Business, Free News Articles, Software

Cloudvirga Names Stephen DeSantis as Chief Financial Officer

IRVINE, Calif. -- Cloudvirga(TM), developer of intelligent mortgage point-of-sale (POS) platforms, has appointed Steve DeSantis as its new chief financial officer. A seasoned technology finance executive, DeSantis will be responsible for driving Cloudvirga's financial strategies to accelerate its growth. He will report to Cloudvirga's recently appointed CEO Michael Schreck.

DeSantis has more than two decades of financial management experience in the technology sector. Over the course of his career, he has raised more than $250 million, taken two companies public and sold three companies.

Most recently, DeSantis was CFO for ShiftPixy(R) (NASDAQ:PIXY), a disruptive human capital management services provider revolutionizing employment in the Gig Economy. ShiftPixy completed its initial public offering in June.

Prior to joining ShiftPixy, DeSantis was CFO for Predixion Software, a predictive analytics software company acquired by Greenwave Systems and Jvion Technologies. He has also held CFO roles for data warehouse solutions developer DATAllegro (acquired by Microsoft) and inventory management solutions providers Nexiant and TCI Solutions (acquired by Retalix).

"Steve's track record of success in growing tech companies is truly impressive. He's the ideal leader to steer Cloudvirga's financial strategy as we continue to grow rapidly," said Cloudvirga CEO Michael Schreck.

"A unique combination of mortgage expertise and technical chops enables Cloudvirga to deliver a best-in-class digital mortgage platform that three of the country's top eight lenders trust," said DeSantis. "My focus will be on mapping a financial strategy that positions Cloudvirga for continued exponential growth."

Just last week, Cloudvirga announced the addition of five top-30 lenders to its client roster. The company has raised more than $25 million in two funding rounds and has the support of both leading venture capital firms and some of the industry's largest lenders.

DeSantis is a Certified Public Accountant (CPA) and holds a bachelor's degree in business and accounting and a master's degree in business administration, both from the University of Southern California (USC) Marshall School of Business. He spent his early career as a staff auditor for Coopers & Lybrand.

About Cloudvirga(TM):

Cloudvirga's intelligent mortgage point-of-sale (POS) platforms uniquely combine a world-class borrower experience with a truly digital lender platform that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Founded by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's initial customer roster includes eight of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $25 million from some of the country's top lenders and venture capital firms.

For more information, visit http://www.cloudvirga.com/ or follow Cloudvirga on LinkedIn https://www.linkedin.com/company/7577062/.

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*Photo Caption: Cloudvirga has appointed Steve DeSantis as its new chief financial officer.

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Business, Free News Articles, Software

OpenClose Adds New Hires to its Software Development Team

WEST PALM BEACH, Fla. -- OpenClose(R), a multi-channel loan origination system (LOS) and mortgage software solutions provider, announced that it hired four senior developers to arm the company with additional resources to architect new products and enhance existing solutions.

Gary Meink was recruited from D+H and Mortgagebot where he spent more than eleven years working to help build out and enhance various components of the LOS and point-of-sale solutions. He has extensive industry experience working at a number of different mortgage technology firms that are integrated with the OpenClose platform.

Beau D'Amore joins OpenClose, previously working as a .NET engineer at RADIAL (formerly eBay Enterprises), a provider of omni-channel eCommerce technology and operations solutions. D'Amore holds broad experience working with leading-edge, highly contemporary technology both as a software developer and architect.

Jamal Waring also joins OpenClose, previously serving as a senior application developer at several multi-faceted organizations. Waring has a wide range of experience working with different programming languages, software engineering tools, mobile technologies and product development. In particular, he has been the lead architect and developer on numerous projects for custom built back-office systems, front-end applications, web portals, complex workflows, process automation, data analytics, reporting and more.

In addition, Christopher Price was added to the OpenClose development team, providing vast experience as a highly skilled software engineer with an emphasis in security and enterprise development. He is well-versed in SaaS and Cloud architecture and development as well as responsive front-end design. Christopher has worked on many large-scale projects involving tightening security levels and vulnerability prevention, taking the lead role in project planning and software development.

