top regions based on performance.

These real-time insights, which can be printed or saved as a PDF, provide lenders with an up-to-date look at LO performance and arm recruiters with the concrete performance data they need to decide whether candidates in their prospect pipeline are high-value targets. Understanding current production trends can also help companies adjust their performance expectations to include more realistic parameters.

"MMI collects, collates and cleanses data from multiple sources to provide actionable intelligence and satisfy many business goals, including LO recruiting," said MMI Founder and CEO Ben Teerlink. "The LO Quick Profiles are a condensed view of MMI's LO Fast Fact Profiles, which provide lenders and LOs with a comprehensive look into recent production highlights that aren't readily available and may have been previously missed."

While the LO Quick Profiles provide limited public access to some LO data, MMI's Fast Fact Profiles for subscribers deliver much deeper details, such as a more comprehensive list of buy-side and list-side agent relationships from the past 14 months, the number of transactions per agent, the agent's name and contact information and access to the agent's Fast Fact profile. Additionally, contact information can be imported into customer relationship management (CRM) software.

"MMI's objective is to provide the mortgage industry with tools that are helpful to lenders and LOs and give a taste of the actionable insights derived from the extensive amount of data available and how both can be used to further business objectives," continued Teerlink. "This is the latest in a series of MMI tools that provide non-customers with limited access to our platform data and insights. In our ongoing effort to highlight the importance of data in the mortgage industry, MMI will continue to develop and release resources like this to the public."

To learn more about MMI and the new LO Quick Profiles, visit https://mmi.io/profileLO/.

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 350 enterprise customers, including 20 of the top 25 lenders in the country. To learn more, visit https://mmi.io or contact sales@mmi.io.

Related link: https://mmi.io

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles

MMI Announces Strategic Acquisition of Bonzo Mortgage / Real Estate CRM Platform

SALT LAKE CITY, Utah -- Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, announced its acquisition of relationship management and mortgage marketing platform provider Bonzo. The Bonzo leadership team, including founder and president Jason Perkins, founder and COO/CRO Miles Miller, and CEO Chad Jampedro, will continue to guide the company as it operates as an independent service. However, current and future MMI and Bonzo customers will soon begin to benefit from a growing list of the two technology platforms' integrated services and features.

"MMI's acquisition of Bonzo is the next logical step in the path we've been pursuing for the past year or more, which is to deliver cost-efficient, best-in-breed solutions to the mortgage industry in a consolidated, easy-to-use, integrated environment," said MMI founder and CEO Ben Teerlink. "Built around how consumers want to communicate today, Bonzo is a breath of fresh air in what can often feel like a stale mortgage technology landscape, and we see tremendous potential in the potent combination of MMI's industry-leading data and Bonzo's new-generation marketing and technology."

Founded by former mortgage professionals keenly aware of industry pain points, Bonzo is a reimagined CRM platform for modern mortgage advisors and real estate agents. The platform combines all the tools necessary to acquire, convert and retain clients with a simple, easy-to-use interface that enables loan officers and agents to authentically and efficiently engage with clients and prospects. Key features include:

* Campaign Builder to conduct personal, customized outreach at scale;

* Messaging that supports voice, video and text, including GIFs and emojis;

* Ad Builder for Google and Facebook ad creation; and

* Pipeline dashboard to organize the sales process.

"From top to bottom, the entire Bonzo team is ecstatic about the sky-high potential we see on the horizon with MMI," said Perkins. "When you combine MMI's unrivaled LO, agent and transaction data with Bonzo's superior marketing CRM experience, we're going to have lots of happy and efficient customers."

About Bonzo

Bonzo has reimagined the CRM to make selling fun again so advisors and agents can focus on what matters most. With Bonzo, advisors and agents can attract, convert and retain clients on autopilot, enabling them to earn more without working more. More than 2,000 clients have leveraged Bonzo to have more conversations without wasting time on people who aren't ready to talk, engage with people in a way that feels real and approachable without all the legwork, and build lasting relationships that go beyond one deal. To learn more, visit https://getbonzo.com.

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 20 of the top 25 lenders in the country. To learn more, visit https://mmi.io or contact sales@mmi.io.

