Business, Free News Articles, Reports and Studies

MCTlive! Lock Volume Indices: October 2022 Data

SAN DIEGO, Calif. -- MCT®, the leader in capital markets software and services supporting more lenders with hedging and pipeline management solutions than any other single provider, is pleased to present the MCTlive! Lock Volume Indices for October 2022. MCT Data represents a balanced cross section of several hundred lenders among retail, correspondent, wholesale, and consumer direct channels. A broad-based view of the entire market provides a more accurate picture of mortgage originations versus indices that are influenced by mega lenders. The October MCTlive! Lock Volume Indices is broken out by transaction type: purchase, rate/term refinance, and cash out refinance.

October MCTlive! Lock Volume Indices show that year-over-year total lock volume (-60.4 percent) continues to drop, as expected, when compared to the white-hot summer of 2021. While last month saw both the month-over-month rate/term refinance lock figure and purchase index increase, those figures were down 28.9 percent and 15.8 percent, respectively. Total mortgage rate locks by dollar volume decreased 17.1 percent month-over-month in October. Cash out refinances are down 27.6 percent month-over-month and from one year ago volume is down 87.2 percent, while rate/term refinance volume has dropped 93.2 percent from 2021. Please note that loan sizes were up 8.3 percent over the past year, with the average loan amount increasing from $292k to $317k.

It is important to note that MCT's rate lock activity indices are based on actual dollar volume of locked loans, not number of applications. Especially in a tight purchase market, MCT believes its methodology (using actual loans locked vs. applications) is a more reliable metric. There is a higher likelihood of having multiple applications per funded loan, and prequals do not convert at as high of a rate in the current market as has historically been the case - especially when applications are counted at the early stage of entering a property address.

:: INDEX VALUES TO END OCTOBER AS A PERCENTAGE BENCHMARKED TO THE START OF THE MONTH

Category | Month-Over-Month Index Value Change

Total: -17.08%

Purchase: -15.84%

Rate/Term Refinance: -28.92%

Cash Out Refinance: -27.57%

:: INDEX VALUE CHANGE YEAR-OVER-YEAR

Category | Year-Over-Year Index Value Change

Total: -60.36%

Purchase: -42.19%

Rate/Term Refinance: -93.20%

Cash Out Refinance: -87.21%

MCT will be publishing the MCTlive! Mortgage Lock Volume Indices monthly, intending the data to serve as an enduring informational tool for industry participants, analysts, and watchers.

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's offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world's first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive! ®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.

For more information, visit https://mct-trading.com/.

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

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

Business, Free News Articles, Software

FormFree names former ICE finance executive Patrick Rutherford as CFO to fuel its next stage in company growth

ATHENS, Ga. -- FormFree® today announced that it has appointed Patrick Rutherford, former finance executive at Intercontinental Exchange (NYSE: ICE), as chief financial officer (CFO). In his new role at FormFree, Rutherford will lead the organization's finance, accounting and compliance functions.

Prior to joining FormFree, Rutherford served as a leader within ICE's global finance function. As a financial leader at the publicly traded Fortune 500 company, Rutherford oversaw multiple aspects of global forecasting, planning and analysis. He was also a key participant in ICE's mergers and acquisitions (M&A) activities, including its strategic equity raise for the company's initial venture into digital assets and its more recent entry into the mortgage space.

Rutherford served as a finance leader at The Home Depot (NYSE: HD) before joining ICE. During this time, he gained a broad set of finance and strategy experiences while progressing professionally, earning formal recognition by the CEO and CFO for his achievements on multiple occasions.

Rutherford earned his bachelor's degree in finance from the University of Georgia in Athens, Georgia, and his master's degree in business administration from Carnegie Mellon University in Pittsburgh.

"I am thrilled to join FormFree, a company dedicated to revolutionizing how lenders come to understand people's ability to pay," said Rutherford. "As CFO, I will strive to further FormFree's drive of facilitating a more inclusive credit landscape while supporting lenders' business goals."