"We are pleased to welcome Gary, Beau, Jamal and Christopher to our development team and expect them to have an immediate impact on advancing our mortgage software solutions," stated Jason Regalbuto, CEO and CTO at OpenClose. "OpenClose is committed to constantly innovating, adding new features/functionality to products and expanding our overall solution suite. The addition of top-tier development talent gives us the bandwidth to continue to enhance existing products and develop new solutions, delivering increased value to our customer base."

Earlier this year OpenClose reported an unprecedented 30 percent growth rate from 2015 to 2016 and is currently on track to have another impressive year in 2017. The primary growth driver is an increasing demand for its 100 percent web-based, multi-channel LenderAssist(TM) LOS from lenders that are dissatisfied with their existing platform and poor customer support.

All four new hires will work on the LenderAssist LOS as well as other modular mortgage software solutions offered by OpenClose to mortgage bankers, credit unions, banks, conduit aggregators and other lending entities. As it continues with expansion efforts, OpenClose is also hiring integration specialists, technical support staff, enterprise sales associates and a business development executive.

About OpenClose:

Founded in 1999 and headquartered in West Palm Beach, Florida, OpenClose(R) is a leading enterprise-class, multi-channel loan origination system (LOS) mortgage software solutions provider that cost effectively delivers its platform on a software-as-a-service (SaaS) basis. The company provides a variety of 100 percent web-based solutions for lenders, banks, credit unions, 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, thus avoiding the problems that often accompany assembling best-of-breed applications or acquiring disparate technologies in an effort to create an end-to-end platform.

The company 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

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Business, Free News Articles, Software

Five Top-30 Lenders Choose Cloudvirga’s Digital Mortgage Platform in Last 100 Days

IRVINE, Calif. -- Cloudvirga(TM), developer of intelligent mortgage point-of-sale (POS) platforms, has signed five of the nation's top 30 non-bank lenders in the last 100 days. The new customers collectively originate over $100 billion in loans annually. The announcement follows the firm's addition of Michael Schreck as CEO in June and the completion of a $15 million Series B funding round led by Blackstone Group portfolio company Incenter in March.

"We are experiencing tremendous momentum as the industry's leading lenders come to know Cloudvirga and experience for themselves the power of a digital mortgage platform that attacks back-office costs," said Cloudvirga co-founder and COO Kyle Kamrooz.

"Our clients range from classic retail mortgage companies to lenders focused on direct-to-consumer loans and include some of the country's biggest originators of government loans and other specialty products," added Kamrooz. "What these diverse lenders have in common is a desire to work with a digital platform like Cloudvirga that delivers proven, scalable savings."

For American Financial Network (AFN), the decision to deploy Cloudvirga's technology boiled down to the company's desire to provide a frictionless home-buying experience for not only its tens of thousands of customers, but also for its 750 loan officers.

"We surveyed the digital platforms available in the marketplace and found Cloudvirga to be the leader in truly tackling the problems of mortgage cost and back-end inefficiency while still providing a terrific consumer experience," said John Sherman, president of AFN.

Cloudvirga re-engineers and automates the mortgage workflow to give consumers control over the loan application process and accelerate the mortgage sales funnel for loan officers. The company's digital mortgage technology delivers underwriter-ready loan applications with unmatched speed and quality, resulting in massively reduced costs to produce.

About Cloudvirga(TM):

Cloudvirga's intelligent mortgage point-of-sale (POS) platforms uniquely combine a world-class borrower experience with a truly digital lender platform that radically cuts overall loan costs, increases transparency and reduces the time to close a loan. Founded by top fintech veterans with a track record of building successful mortgage technologies, Cloudvirga's initial customer roster includes eight of the top 40 non-bank mortgage originators. To date, Cloudvirga has raised over $25 million from some of the country's top lenders and venture capital firms.

For more information, visit http://www.cloudvirga.com or follow cloudvirga on LinkedIn.

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Business, Free News Articles

‘The Property Man’ Bob Massi to Speak on HECM for Purchase Loan Program During Special Session at ReverseVision UserCon 2018

SAN DIEGO, Calif. -- ReverseVision, the leading provider of technology and training for the Home Equity Conversion Mortgage (HECM) industry, today announced that legal analyst and cable news mainstay Bob "The Property Man" Massi will address attendees of RV UserCon 2018 in a session focused on the HECM for Purchase loan program.