Related link: https://mmi.io

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Alliances and Partnerships, Business, Free News Articles, Software

Northwest Bank Collects Fees within Minutes with LenderLogix FeeChaser

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks, and brokers, today announced Northwest Bank has selected its payment processing platform Fee Chaser to ensure compliant collection of upfront fees and deliver borrowers a five-star digital experience.

Fee Chaser integrates with Northwest Bank's loan origination system (LOS) to send a unique link to the borrower within one click. On average, borrowers make a payment within five minutes of receiving the link. Once paid, all parties receive a receipt, and the LOS is automatically updated.

"As a service-oriented bank, we're constantly seeking ways to enhance the value we provide to our customers. Fee Chaser has taken our borrower experience to the next level by helping us extend the five-star service we deliver to our mortgage customers beyond the initial point of contact," said Rocco Diina, Northwest Bank Senior VP and Head of Mortgage Sales. "Thanks to the support from the LenderLogix team, we were able to go live within a matter of weeks."

"Our partnership with Northwest Bank is an example of our commitment to empowering lenders with cutting-edge technology to enhance their operations," said Patrick O'Brien, Co-Founder and CEO of LenderLogix. "It's our firm belief that borrower experience is the key differentiator for lenders. The lenders investing in their tech now in a down market will be the same lenders at the top when the market reverses course."

About LenderLogix
LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs 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/.

RELATED LINKS:
https://www.lenderlogix.com/fee-chaser

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business, Free News Articles

HousingWire honors TrustEngine Vice President Rachel Cunningham as a 2023 Women of Influence

ELLICOTT CITY, Md. -- TrustEngine™, a provider of data-driven homebuyer engagement and education solutions for lenders, today announced Vice President of Customer Success Rachel Cunningham has been named a HousingWire 2023 Women of Influence award honoree. The Women of Influence awards program recognizes the achievements of women who are shaping the U.S. housing economy.

Cunningham was recognized for making an outstanding impact on TrustEngine and its lender clients during her multi-year tenure leading customer success at the company. During the merger of Sales Boomerang and Mortgage Coach, now TrustEngine, Cunningham restructured customer success into three divisions to better serve clients under a unified brand. Her enhancements to the company's onboarding procedures greatly accelerated implementation timelines and her coaching of the customer success team to take on an advisory approach to account management led TrustEngine to exceed retention targets. Under Cunningham's leadership, TrustEngine has achieved a 98% customer satisfaction score.

As interest rates began to rise, Cunningham took proactive measures to both support lenders through a steep drop in volume as well as prevent client churn. Guided by empathy, Cunningham consulted with clients to optimize their service plans for the new market. Also, with many clients undergoing mergers and acquisitions themselves, Cunningham developed special procedures to support unique contractual changes and onboarding scenarios.

"Rachel has proven herself to be a highly adept leader who uplifts her team, organization and lenders at every turn," said TrustEngine CEO Richard Harris. "I commend all that she has accomplished and her unwavering dedication to ensuring clients have the resources and know-how to build revenue with TrustEngine's tools, no matter the mortgage market."

About TrustEngine:

More than 200 independent mortgage companies, credit unions, banks and brokers depend on TrustEngine's innovative solutions to unlock additional loan opportunities, increase conversion and strengthen customer loyalty through individualized, data-driven engagement and education. With Sales Boomerang's intelligent alerts, lenders always know when a past customer or prospect is ready and credit-qualified for a loan. Award-winning loan presentations from Mortgage Coach equip lenders to deliver a consultative home financing experience that encourages faster, more informed loan decisions. The TrustEngine Borrower Intelligence Platform (BIP) combines the best of both flagship products with world-class data analysis and segmentation, sophisticated probability and profitability modeling, intelligent loan pacing and routing, compelling borrower interactions, and ongoing performance evaluation and optimization. The result is a category-leading solution that enhances lenders' existing technology investments and puts data in the driver's seat of every customer engagement. For a closer look at how TrustEngine turns loan officers into trusted mortgage advisors, visit https://www.trustengine.com/.

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Real Estate, Reports and Studies

LenderLogix Q2 2023 Homebuyer Intelligence Report Data Shows Slight Increase in Homebuying Activity Despite Affordability and Inventory Challenges

BUFFALO, N.Y. -- 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 2023.