FormFree welcomes Rutherford to its executive team following years of financial growth. Notably, by helping mortgage lenders understand people's ability to pay (ATP®) with innovative, direct-source data retrieval methods, FormFree saw triple-digit revenue growth between 2017 and 2020, earning it a place on the 2021 Deloitte Technology Fast 500(tm) rankings.

"Patrick's breadth of innovative financial management experience at Fortune 500 companies like ICE and Home Depot made him the perfect choice for helping FormFree reach new heights," said FormFree Founder and CEO Brent Chandler. "We look forward to having Patrick at the helm of FormFree's financial growth."

About FormFree®

FormFree® is a market-leading fintech company whose revolutionary products AccountChek® and Passport® make for a more inclusive credit decisioning landscape by enabling lenders to understand people's true ability to pay (ATP®). To date, thousands of U.S. lenders and brokers have ordered millions of FormFree's patented verification reports representing trillions of dollars in loan verifications. FormFree delights borrowers and lenders with a paperless experience, dramatically reduces origination timelines and offers automated analysis and standardized delivery to lenders and investors using a secure ReissueKey®.

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

Follow FormFree on LinkedIn at: https://www.linkedin.com/company/formfree/.

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

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

Business, Free News Articles, Software

National Bankers Association Endorses Promontory MortgagePath for Mortgage Fulfillment Services and POS Technology

DANBURY, Conn. -- Leading digital mortgage and fulfillment solutions provider Promontory MortgagePath LLC today announced the National Bankers Association (NBA) has endorsed its mortgage fulfillment services and proprietary point-of-sale technology, Borrower Wallet®.

Founded in 1927, NBA has served as a voice for minority-owned banks. Its members include Black, Hispanic, Asian, Pacific Islander, Native American and women-owned banks across the country, all working to help low- and moderate-income communities that are underserved by traditional banks and financial service providers. NBA's endorsement recognizes Promontory MortgagePath's mortgage fulfillment service and POS technology for their ability to help minority depository institutions (MDIs) build their mortgage businesses.

Utilizing Promontory MortgagePath, NBA's member banks can offer a full suite of mortgage products without the need to invest in significant internal infrastructure while also lowering their origination costs. In addition, Promontory MortgagePath facilitates secondary market investor relationships to support clients' mortgage origination activities.

"Providing our member banks with technology and solutions that will help them increase access to financial services in minority communities is essential to our work," said Nicole Elam, president and CEO, NBA. "We are pleased to have successfully vetted Promontory MortgagePath, which will offer member MDIs shared access to a mortgage fulfillment solution necessary to making homeownership a possibility in communities aspiring to build generational wealth."

Founded by former U.S. Comptroller of Currency Gene Ludwig, Promontory MortgagePath began with a mission of empowering community banks to participate profitably in mortgage lending. Promontory MortgagePath's community development and minority-owned bank initiative is focused on increasing access to homeownership in underserved communities. Via the initiative, Promontory MortgagePath provides competitive pricing models, access to its user-friendly technology, dedicated U.S.-based teams of mortgage experts and robust strategies to help clients drive origination growth, with the overall goal of helping build long-term wealth in communities through increased homeownership.

"Minority depository institutions are critical conduits for financial services in the communities they serve," said Ludwig, founder and CEO of Promontory MortgagePath. "We are proud to have the endorsement of the National Bankers Association, which for nearly 100 years has supported these important institutions. Promontory MortgagePath is committed to working with the NBA to increase access to homeownership, which is central to wealth building in these communities and the American Dream."

The National Bankers Association joins the Community Development Bankers Association (CDBA) and American Bankers Association (ABA), as well as a growing list of state banking associations, in endorsing Promontory MortgagePath's services and technology.