Massi's presentation, part of ReverseVision's third annual user conference held February 6-8 at the Kona Kai Resort and Spa in San Diego, will provide attendees with a brief overview of the often-misunderstood HECM for Purchase loan program and deliver guidance on how to market this unique product to the qualified borrowers who stand to benefit from it. Following his opening address, Massi will moderate a panel discussion in which seasoned HECM for Purchase originators will share their personal experiences, success stories and actionable tips for building a successful HECM for Purchase business.

HECM for Purchase is an FHA-insured program through which qualified borrowers can use the equity from the sale of a previous residence to buy their next primary home and take out a HECM loan with no required monthly principal-and-interest payment.

"Over the course of three seasons hosting 'The Property Man' on Fox Business Network, I've had the opportunity to interview dozens of mortgage experts and homeowners about their experiences - both good and bad - with reverse mortgages," said Massi. "Today's HECM for Purchase is a revolutionary loan program that is altogether different from reverse mortgages of the past. I look forward to sharing my unique perspective on why this loan product should be available to more people and how to go about getting the word out."

"Millions of consumers around the country trust Bob Massi for his expert analysis of legal issues, housing trends, political issues and more. Mr. Massi has been delivering on-the-ground coverage of real estate news since the days of the financial crisis, and we couldn't be more pleased to enhance our conference programming with his unique perspective on the HECM for Purchase program," said ReverseVision Vice President of Sales and Marketing Wendy Peel.

A high-profile legal analyst with more than three decades of courtroom experience and 20 years in cable news, Massi's weekly television show "The Property Man" (Fridays at 8:30 pm ET on Fox Business Network) provides viewers with invaluable insight and expertise on the trends of a constantly shifting real estate market. Massi also appears on the "Fox & Friends" morning news show every Thursday covering real-time legal and real estate issues and hosts the weekly "Inside the Law" segment on KVVU-TV in Las Vegas. He is the author of "People Get Screwed All the Time: Protecting Yourself from Scams, Fraud, Identity Theft, Fine Print and More" and runs his own law firm, Massi & Massi, in Nevada.

Early-bird registration:

Early-bird registration for RV UserCon 2018 ends November 15. To apply for corporate sponsorship or speaking opportunities, contact: connect@reversevision.com.

About ReverseVision:

ReverseVision, Inc. is the leading provider of technology and training for Home Equity Conversion Mortgage (HECM) origination. With nearly 10,000 active users, ReverseVision technology is used by 10 of the top-ten reverse mortgage lenders and supports more HECM transactions than all other systems combined. The company's comprehensive product suite also includes HECM sales and education tools and a dedicated professional services team. ReverseVision partners with some of the finest and fastest-growing banks, credit unions and lending organizations in the United States to provide its HECM technology to brokers, correspondents, lenders and investors.

A 2017 HousingWire TECH100(TM) company, ReverseVision has also been recognized in Deloitte's Technology Fast 500(TM) listing. ReverseVision's annual user conference, the only event of its kind in the industry, brings together more than 200 lenders, vendors and educators each year to advance HECM lending. The company continues to build on its technology's pioneering capabilities with frequent enhancements aimed at boosting users' HECM volume, workflow efficiency and data analysis capabilities.

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

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Business, Free News Articles

ReverseVision Announces STRATMOR Group’s Jim Cameron as UserCon 2018 Day One Special Session Guest Speaker

SAN DIEGO, Calif. -- ReverseVision, the leading provider of technology and training for the Home Equity Conversion Mortgage (HECM) industry, today announced that STRATMOR Group Senior Partner Jim Cameron will be the Day 1 Special Session guest speaker for its third annual user conference. The ReverseVision UserCon 2018 will be held February 6-8, 2018, at the Kona Kai Resort and Spa on San Diego's Shelter Island.

A STRATMOR Group senior partner since 1999, Cameron has been engaged in the mortgage industry for over three decades. Serving more than 250 companies, STRATMOR Group is a mortgage industry advisory firm delivering data-driven consultative services for lender CEOs and senior executives on growth and profitability improvements, risk reduction or positioning for acquisition or sale.

Cameron's presentation at UserCon 2018 will explore the HECM as an element of a Generational Lending(TM) strategy, including actionable data and insights to guide mortgage lenders in the formulation of business strategies and operational best practices for a successful HECM lending unit.