Pre-Approvals

In Q2 2023, borrowers generated 58,927 pre-approval letters through LenderLogix's QuickQual pre-approval platform, an increase of nearly 11% over Q1. While the average number of borrower logins to QuickQual declined from 12 times in Q1 to 8 times in Q2, loan officers increased their number of pre-approved borrowers by 16% over the period to 28, up from 24 in Q2.

The average pre-approval letter loan amount in Q2 increased by 4% to $302,836 compared to Q1's average loan amount of $292,491. Additionally, the average sales price increased 5% from $334,022 in Q1 to $348,348 in Q2, resulting in an average down payment of roughly 13% versus 12.4% in Q1.

Conventional loans were again the most popular loan type for pre-approved borrowers, with its share remaining virtually unchanged at 71% versus 72% in Q1. Similarly, FHA pre-approval share remained steady at 22% versus 21% in Q1, as did VA (5%) and USDA share (1%).

"Increases in both pre-approval letters generated and average number of pre-approved borrowers per loan officer signal slight improvements in the homebuying market, which is an excellent sign for lenders struggling under recent market conditions," said LenderLogix Co-Founder and CEO Patrick O'Brien. "However, the rise in average sales price, loan amount and down payment indicate that it's only getting more expensive for borrowers to buy so lenders will need to equip themselves with the tools and resources necessary to make homebuying more affordable."

Borrower Conversion

Of the borrowers using QuickQual in Q2 2023, the average number of days between pre-approval and loan submission increased to 89.3 days, compared to 71 days in Q1. The most prolonged duration between pre-approval and application also increased from 622 days in Q1 to 994 days in Q2. The increased length between pre-approval and loan submission did not dissuade borrowers, as conversions from borrowers using QuickQual rose from 56% in Q1 to 58% in Q2, with those borrowers generating an average of 9 pre-approval letters before converting.

"Lack of inventory is certainly one of the main drivers behind the increase in time between when borrowers get pre-approved and when they submit a loan application, which only compounds the challenges facing today's buyers," O'Brien noted. "However, for the loan officers that remain diligent in their outreach to prospects and agents, that effort seemingly pays off. Thus, loan officers should adjust their expectations around the length of today's home search and increase communication during this time to optimize their conversion rate."

Data from the 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 and APIs 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/.

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Reports and Studies

TrustEngine releases Q2 2023 Mortgage Market Opportunities Report

ELLICOTT CITY, Md. -- TrustEngine(TM), a provider of data-driven homebuyer engagement and education solutions for lenders, today announced the release of its latest Mortgage Market Opportunities Report analyzing trends in the frequency of different types of mortgage opportunity alerts through June 2023.

TrustEngine Chief Visionary Officer Alex Kutsishin summarized three top takeaways for mortgage lenders from this quarter's report::

* TODAY'S SELLERS ARE TOMORROW'S HOMEBUYERS

New Listing Alerts from existing mortgage customers jumped 26.23% quarter-over-quarter, signaling opportunity on the horizon for purchase-focused lenders at a time when the median existing-home sales price of $410,200 is within spitting-distance of its all-time high. But with housing inventory as tight as it is, where will these home sellers go? Real estate agents are in desperate need of lenders who can execute on strategies like these. Armed with TrustEngine's Mortgage Coach Advice Engine, loan officers can bring creative home financing options to life in visual presentations that speed borrower understanding and commitment.

* CONSUMERS ARE EAGER TO GET A HANDLE ON THEIR DEBTS

Risk and Retention Alerts are down for a second consecutive quarter, echoing a macroeconomic trend of decelerating credit card debt growth as consumers try to rein in average household credit card debt of over $5,000 and total household debt of more than $100,000. Cashing out home equity to pay off higher-interest debts remains one of today's most compelling use cases for a refinance - but do consumers still have equity to tap? While Equity Alerts fell in Q2 (down 67.79%), context is key. According to ATTOM, the overall portion of equity-rich homes (properties with loan balances less than or equal to 50% of their market value) is still about twice as high as it was three years ago, meaning almost half of homeowners still have considerable untapped wealth in their properties.