About National Bankers Association

Founded in 1927 as the Negro Bankers Association, today, the association NBA has expanded its membership to also include Hispanic-American, Asian-American, Native American, and women-owned banks. Member banks are located in twenty-two states and the District of Columbia. Recognized as the voice of minority banking in the U.S., the NBA continues its role as chief advocate for these banks in the nation's capital. Through the decades, NBA has helped to shape public policy at the White House, on Capitol Hill, within the regulatory community and throughout the federal bureaucracy. For more information, visit https://www.nationalbankers.org/.

About Promontory MortgagePath LLC | NMLS ID 1532373

Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive fulfillment services, giving lenders the progressive technology and scalability required to profitably compete in today's rapidly changing residential mortgage market. Promontory MortgagePath's founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on the critical issues confronting financial services, and his companies are renowned for helping community lenders resolve their most pressing challenges. To learn more, visit https://www.mortgagepath.com.

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

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

Business, Free News Articles, Software

IDS expands mortgage eClosing platform with addition of eVault

SALT LAKE CITY, Utah -- Mortgage document preparation vendor International Document Services, Inc. (IDS), announced today that it has released its eVault, expanding the capabilities of its eClosing platform, Solitude Solution. With the addition of the eVault to Solitude Solution, lenders now have the ability to deliver documents, including eNotes, to partners though Mortgage Electronic Registration Systems, Inc. (MERS) eRegistry.

The IDS eVault is approved by Fannie Mae and Freddie Mac and includes secure eDelivery and eTransfer functionality for digital mortgage documents, allowing lenders to quickly and easily register eNotes with MERS. Prior its release, the eVault underwent a beta testing phase, during which IDS collected feedback on the product.

"As the mortgage industry continues to progress to a completely digital experience, IDS proudly delivers in-demand innovative eClosing technology backed by our industry-leading customer service support," said IDS Vice President and General Manager Mark Mackey. "Our eVault has undergone rigorous testing and a successful beta testing phase, ensuring it meets the high standards our clients have come to expect of every IDS product. We look forward to helping more lenders expand their eClosing and digital mortgage offerings with our expansive eClosing platform, Solitude Solution."

Solitude Solution includes a single sign-on function with multi-factor authentication, allowing lenders to create one login credential linked to the entire eClosing process. Once the eSign process for a closing package has been completed and the settlement agent has finalized the closing package, the eNote is automatically generated in the lender's eVault. This allows the lender to begin the processes of registering the eNote with MERS, sending the eNote to parties such as the master services via eDelivery and transferring the ownership of the eNote via eTransfer.

"Our customer support team is well-prepared to support our clients as they proceed with the eVault," said David Clement, Director of Operations. "We have a committee in place to ensure our team has the necessary training to fully support eVault operations and setup, and to work with any unexpected client needs and requests that may arise. I am confident that our lenders will be satisfied, both by the eVault itself and by the expert support behind it."

About IDS, Inc.

IDS, a Reynolds and Reynolds company, was founded in 1986 in Salt Lake City, Utah, and is a nationwide provider of mortgage documents and compliance. IDS services include eSignatures, closing documents, initial disclosures, document fulfillment and integration with leading loan origination systems and eClosing platforms. The IDS flagship doc prep solution, idsDoc, is recognized in the industry for its ability to be customized to meet specific lender needs, particularly in regard to major industry compliance changes.

Learn more: https://info.idsdoc.com/

Related link: https://info.idsdoc.com/

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

Awards and Honors, Business, Free News Articles

Promontory MortgagePath Founder and CEO Eugene Ludwig honored as top technology executive by Northern Virginia Technology Council

DANBURY, Conn. -- Promontory MortgagePath LLC, a leading provider of comprehensive digital mortgage and fulfillment solutions, announced today its Founder and CEO Gene Ludwig was named one of the top technology executives by the Northern Virginia Technology Council (NVTC) as part of its annual NVTC Tech 100 awards. Ludwig was recognized for his career-long efforts to address economic inequality through improved access to technology and a more fulsome understanding of the economic realities facing Americans today.