"Lenders that want to commence or improve their performance in HECM lending will gain valuable insights from data related to the product's regulatory repositioning, volume and demand, productivity, profitability and marketing," said Jim Cameron. "Data-driven mortgage lending consulting is what we do at STRATMOR Group, so I am eager to interact with ReverseVision customers and other businesses that are interested in learning more about the opportunities presented by reverse mortgage lending."

UserCon 2018 will deliver three days of educational programming, evidence-based sales training, software demonstrations, networking and vendor exhibits designed for users of ReverseVision technology who are new to the Home Equity Conversion Mortgage (HECM) industry, as well as practiced HECM loan originators and operations personnel:
* The conference will commence on Tuesday, February 6, with the premiere of ReverseVision's Generational Lending(TM) session, an interative introduction to HECM lending designed for industry newcomers. A cocktail welcome reception for all attendees will follow at 6 p.m.
* Wednesday's programming will include expert-led sessions for loan originators, in-depth learning opportunities with ReverseVision's technology and wholesale partners and special session address by STRATMOR Group's Jim Cameron. The evening will close with an island-themed networking party featuring food, drinks and entertainment.
* Thursday's sessions will equip HECM lenders with the tactics they need to succeed - and even gain competitive edge - in the midst of widescale industry changes.

"We are honored to have Jim Cameron as a special session speaker since UserCon 2018 is primarily about delivering unique, worthwhile and practical guidance for lenders that want to create highly-efficient and productive HECM operations by leveraging a Generational Lending business strategy coupled with ReverseVision product solutions," said ReverseVision Vice President of Sales and Marketing Wendy Peel. "STRATMOR Group has a reputation for getting to the heart of the matter with relevant data and innovative insights, which will benefit UserCon 2018 attendees in optimizing their investment in ReverseVision technology."

ReverseVision's flagship loan origination system (LOS), RV Exchange (RVX), is used by each of the top-ten HECM lenders. In addition to RVX, the company offers customized client services through RV Pro Services (RVPS); proprietary data insights and web-based sales and marketing tools through RV Sales Accelerator (RVSA); and live and online training courses through RV University (RVU).

Early-bird registration at https://www.reversevision.com/usercon2018 is available through November 15. For corporate sponsorship or speaking opportunities, contact connect@reversevision.com.

About ReverseVision:

ReverseVision, Inc. is the leading provider of technology and training for Home Equity Conversion Mortgage (HECM) origination. With nearly 10,000 active users, ReverseVision technology is used by 10 of the top-ten reverse mortgage lenders and supports more HECM transactions than all other systems combined. The company's comprehensive product suite also includes HECM sales and education tools and a dedicated professional services team. ReverseVision partners with some of the finest and fastest-growing banks, credit unions and lending organizations in the United States to provide its HECM technology to brokers, correspondents, lenders and investors.

A 2017 HousingWire TECH100(TM) company, ReverseVision has also been recognized in Deloitte's Technology Fast 500(TM) listing. ReverseVision's annual user conference, the only event of its kind in the industry, brings together more than 200 lenders, vendors and educators each year to advance HECM lending. The company continues to build on its technology's pioneering capabilities with frequent enhancements aimed at boosting users' HECM volume, workflow efficiency and data analysis capabilities.

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

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Business, Free News Articles

Mid America Mortgage to Purchase Assets from Two Oklahoma Lenders

ADDISON, Texas -- Mid America Mortgage, Inc. (Mid America) announced it has signed a letter of intent to purchase the assets of Oklahoma City-based American Southwest Mortgage Corp. and an affiliated firm, American Southwest Mortgage Funding Corp. As part of the agreement, Mid America will incorporate American Southwest's operations into Mid America's mortgage platform and secure an interest in their respective pipelines and select assets. Further, Mid America will also offer employment to loan production staff members from each organization.

Pending a signed agreement, the transfer of operations and assets should be completed by December 1. Financial terms of the proposed agreement have not been disclosed.

"Mid America's commitment to delivering a faster, more efficient mortgage process via technology has put us in a unique position to partner with firms like American Southwest to revitalize and streamline their operations, which ultimately provides their customers with better service," said Mid America Owner and CEO Jeff Bode. "As we make this transition, we do so with an eye toward minimizing disruption to American Southwest's existing customers while also migrating its pipeline to our fully digitized origination and closing process."