* RATES ARE LOOKING A LITTLE FRIENDLIER

While Rate Alerts and Rate-and-Term Alerts accounted for a relatively small fraction of total opportunities in Q2, their frequency increased significantly on a quarter-over-quarter basis as mortgage rates skirted just shy of 7% throughout Q2. After months of uncertainty in the analyst community, consensus opinion now calls for interest rates to drop back below 6% sometime next year - so the frequency of rate-related opportunity alerts should only continue to increase in the coming quarters.

"In a market this competitive, lenders can't afford a scattershot marketing strategy. They have to use data to zero in on the opportunities with the greatest chance of converting, and that's a moving target that changes month to month and quarter to quarter," said Kutsishin. "TrustEngine's Mortgage Market Opportunities Report shows lenders where to focus their customer outreach and salesforce skills training right now, and this quarter, there's an exciting opportunity to help existing homeowners - customers with whom lenders already have a relationship - who are putting themselves in the market for their next home."

Each quarter the Mortgage Market Opportunities Report identifies the market opportunities of relevance to U.S. lenders and borrowers based on alert data from more than 150 residential mortgage lenders. Much more detail on Q2's alert activity can be found in the full TrustEngine Mortgage Market Opportunities Report.

*Analysis provided for informational purposes only. The data represented in the Mortgage Market Opportunities report is historical. Past performance is not a reliable indicator of future results. TrustEngine accepts no responsibility or liability for readers' use of the key findings or analysis included in this report.

About TrustEngine:

More than 200 independent mortgage companies, credit unions, banks and brokers depend on TrustEngine's innovative solutions to unlock additional loan opportunities, increase conversion and strengthen customer loyalty through individualized, data-driven engagement and education. With Sales Boomerang's intelligent alerts, lenders always know when a past customer or prospect is ready and credit-qualified for a loan. Award-winning loan presentations from Mortgage Coach equip lenders to deliver a consultative home financing experience that encourages faster, more informed loan decisions. New in 2023, the TrustEngine Borrower Intelligence Platform (BIP) combines the best of both flagship products with world-class data analysis and segmentation, sophisticated probability and profitability modeling, intelligent loan pacing and routing, compelling borrower interactions, and ongoing performance evaluation and optimization. The result is a category-leading solution that enhances lenders' existing technology investments and puts data in the driver's seat of every customer engagement. For a closer look at how TrustEngine turns loan officers into trusted mortgage advisors, visit https://www.trustengine.com.

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Reports and Studies

Down Payment Resource Issues Q2 2023 Homeownership Program Index Report

ATLANTA, Ga. -- Down Payment Resource (DPR), the housing industry's leading technology for connecting homebuyers with homebuyer assistance programs, issued its Q2 2023 Homeownership Program Index (HPI). The firm's analysis revealed a second consecutive quarterly uptick of 0.5% in the number of homebuyer assistance programs available to help people finance homes, raising the number of programs to 2,373.

Key Findings

An examination of the 2,373 homebuyer assistance programs that were active as of July 3, 2023, resulted in the following key findings:

* Growth in programs that expand inventory options. In response to the dearth of affordable inventory, agencies continue to introduce programs that expand housing options for low-to-moderate income (LMI) home buyers. Last quarter, 24 more programs introduced support for manufactured housing, an increase of 3.4%. Additionally, three programs that support multi-family purchases were introduced, bringing the number of programs that support two- to four-unit residential properties to 650.

* Growth in the number of agencies administering programs. As affordability continues to challenge LMI home buyers, 45 more agencies have stepped up to administer homebuyer assistance programs, a 3.9% increase over the previous quarter. Now 1,323 agencies provide assistance to aspiring homeowners across the country.

* Municipalities administer the lion's share of homebuyer assistance programs. Municipalities support 42.2% of homebuyer assistance programs, roughly double the 21.8% of programs supported by state housing finance authorities (HFAs) and 21.0% of programs supported by nonprofits - the second and third largest source of homebuyer assistance, respectively.

"Marked growth in the number of agencies administering homebuyer assistance programs reflects how affordability challenges are driving demand for affordable pathways to homeownership," said DPR Founder and CEO Rob Chrane. "These emerging community champions play a vital role in making home homeownership more accessible to LMI households and marginalized demographics who have lower rates of homeownership."