"While our nation continues to adapt to our new normal of living during a global pandemic, I am pleased that Virginia continues to be a leading tech hub of flourishing businesses and career opportunities. I am proud to announce that Gene Ludwig is a 2021 NVTC Tech 100 honoree. He is a key contributor to making our region a vibrant and inclusive place to live, work and learn," said Jennifer Taylor, president and CEO of NVTC.

Under Ludwig's direction, Promontory MortgagePath announced an initiative in October 2020 to support minority depository institutions (MDIs) and community development financial institutions (CDFIs) efforts to help these institutions overcome the steep barriers to entry in providing mortgages and expand access to credit and homeownership in underserved communities. While still in the early stages of rollout, Promontory MortgagePath's MDI initiative has already yielded significant results for its initial participants, with one institution on target to expand its mortgage operations into four additional markets within the first year of launch.

"I'm honored to be included in the NVTC Tech 100," Ludwig said. "Improving access to financial resources for all Americans has been one of the driving forces of my career, and in today's digitally driven environment, technology has become the great equalizer in addressing the economic disparities that have plagued underserved communities, particularly those of color."

As managing partner of venture capital firm Canapi Ventures, Ludwig guides the firm's strategic investment in early to growth-stage fintech companies with the ultimate goal of giving local bankers access to the most innovative technologies available today to improve the delivery of financial services to their communities.

In 2019, Gene founded the Ludwig Institute for Shared Economic Prosperity (LISEP). Its research includes new economic indicators for both unemployment, issued monthly, and earnings, issued quarterly. These statistics aim to provide policymakers and the public with a more transparent view into the economic situation of all Americans as compared with traditionally relied upon metrics. LISEP also seeks to guide and support policy initiatives that increase opportunities for struggling Americans.

"By providing a more realistic view of Americans' economic struggles, we can be more surgical and specific in the solutions we apply to address those challenges," Ludwig added.

Per the NVTC's announcement regarding the awards, "This year's program attracted 130 nominations across three award categories: Company, Executive and NextGen Leader...The final NVTC Tech 100 Award list comprises 64 tech companies, 33 executives, and three emerging leaders - each consistently demonstrating dedication, vision and innovation."

Honorees will be celebrated at the event on December 8, 2021, at The Ritz-Carlton, Tysons Corner. To view the full list of this year's honorees, visit https://www.nvtc.org/NVTC/News/News_Articles/NVTC_Announces_the_2021_Tech_100_Honorees.aspx.

About the Northern Virginia Technology Council

The Northern Virginia Technology Council (NVTC) is the trade association representing the national capital region's technology community. As one of the nation's largest technology councils, NVTC serves companies from all sectors of the industry, from small businesses and startups to Fortune 100 technology companies, as well as service providers, academic institutions, and nonprofit organizations. Nearly 500 entities make up the NVTC membership and look to the organization as a resource for networking and educational opportunities, peer-to-peer communities, policy advocacy, industry promotion, fostering of strategic relationships, and branding of the region as a major global technology center. Visit NVTC at http://www.nvtc.org.

About Promontory MortgagePath LLC | NMLS ID 1532373

Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive fulfillment services, giving lenders the progressive technology and scalability required to profitably compete in today's rapidly changing residential mortgage market. Promontory MortgagePath's founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on the critical issues confronting financial services, and his companies are renowned for helping community lenders resolve their most pressing challenges. To learn more, visit https://www.mortgagepath.com.

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

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

Business, Free News Articles

Promontory MortgagePath Promotes Dean McCall into its C-Suite as Chief Information Officer

DANBURY, Conn. -- Promontory MortgagePath LLC, a leading provider of comprehensive digital mortgage and fulfillment solutions, announced today it has promoted Dean McCall from managing director of development operations and data to chief information officer (CIO).