As part of the agreement, American Southwest will transition the pipelines of both entities to the Mortgage Machine platform, Mid America's proprietary loan origination system (LOS), and begin executing eClosings and eNotes. Further, American Southwest's retail channels will have immediate access to Mid America's digital mortgage approval and closing platform Click n' Close, allowing them to take advantage of the faster turn times and lower costs Click n' Close provides. Third-party channel access to Click n' Close will be made available at a later date. Click n' Close was recently announced as the Official Mortgage Provider of NASCAR(r).

"Joining forces with a progressive, highly reputable lender like Mid America presents a unique opportunity to unite two organizations with similar views on the need to combine superior customer service with user-friendly technology," said Richard Carrington, president of American Southwest. "Furthermore, Mid America will able to leverage our footprint in markets not currently serviced by Mid America to expand its outreach to a new and diverse customer base that clearly compliments the launch of Click n' Close."

About Mid America Mortgage, Inc.:

Mid America Mortgage, Inc., Addison, Texas, is a multi-state, full-service mortgage lender serving consumers and mortgage originators through its retail, wholesale and correspondent channels. We offer a wide range of residential home loan programs to meet the needs of most home buyers and homeowners and are also the nation's leading provider of Section 184 home loans for Native Americans. Learn more at https://www.midamericamortgage.com/.

In operation since 1940, Mid America has thrived by retaining its entrepreneurial spirit and leading the market in innovation, including its adoption of eClosings eNotes. Click n' Close, the Official Mortgage Provider of NASCAR(r), is Mid America's ultra-secure, digital mortgage approval and closing process that delivers an eight-minute application process, getting home buyers from application to closing within two weeks. With just a few clicks at closing, Click n' Close puts keys in the home buyer's hand in 15 minutes or less. Apply online at https://clicknclose.com.

Mid America is looking for tech-savvy, service-oriented mortgage professionals to join its growing team. We are dedicated to providing our employees with industry-leading tools and technology to deliver a great package of competitive pricing, programs and knowledgeable service. Want to join our team? Visit http://www.midamericacareer.com/.

Twitter: @midamericamtge

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Business, Free News Articles, Webinars

Mortgage Capital Trading Announces Complimentary Webinar Addressing Changes to FINRA’s Market to Market Rule

SAN DIEGO, Calif. -- Mortgage Capital Trading, Inc. (MCT), a leading mortgage hedge advisory and secondary marketing software firm, announced that it will be holding a complimentary educational webinar discussing many important changes to the Financial Industry Regulatory Authority (FINRA) Mark to Market Rule. The webinar, hosted by the Community Mortgage Lenders of America (CMLA), will guide lenders through all of the mandated rule changes in advance of the required implementation date of June 25, 2018. Lenders will leave the webinar with a good understanding of the rule details, how it will affect their businesses, and how to prepare for it.

According to FINRA Regulatory Notice 16-31, amendments to Rule 4210 will change margin requirements for Covered Agency Transactions, including the TBA transactions central to MCT pipeline hedging strategies. FINRA members will be required to collect daily MTM margin from all counterparties on these transactions. However, the margin is not required to be collected or charged to net capital if the aggregate required but uncollected MTM loss does not exceed $250,000.

Topic: What the FINRA Mark to Market Rule Means for You
Speaker: Phil Rasori, Chief Operating Officer at Mortgage Capital Trading, Inc. (MCT)
Organizer: Glen Corso, Executive Director at Community Mortgage Lenders of America (CMLA)
Date: Thurs., Nov. 16, 2017
Time: 2 p.m. EST/11 a.m. PST.

Webinar Overview:
Starting June 25, 2018 if a lender's net mark to market position on covered agency transactions is more than negative $250,000 on a daily basis, their FINRA registered broker dealer will be required to collect the amount that exceeds $250,000. This change is a result of a rules change by the FINRA, which regulates most broker-dealers in the U.S.

This webinar, featuring Phil Rasori, COO of Mortgage Capital Trading, Inc. (MCT), will inform lenders what they need to know about this rule change, what it will mean for their company and what they can do to minimize any negative impact due to the rule change.