"At the same time, agencies are responding to near historic low new listing figures by opening program support of manufactured and multifamily housing," continued Chrane. "This effectively expands inventory options for homebuyers that rely on these programs."

A more detailed analysis of the Q2 2023 HPI findings, including infographics and examples of many of the programs described in this release, can be found on DPR's website at: https://downpaymentresource.com/professional-resource/a-guide-to-q2-2023-homebuyer-assistance-program-trends/.

For a complete list of homebuyer assistance programs by state, visit: https://downpaymentresource.com/wp-content/uploads/2023/07/HPI-state-by-state-data.Q22023.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(r) database.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents.

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

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Awards and Honors, Business, Free News Articles

iEmergent CEO Laird Nossuli named to MPA’s 2023 list of Elite Women in Mortgage

DES MOINES, Iowa -- iEmergent, a forecasting and advisory services firm for the financial services, mortgage and real estate industries, announced today that CEO Laird Nossuli has been named to Mortgage Professional America (MPA) magazine's 2023 list of Elite Women in Mortgage.

Nossuli was recognized for helping lenders grow market share more inclusively using iEmergent's groundbreaking Mortgage MarketSmart platform, an innovative solution that accurately and reliably forecasts demographic, economic and housing market trends at the neighborhood level. By effectively mapping the movement and growth of homebuyer segments, including diverse communities, it empowers lenders with vital intelligence to better serve their markets.

The transformative impact of Nossuli's work is evident in the results achieved by iEmergent's clients. For instance, one financial institution saw a 125% increase in lending to African Americans and significant overall growth within 12 months of implementing Mortgage MarketSmart. Another mortgage company in the mid-Atlantic saw its market share in majority Black and Hispanic census tracts steadily increase each month it used MarketSmart, helping it move from the #14 overall lender to the #11 overall lender in its market in only four months. Nossuli's commitment to driving industry change and meeting the home financing needs of underserved minority markets is further exemplified by initiatives such as DIVERSIFi, created in collaboration with the National Association of Minority Mortgage Bankers of America (NAMMBA), and her involvement in the Mortgage Bankers Association's CONVERGENCE initiative.

"I am honored to be recognized in this fashion among an exceptional cohort of Elite Women in Mortgage," said Nossuli. "This award is a testament to our entire team's commitment to helping lenders grow through market intelligence that illuminates overlooked business opportunities in any market, many of which are found in diverse communities that have a need for better access to financial services."

For a full list of winners, visit https://www.mpamag.com/us/best-in-mortgage/female-leaders-in-mortgage-elite-women-2023/449870.

About iEmergent:

Founded in 2000, iEmergent provides mortgage lending forecasts and analytics to the lending, housing and real estate industries. The company offers an extensive variety of forecast and market intelligence products, including Mortgage MarketSmart, a visualization tool that helps lenders quantify how mortgage markets will change. For more information, visit https://www.iemergent.com.

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Real Estate, Reports and Studies

Down Payment Resource Reports on Homebuyer Assistance Programs for People with Disabilities for Disability Pride Month

ATLANTA, Ga. -- In celebration of Disability Pride Month, Down Payment Resource (DPR) has issued a report on the 23 U.S. homebuyer assistance programs that are specifically designed to support people with disabilities and their family caregivers on their journey towards homeownership. While people with disabilities may be eligible for any of the 2,300-plus U.S. homebuyer assistance programs, this report sheds light on programs specially developed to promote accessibility and inclusivity for aspiring homeowners with disabilities.

For many people with disabilities, the dream of homeownership can feel out of reach. Financial limitations due to reduced employment opportunities or the need for additional support services and difficulty finding accessible housing are just a few common challenges.

An analysis of the 23 programs showcases the range of assistance available to promote homeownership for people with disabilities:

* Financial Assistance Range: The programs offer homebuyer assistance ranging from $10,000 to $109,986.

* Availability: The programs are offered in 12 states across the country.

* Family Caregiver Support: 11 programs specifically extend assistance to family caregivers of disabled individuals, recognizing their crucial role in the homeownership process.

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

* Layered Assistance: 14 programs can be combined with other homebuyer assistance programs, providing individuals with additional financial support and resources.