"Dean's industry experience in data management and information coupled with his five-year tenure at Promontory MortgagePath make him the perfect candidate for our CIO role," said Gene Ludwig, founder and CEO at Promontory MortgagePath. "He brings an executive-level engineering and information technology focus to the important CIO position. He will help us continue to grow and constantly improve upon our technology so we can exceed our clients' expectations."

As CIO, McCall will affect broad decision-making beyond technology and into strategic positioning, Promontory MortgagePath's client service model and other company initiatives. McCall's expertise in cloud infrastructure blueprints, data architecture and the mortgage industry has been instrumental to Promontory MortgagePath's growth and success. Prior to joining the organization in 2015, McCall worked in engineering, technology consultation and warehouse architecture with Oracle, Aurora Loan Services and Redwood Trust. McCall was also recognized by industry trade publication HousingWire in its 2021 Insiders awards program.

"Over the last year, Promontory MortgagePath has strategically aligned its internal structure to address and prepare for anticipated growth, from sales and fulfillment teams to management structures," said Debora Aydelotte, chief operating officer at Promontory MortgagePath. "As managing director of development operations and data, Dean played a critical role in the success of that realignment. We're all delighted to observe Dean's growth within the company and welcome him into this new position."

About Promontory MortgagePath LLC | NMLS ID 1532373

Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive fulfillment services, giving lenders the progressive technology and scalability required to profitably compete in today's rapidly changing residential mortgage market. Promontory MortgagePath's founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on the critical issues confronting financial services, and his companies are renowned for helping community lenders resolve their most pressing challenges.

To learn more, visit https://www.mortgagepath.com.

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

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

Business, Free News Articles

Fintech provider Promontory MortgagePath’s digital mortgage and fulfillment solutions receive renewed ABA endorsement

DANBURY, Conn. -- Leading digital mortgage and fulfillment solutions provider Promontory MortgagePath LLC announced the renewal of its product endorsement by the American Bankers Association (ABA). Promontory MortgagePath combines extensive mortgage operations and compliance expertise with industry-leading mortgage technology to provide efficient, cost-effective mortgage processing and fulfillment services to lenders of all sizes. ABA's endorsement, dating back to 2018, recognizes Promontory MortgagePath's tech-enabled fulfillment solutions for their ability to help its members reduce mortgage origination costs while allowing them to retain a full mortgage product suite.

The endorsement and subsequent renewal are a result of ABA's thorough and ongoing due diligence process, which identifies proven, reliable solutions while saving banks time and money. When deciding whether to endorse a product, ABA engages with bank leaders to identify gaps in their current offerings and opportunities to expand services, works with industry-specific consultants and enlists ABA staff experts to guide the Request for Proposal (RFP) process and validate the research with bankers. ABA is also committed to reviewing each Endorsed Service Provider to ensure it is still providing a valuable service to ABA members and their customers.

"With Promontory MortgagePath's solution, banks can leverage their strong brand and local market knowledge while deploying a digital platform and comprehensive fulfillment services," said ABA Chief Member Engagement Officer James Edrington. "It's a 'pay-as-you-go' model, which boosts profitability and efficiency, and ABA members enjoy an exclusive 10% discount. In a recent monthly billing cycle, one ABA member alone saved $3,820."

"We've enjoyed tremendous growth in 2021, and our strategic relationship with ABA is a key contributor," said Paul C. Katz, managing director of bank relations at Promontory MortgagePath. "This momentum stems from helping our clients win in an intensely competitive mortgage marketplace with innovative tech, expansive product options and the agility to adapt to changing economic conditions. The loan is always originated and closed in the client's name, which maximizes profitability while maintaining a high-touch customer experience."

To meet ABA's standards for endorsement, a company must offer reliability, sustainability, validity, sound risk management, outstanding data and information security and rigorous quality and customer service standards. The initial due diligence process lasts six to nine months and includes analysis by industry experts and validation by bankers. In addition to the ongoing due diligence and annual reviews, ABA also publishes a due diligence report on each ABA Endorsed Provider, which includes insights gained during the due diligence process. These reports are available free of charge to ABA members.

