Eave, a direct-mortgage lender, launched recently with a focus on jumbo mortgages, technology and low fees. The originator, only operating in Colorado at the moment, claims to be able to close loans about twice as fast as “brand name” lenders. “We took the entire mortgage universe apart and put it back together, better,” the firm said, touting its underwriting process. The lender claims that more than 60 percent of the information collected by other lenders from ...
There are some in the industry who believe the entire subservicing sector is far behind in technology and customer service – and is ripe for a technology disruption of a major kind.
Announcements involving mortgage industry participants and blockchain are coming fast and furious, with many predicting that the distributed ledger technology can improve existing processes. Some home sales have already been completed with processes involving blockchain. Ranieri Solutions recently partnered with a blockchain company. Mike Cagey, the former CEO of marketplace lender Social Finance, formed a home-equity lender that plans to use blockchain. And the ...
The owner of Mortgage Electronic Registration Systems recently launched a product aimed to ease lenders’ adoption of electronic promissory notes, allowing for streamlined digital-mortgage originations. MERSCORP Holdings partnered with eOriginal, a digital-mortgage vendor, to offer eNote Solutions. The product allows for the creation, execution, registration and management of electronic promissory notes, known as eNotes. “This solution will enable thousands of originators to realize the ...
Bitcoin, the internet’s virtual currency, is slowly becoming an acceptable alternative method of payment for items, including real estate. Whether it will supplant the more traditional process of purchasing a home remains to be seen. Thomas Bayles, chief executive officer of Urban Asset Group, a house-flip firm in Los Angeles, last year facilitated a record-setting purchase of a mid-century house in Eagle Rock, CA, using bitcoins. The remodeled, five-bedroom residential property in ...
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