Register for this complimentary webinar to learn what this change will mean for you and your business moving forward. https://www.eventbrite.com/e/complimentary-webinar-finra-mark-to-market-rule-tickets-39099150612

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.

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

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Business, Free News Articles

The Mortgage Collaborative Announces Addition of FirstBank Mortgage as the First Reverse Lender to Their Preferred Partner Network

SAN DIEGO, Calif. -- The Mortgage Collaborative, the nation's only independent mortgage cooperative, announced a new partnership with reverse mortgage lender FirstBank Mortgage. The new relationship with FirstBank Mortgage's Senior Lending Division, adds the first lender specializing in reverse mortgage lending to The Mortgage Collaborative's preferred partner network.

"FirstBank has a fantastic track record in this unique lending arena. I am confident their high level of customer service and common-sense underwriting will benefit Mortgage Collaborative members," said Rich Swerbinsky, Chief Operating Officer for The Mortgage Collaborative. "FirstBank was one of The Collaborative's first members. Adding their Senior Lending Division to our preferred partner network is a natural fit."

FirstBank's Senior Lending Division maintains a national full-service reverse mortgage fulfillment platform.

"Our Leadership team is excited about the newly formed partnership with The Mortgage Collaborative," said Rob Henger, SVP Director of Mortgage Banking for FirstBank. "I am very confident that our Reverse Mortgage Department will become a trusted advocate for any Collaborative member that wants high-touch assistance in reverse mortgage third party origination."

The Mortgage Collaborative network is more than 120 lenders strong, with an aggregate annual origination volume of over $200 billion. The Mortgage Collaborative is rewriting the playbook on the cooperative model and their network caters to lenders of all sizes, with a strong mix of independent mortgage brokers and community banks and depositories.

About The Mortgage Collaborative:

Based in San Diego, The Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise, improved compliance, and to help its members access the dynamic and changing consumer base in America. The association is managed by its founding members: John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America (MBA).

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

About FirstBank:

FirstBank is an FDIC-insured bank and the third largest Tennessee bank, with 75 locations across the southeast. Headquartered in Nashville, Tenn., FirstBank serves every major market in the state and clients across the United States. With assets totaling more than $4.5 billion, FirstBank is in the top 5 percent of all U.S. banks based on assets. Since our beginning in 1906, community banking has remained our philosophy and business model as we strive to improve the quality of life for those we serve. FirstBank Mortgage strives to help everyone "Get to a Better Place".

FB Financial Corporation (NYSE:FBK) is the holding company for FirstBank.

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

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Business, Free News Articles

Guaranteed Rate Selects ARMCO’s ACES Audit Technology™

POMPANO BEACH, Fla. -- ACES Risk Management (ARMCO), the leading provider of financial quality control and compliance software, has announced that Guaranteed Rate, one of the largest retail mortgage lenders in the nation, has selected the company's award-winning quality control and compliance software, ACES Audit Technology, for its quality control processes.

Headquartered in Chicago, Guaranteed Rate has approximately 200 offices across the U.S. and Washington, D.C., and is licensed in all 50 states. Since its founding in 2000, Guaranteed Rate has helped hundreds of thousands of homeowners with home purchase loans and refinances and funded nearly $23 billion in loans in 2016 alone. The company has become the Home Purchase Experts(R) by introducing the world's first Digital Mortgage technology and offering low rate, low fee mortgages through an easy-to-understand process and unparalleled customer service. Guaranteed Rate won an American Business Award for its Digital Mortgage technology in 2016, ranked No. 1 in Scotsman Guide's Top Mortgage Lenders 2016, was chosen Top Lender 2016 and 2017 by Chicago Agent magazine and made the Chicago Tribune's Top Workplaces list six of the past seven years.

Nikolaos Athanasiou, Guaranteed Rate's Chief Operating Officer stated, "We are continually looking for cutting-edge technology platforms that further enhance the company's operations. ACES is a state-of-the-art solution and we are happy to have the ARMCO platform up and running with our risk prevention teams."

"Innovative companies like Guaranteed Rate know that a strong QC platform is a key component to growth and longevity," said Phil McCall, president of ARMCO. "They know that QC isn't limited to a reactive approach and they can proactively use QC data -- like data that's easily available in ACES -- to protect their profits and elevate their businesses. We're looking forward to supporting Guaranteed Rate as they continue to expand their reach and grow their market share."