Key features and benefits of Promontory MortgagePath's digital mortgage and fulfillment solution include:

* The proprietary point-of-sale (POS) Borrower Wallet(r), which automates document collection, provides a secure digital portal to collect and store important loan documents and delivers a transparent process to the borrower with real-time status updates;
* Fulfillment models designed to support community banks' varying origination needs;
* Milestone pricing that explicitly aligns costs with services rendered throughout the loan process;
* An in-house compliance team to ensure clients' origination activities are being executed to the highest and best mortgage compliance standards possible; and
* Access to an extensive investor network and support for existing investor relationships, resulting in increased profitability.

About Promontory MortgagePath LLC | NMLS ID 1532373

Promontory MortgagePath is a fast-growing team of passionate problem solvers on a mission to fundamentally change the way lenders approach their mortgage business. The company combines an intuitive, collaborative digital mortgage platform with modern, comprehensive fulfillment services, giving lenders the progressive technology and scalability required to profitably compete in today's rapidly changing residential mortgage market. Promontory MortgagePath's founder, former U.S. Comptroller of the Currency Gene Ludwig, is widely recognized as a visionary thinker on the critical issues confronting financial services, and his companies are renowned for helping community lenders resolve their most pressing challenges. To learn more, visit https://www.mortgagepath.com.

About American Bankers Association

The American Bankers Association is the voice of the nation's $22.8 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard nearly $19 trillion in deposits and extend $11 trillion in loans.

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

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

Alliances and Partnerships, Business, Free News Articles, Software

FormFree integration with OpenClose enhances lending experience with quick and easy borrower-permissioned data verification

ATHENS, Ga. -- FormFree® Founder and CEO Brent Chandler today announced the availability of its AccountChek® financial data verification service within OpenClose®, the leading fintech provider of mortgage software solutions for banks, credit unions and mortgage lenders. The integration embeds AccountChek into OpenClose's ConsumerAssist(tm) Enterprise POS and LenderAssist(tm) LOS, giving borrowers the freedom to electronically permission verification data with ease when applying for a mortgage loan.

AccountChek streamlines the lending process by empowering borrowers to electronically permission financial account and payroll data, thereby enabling lenders to verify asset, income, employment and rental history in a combined, underwriter-friendly report. By integrating AccountChek with OpenClose's lending solutions, lenders can delight borrowers with a modern, paperless lending experience while expediting time-to-close, reducing loan production costs and mitigating the risk of fraud.

FormFree's AccountChek verification of asset (VOA) reports are eligible for representations and warranty relief when assets are validated through Fannie Mae's® Desktop Underwriter® (DU®) validation service and Freddie Mac's Asset and Income Modeler (AIM). Additionally, FormFree's VOA reports can be used to leverage DU's "positive rent payment history" feature - which is designed to extend sustainable homeownership opportunities to renters with little or no credit history - without disrupting lender workflows.

"OpenClose's rapid market expansion made partnering with them a must," said FormFree Founder and CEO Brent Chandler. "Our goal is to make the process and user experience benefits of direct-source borrower-permissioned data verification available to every lender and broker originating mortgage loans."

"We are proud to offer our lender customers a more unified borrower experience and improved operational efficiency through AccountChek's integration with our full suite of origination solutions," said OpenClose CEO and CTO Jason Regalbuto. "Our partnership with FormFree eliminates a bottleneck in the origination process for many lenders, freeing them to enjoy the immediate ROI of faster turn times, greater repurchase certainty and happier customers."

About FormFree:

FormFree® is a market-leading fintech company whose revolutionary products AccountChek® and Passport® make for a more inclusive credit decisioning landscape by enabling lenders to understand people's true ability to pay (ATP®). Its vision is to leverage source data and data-driven intelligence to usher in a new era of transparent, fair and liquid credit markets. To date, thousands of U.S. lenders and brokers have ordered millions of FormFree's patented verification reports representing trillions of dollars in loan verifications.

