Loan origination

IOU REPORTS Q2 2022 FINANCIAL RESULTS

Retrieved on: 
Friday, August 26, 2022

Servicing and fee revenue of $4.5 million in Q2 2022, representing an increase of 14.8% over Q1 2022 (and an increase of 110.3% over Q2 2021).

Key Points: 
  • Servicing and fee revenue of $4.5 million in Q2 2022, representing an increase of 14.8% over Q1 2022 (and an increase of 110.3% over Q2 2021).
  • MONTREAL, Aug. 26, 2022 /PRNewswire/ - IOU FINANCIAL INC. ("IOU" or "the Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today its results for the three- and six-month periods ended June 30, 2022.
  • Previous product innovations include the IOU Financial Cash-Back Loan launched in August 2021, and the IOU Financial 24-Month Loan launched in November 2021.
  • Servicing and Fee revenue: Servicing and fee revenue increased 110.3% to $4.5 million Q2 2022 over Q2 2021 and increased 120.3% (2022: $8.4 million) for the six-month period ended in 2022 compared to the same period in 2021.

Bookings Spike for TIAA Bank's Vendor Equipment Finance Team

Retrieved on: 
Thursday, August 4, 2022

JACKSONVILLE, Fla., Aug. 4, 2022 /PRNewswire/ -- TIAA Bank's vendor equipment finance (VEF) team saw a year-over-year jump in new business volume. The growth stems from strong production across VEF served segments, including industrial, healthcare and capital markets.  

Key Points: 
  • JACKSONVILLE, Fla., Aug. 4, 2022 /PRNewswire/ -- TIAA Bank's vendor equipment finance (VEF) team saw a year-over-year jump in new business volume.
  • "VEF is laser-focused on supporting our vendor partners as they continue to rebound from the pandemic and return to a growth mode," said Justin Tabone, head of Originations, Vendor Equipment Finance for TIAA Bank.
  • TIAA Bank's Vendor Equipment Finance business, a division of TIAA, FSB, provides equipment financing for critical business assets to preserve the customer's capital and manage obsolescence of its equipment.
  • With a legacy of success and stability, TIAA Bank and its parent, TIAA, grow and maintain strong partnerships in each community they serve.

Lenders One® Adds Snapdocs as a Preferred eClosing Provider

Retrieved on: 
Tuesday, May 24, 2022

Snapdocs, Inc. today announced that Lenders One, a national alliance of more than 250 banks, credit unions and independent mortgage bankers, has added its digital closing platform as a preferred eClosing provider.

Key Points: 
  • Snapdocs, Inc. today announced that Lenders One, a national alliance of more than 250 banks, credit unions and independent mortgage bankers, has added its digital closing platform as a preferred eClosing provider.
  • We added Snapdocs as a preferred provider of Lenders One because of the teams dedication to customers, ability to help clients scale, and proven track record of eClosing success.
  • Snapdocs enables mortgage lenders to connect with all parties and technologies involved in a transaction to complete the entire closing process online.
  • We're excited to work with Lenders One as a preferred eClosing provider and bring our leading platform to even more of its members nationwide.

IOU REPORTS Q1 2022 FINANCIAL RESULTS

Retrieved on: 
Wednesday, May 18, 2022

Adjusted operating expenses of $3.5 million in Q1 2022, representing an increase of 19.2% over Q4 2021 (and an increase of 43.1% over Q1 2021).

Key Points: 
  • Adjusted operating expenses of $3.5 million in Q1 2022, representing an increase of 19.2% over Q4 2021 (and an increase of 43.1% over Q1 2021).
  • MONTREAL, May 18, 2022 /PRNewswire/ - IOU FINANCIAL INC. ("IOU" or "the Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today its results for the three-month period ended March 31, 2022.
  • Loans under management increased, on average, 83.5% (Q1 2022 vs. Q1 2021), outpacing a 43.1% growth in operating expenses (on an adjusted basis) and helping to reduce the Company's Adjusted Operating Expense Ratio to 10.7% in Q1 2022 (vs. 13.7% in Q1 2021).
  • The Company launched its first new lending product, the IOU Financial Cash-Back Loan, in August 2021 and the IOU Financial 24-Month Loan in November 2021.