* Program Types: The homeownership assistance programs encompass various types, including four affordable first mortgages, 12 silent second mortgages, three soft seconds, one grant, one voucher program, one combined assistance program and one below market rate (BMR)/resale restriction program.

* Forgivable Programs: Four of the programs offer forgivable assistance, provided that all program conditions, such as owner-occupancy, are met, further alleviating financial burdens for aspiring homeowners.

"Homeownership provides individuals with disabilities and their caregivers with greater independence and empowerment," said Down Payment Resource founder and CEO Rob Chrane. "It allows them to have control over their living environment, make decisions regarding accessibility modifications and customize their homes to meet their unique needs. This autonomy fosters self-confidence, dignity and a greater sense of belonging within the community."

"My hope is that this report will raise awareness about the available programs that provide vital support to those who need it most," continued Chrane. "By promoting accessibility and inclusivity, we can help individuals with disabilities and their family caregivers unlock the door to homeownership and all the benefits it brings."

Select homebuyer assistance programs for people with disabilities are profiled at https://downpaymentresource.com/professional-resource/disability-pride-spotlight-on-homebuyer-assistance-programs-for-people-with-disabilities/.

Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/.

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE® database for programs with incentives for people with disabilities. The DOWN PAYMENT RESOURCE® database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,200 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With tool sets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Business, Free News Articles, Software

Premium Mortgage Corporation taps LenderLogix’s LiteSpeed to power Digital-First Mortgage Borrowing Experience

BUFFALO, N.Y. -- LenderLogix, a leading provider of mortgage point-of-sale and automation software for banks, credit unions, independent mortgage banks and brokers, today announced that Rochester, N.Y.-based Premium Mortgage Corporation (Premium Mortgage) is the latest mortgage lender to implement its streamlined point-of-sale (POS) platform LiteSpeed to provide borrowers with a white-labeled, digitally-driven mortgage application experience.

"As one of the top Independent Mortgage Banks in New York State, our borrower relationships are tremendously important to us. We strive to deliver the most seamless and borrower-centric service we can, and LenderLogix's technology plays a significant role in our ability to do that," said David Gates, Chief Operating Officer at Premium Mortgage. "LiteSpeed gives our borrowers a powerful, yet simplified digital entry point into our mortgage application process, which helps us differentiate ourselves in the current market and deliver a superior experience at a fraction of the cost."

Thanks to its integration with Encompass(r) by Ice Mortgage Technology, LiteSpeed streamlines Premium Mortgage's loan application process by guiding borrowers through singular, auto-advancing application questions using animated iconography and dynamic messaging. Once the application is complete, the system immediately presents borrowers with a customized needs list, a secure document upload link and more from their selected loan originator, thus ensuring that all the necessary documentation and information is collected up-front to support a smoother, more streamlined underwriting process.

In addition to LiteSpeed, Premium Mortgage also leverages LenderLogix's QuickQual and Fee Chaser tools in its front-end tech stack. With QuickQual, borrowers and their real estate agents can generate pre-approval letters on demand and run payment scenarios based on their pre-approved loan amount as determined by their loan officer. After completing their application via LiteSpeed, borrowers can quickly and easily pay all up-front costs, such as appraisal fee, through the secure Fee Chaser portal. The combination of these systems, which also integrate with Encompass, with LiteSpeed extends the digital environment Premium Mortgage already delivers to create a seamless experience from first point of contact through application and the early stages of the underwriting process.

"Premium Mortgage is a prime example of what an independent mortgage bank can achieve by taking a more thoughtful and strategic approach to tech investment," said LenderLogix Founder and CEO Patrick O'Brien. "LenderLogix is proud to play a part in Premium Mortgage's continued success by providing tech tools like LiteSpeed that address specific mortgage origination challenges that have gone unaddressed by other larger technology offerings."

About LenderLogix:

LenderLogix leverages the four decades of firsthand mortgage origination and real estate experience of its executive team to design customized software and APIs 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/.

RELATED LINKS:

https://www.lenderlogix.com/litespeed-point-of-sale

https://www.lenderlogix.com/quickqual-demo

https://www.lenderlogix.com/fee-chaser

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

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022