FormFree delights borrowers and lenders with a paperless experience, dramatically reduces origination timelines and offers automated analysis and standardized delivery to lenders and investors using a secure ReIssueKey®. For more information, visit https://www.formfree.com/ or follow FormFree on LinkedIn.

About OpenClose:

Founded in 1999, OpenClose is the preeminent fintech provider that developed the mortgage banking industry's first SaaS-based lending automation software platform. Today, the company has expanded to become an award-winning, comprehensive loan origination software suite that slashes the cost to manufacture loans by up to 40 percent, reduces processing and underwriting cycle times by up to 50 percent, and requires minimal support to install and manage.

OpenClose is the only vendor in the industry able to offer a true end-to-end, omni-channel, 100 percent browser-based, workflow-driven platform that effectively consolidates the digital POS, LOS, PPE and BI functions via a single provider, with easy access from any browser or mobile device. For more information, visit https://www.openclose.com.

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

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

Alliances and Partnerships, Business, Free News Articles, Software

Mortgage Coach and HomeBinder partner to engage homeowners in actively managing home financing across the homeownership lifecycle

IRVINE, Calif. -- Mortgage Coach, the mortgage industry's leading platform enabling lenders to create digital and accurate home loan options for consumers, today announced an integration with HomeBinder, a centralized home management platform that keeps homeowners connected with mortgage lenders, Realtors and other authorized professionals. Powered by Mortgage Coach's Total Cost Analysis (TCA) presentations, the integration enables homeowners to compare refinance and home equity scenarios directly from the HomeBinder home management portal.

Mortgage lenders partnering with HomeBinder provide homeowners with a complimentary digital home management platform, or HomeBinder, upon closing of the loan. HomeBinder communicates with homeowners on behalf of the lender, centralizing all aspects of home management such as maintenance reminders, document storage, appliance recalls and home value. The integration with Mortgage Coach enables homeowners to compare how their current mortgage would perform against a standard refinance and a cash-out refinance at 15- and 30-year terms with the trusted insight and accuracy of Mortgage Coach TCAs. Through the integration, homeowners are also empowered with an interactive financial modeling experience. For instance, homeowners can adjust variables to see how applying additional money toward their monthly principal would shorten the length of their mortgage and save money on interest.

To help loan originators keep borrowers engaged in the home financing process over time, rule-based automation prompts HomeBinder to periodically invite homeowners to review their financing with a refreshed Mortgage Coach TCA illustrating how much money they could save by taking advantage of current interest rates. Additionally, loan originators can proactively engage homeowners by uploading custom TCA comparisons into the client's HomeBinder, allowing them to demonstrate the benefit of a future transaction or reinvestment.

"Educating borrowers inspires a level of trust that translates into increased conversion and borrower referrals, and automation ensures every fundable opportunity has a differentiating mortgage advice presentation," said Mortgage Coach President Joe Puthur. "This depth of integration allows lenders and depositories to create millions of HomeBinders that now include the proven transparency and influence of our TCA experience."

"Celebrity Home Loans is committed to matching each customer with the perfect mortgage for their needs, providing education and delivering value every step of the way," said Celebrity Home Loans Chief Strategy Officer Danny Horanyi. "The integration between Mortgage Coach and HomeBinder helps us honor our promise to empower customers long after closing."

"Our true north is providing homeowners a singular hub for managing all aspects of their home - and one important facet is financing," said HomeBinder Chief Strategy Officer Pete Paglia. "Integrating with Mortgage Coach helps keep homeowners engaged with lenders long after closing by introducing the concept of maintaining and improving not just the home itself, but also the home loan."

Mortgage Coach powered lenders and individual members can learn more about activating the HomeBinder integration by visiting https://www.mortgagecoach.com/homebinder or contacting their customer success representative.