About ARMCO:

ARMCO - ACES Risk Management delivers web-based audit technology solutions, as well as powerful data and analytics, to the nation's top mortgage lenders, servicers, investors and outsourcing professionals. A trusted partner devoted to client relationships, ARMCO offers best-in-class quality control and compliance software that provides U.S. banks, mortgage companies and service providers the technology and data needed to support loan integrity, meet regulatory requirements, reduce risk and drive positive business decisions. ARMCO's flagship product, ACES Audit Technology(TM), is available at any point in the mortgage loan lifecycle, to any size lender, and is user-definable. ACES standardizes audit requirements, ties pre-funding reviews to post-closing quality control audits, enables seamless trend analysis, identifies credit, compliance and process deficiencies and helps create manageable action plans.

For more information, visit http://www.armco.us/ or call 1-800-858-1598.

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Business, Free News Articles, Funding and Investment, Insurance, Software

Matic Insurance Services Raises $7 Million in Series A Round Backed by Top Lender, Insurance Carriers and VC Firms

SHERMAN OAKS, Calif. -- Matic Insurance Services (Matic), a digital insurance agency whose technology enables borrowers to purchase homeowner's insurance during the mortgage transaction, announced today it has raised $7 million in a Series A funding round. Investors participating in the round include Mr. Cooper, one of the nation's top 20 mortgage originators and the fourth-largest home loan servicer in the country; Nationwide, one of the world's largest insurance and financial services companies; National General Insurance, one of the largest automobile insurers in the United States; and Anthemis and ManchesterStory Group, venture capital firms focused on fintech and insurtech, respectively.

"Simplifying homeowner's insurance and bringing policy selection into the home-buying process is a no-brainer - in fact, people often ask us why it's never been done before," said Matic Co-founder and CEO Aaron Schiff. "Matic brings to the table an outstanding technical team, a deep understanding of the mortgage business and unprecedented partnerships with insurance carriers, mortgage lenders and mortgage servicers, some of whom are also our financial supporters. This new funding will support us as we double our team and scale the business to serve our customers in all verticals."

"Mr. Cooper is pleased to be working with Matic to give our customers access to its innovative digital home insurance platform," said Tony Ebers, executive vice president of originations for Mr. Cooper. "Our investment in Matic will help us provide our customers a modern, easy-to-use shopping experience that could save them money on homeowner's insurance and make their homeownership journey more rewarding."

Matic has steadily grown since 2016 to become the market leader in lender and servicer distribution of homeowner's insurance. In the last 12 months, leading U.S. mortgage lenders including Freedom Mortgage and Mr. Cooper have come to rely on Matic for their homeowner's insurance needs. Matic has also forged partnerships with more than 12 of nation's top-rated insurance carriers, including such household names as Nationwide, Progressive, National General Insurance and Safeco, and announced integrations with such leading mortgage loan origination (LOS) and point-of-sale (POS) systems as LendingQB, PCLender, BeSmartee, Maxwell and Roostify.

A licensed insurance agent in all 50 states, Matic has delivered more than 300,000 quotes to the customers of some of the nation's largest mortgage lenders and servicers. Thanks to Matic, these companies can close loans faster, reduce origination costs and improve the borrower experience by dramatically simplifying the often-confusing homeowner's insurance process.

In September 2017, Matic was one of just 22 companies selected to compete in TechCrunch's Startup Battlefield, the world's pre-eminent startup competition. Matic went on to advance to the final round of the competition with just five other startups.

Largely financed by private funding, Matic previously raised $2.3 million in seed funding led by Anthem Venture Partners, a VC firm that primarily invests in early-stage technology companies, and Freedom Mortgage, one of the nation's largest non-bank mortgage lenders.

About Matic Insurance Services:

Matic Insurance Services (Matic) is a technology-driven insurance agency focused on helping lenders and loan officers better integrate homeowner's insurance into the lending process. By using loan application information and first-of-its-kind technology, Matic provides homebuyers multiple policy options within seconds, helping loan officers close their loans faster. Matic delivers the most trusted, affordable insurance policies available thanks to its partnerships with a diverse network of insurance carriers. Today's borrowers expect a digital home-buying experience, and Matic gives them the digital insurance experience to match.

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

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