About Mortgage Coach:

Mortgage Coach is the only platform that allows mortgage lenders to create digital and accurate home loan comparisons for consumers. With the Total Cost Analysis presentation, lenders can create a multi-option comparison, offering the borrower a more personalized digital experience. This level of transparency has revolutionized the rate quoting and pricing process allowing borrowers to make faster, more informed mortgage decisions and ultimately, increase production and pipeline conversion for lenders of any size. For more information on how to start using borrower education as a competitive advantage, please visit https://www.mortgagecoach.com.

About HomeBinder:

HomeBinder is a home management platform that makes maintaining a home's value easy while improving relationships between homeowners and the businesses that serve them. Unlike traditional leave-behinds like business cards and refrigerator magnets, HomeBinder maintains an ongoing digital connection with homeowners as they manage their data, documents and relationships over time. Founded in 2015, HomeBinder is a venture-backed Techstars Boston '19 company headquartered in Burlington, Massachusetts. For more information, visit https://pages.homebinder.com/.

Related link: http://mortgagecoach.com/

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

Business, Free News Articles, Real Estate, Software

Global DMS’ EVO® enhances efficiency and mobility with Amazon’s Alexa Voice Command Interface

LANSDALE, Pa. -- Global DMS, the leading provider of cloud-based real estate appraisal management software, recently announced that its next-generation EVO platform is now voice-enabled, providing lenders access to key functionality and up to the minute information of their entire pipeline with Amazon's Alexa voice control - making EVO the first and only appraisal management software to provide this capability in the mortgage industry.

The Alexa Skill, called MyEVO™, allows EVO clients to securely access all appraisal information in their accounts through all Alexa capable devices, like Echo, Echo Dot, Echo Tap and the mobile Alexa apps for iPhone and Android by simply saying, "Alexa, Open MyEVO."

Users can then ask Alexa, Amazon's artificial intelligence that powers Alexa-enabled hardware and its associated products, to launch the MyEVO skill that enhances the virtual assistant's ability to conduct appraisal management tasks, such as ordering an appraisal, providing appraisal status updates, and delivering EVO's latest product enhancements and company news.

"At Global DMS, we are continually pushing the limits of technology to bring exceptional value to our clients and make the dream of Digital Mortgage a reality," said Global DMS® CEO, Vladimir Bien-Aime. "As artificial intelligence continues to evolve, we are committed to investing in voice technology and other AI powered voice assistants that enable us to provide an experience that is conversational and attuned with our customers' lifestyles. This first of its kind solution will enhance our customer's workflow and communications and allow them to work smarter when and where they wish, with just the sound of their voice."

EVO, the industry's most advanced cloud-based appraisal management platform, was designed to be both exceptionally intuitive and powerful enough to support a completely automated appraisal management workflow. The EVO platform centralizes and simplifies the process for lenders that utilize multiple AMCs, manage their own panel, or a combination of both. EVO allows authorized administrative users to instantly make changes to the platform's workflow, communications, vendors, and assignment logic to ensure success in an everchanging competitive mortgage market.

Learn more about EVO at: https://www.globaldms.com/evo-residential

About Global DMS:

Founded in 1999 and headquartered in Pennsylvania, Global DMS is a leading provider of cloud-based commercial and residential real estate appraisal management software. The company's solution set is cost effectively delivered on a software-as-a-service (SaaS) transactional basis that ensures compliance adherence, reduces costs, increases efficiencies, and expedites the entire real estate appraisal process. Global DMS' solutions include its EVO-Res™ platform for residential lending, EVO-C™ platform for commercial lending, SnapVal™ appraisal pricing solution, AVMs, and the MISMO Appraisal Review System (MARS®).

For more information, visit https://www.globaldms.com/ or call (877) 866-2747.

About Amazon:

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth's Most Customer-Centric Company, Earth's Best Employer, and Earth's Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit https://www.aboutamazon.com/ and follow @AmazonNews.

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

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