IOU FINANCIAL INC. REPORTS FINANCIAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2021 AND BREAKS ALL-TIME RECORD IN ANNUAL LOAN ORIGINATIONS

Retrieved on: 
Wednesday, April 27, 2022

Total loan originations reached US$161.5 million in 2021, representing an increase of more than 90.3% over 2020 and surpassing all previous annual loan origination figures in the history of the Company.

Key Points: 
  • Total loan originations reached US$161.5 million in 2021, representing an increase of more than 90.3% over 2020 and surpassing all previous annual loan origination figures in the history of the Company.
  • Servicing and fee revenue increased 89.8% to $10.1 million in 2021 from $5.3 million in 2020.
  • MONTREAL, April 27, 2022 /PRNewswire/ - IOU FINANCIAL INC. ("IOU" or "the Company") (TSXV: IOU), a leading online lender to small businesses (IOUFinancial.com), announced today its results for the year ended December 31, 2021.
  • "We are proud of the team's performance in 2021 and even more excited about the opportunities ahead."

InterLinc Welcomes New Leadership to Support Rapid Growth

Retrieved on: 
Thursday, April 7, 2022

HOUSTON, April 7, 2022 /PRNewswire-PRWeb/ -- InterLinc Mortgage, a full-service mortgage lender, has industry leaders flocking to their ranks. Under the leadership of CEO and President, Gene F Thompson III, InterLinc welcomes talent such as their most recent hire, Kara Lamphere, as Chief Operations Officer. Formerly from Guaranteed Rate, Lamphere plans to streamline the company's efforts for operational excellence.

Key Points: 
  • Recognized for success and culture, InterLinc aligns their leadership for the next level of scale.
  • HOUSTON, April 7, 2022 /PRNewswire-PRWeb/ -- InterLinc Mortgage, a full-service mortgage lender, has industry leaders flocking to their ranks.
  • Under the leadership of CEO and President, Gene F Thompson III, InterLinc welcomes talent such as their most recent hire, Kara Lamphere, as Chief Operations Officer.
  • Adding over 160 team members and 12 branches in 2021, InterLinc has sustained exponential growth with a first-rate vision.

Mortgage Builder Rebrands to Constellation Mortgage Solutions

Retrieved on: 
Monday, April 4, 2022

SOUTHFIELD, Mich., April 4, 2022 /PRNewswire-PRWeb/ -- Mortgage Builder (MB), a leading provider of mortgage loan origination and servicing software, has announced that it has rebranded as Constellation Mortgage Solutions, Inc. (CMS), introducing an all new identity that aligns with its vision of the future. The change represents growth, advanced offerings and an evolution that spans the entire mortgage ecosystem.

Key Points: 
  • As Constellation Mortgage Solutions, the company will build on more than twenty years of tradition providing innovative mortgage technology solutions and best-in-class service for residential lenders and the consumers they serve.
  • "The transition from Mortgage Builder to Constellation Mortgage Solutions allows us to strategically offer additional best in class technology solutions and partnerships for independent mortgage lenders, banks and credit unions, while moving toward the Constellation brand family."
  • Existing enterprise solutions will remain Mortgage Builder LOS and Mortgage Builder LSS, available on the new CMS website .
  • Constellation Mortgage Solutions provides industry-leading lending technology solutions through its products: Mortgage Builder LOS, Mortgage Builder LSS, and ReverseVision.

Vemo Co-Founder Joins Stride Funding to Lead Operations, Along with Executives from Discover Financial, Federal Reserve, and OneMain Holdings

Retrieved on: 
Monday, April 4, 2022

BOSTON, April 4, 2022 /PRNewswire/ -- Vemo Education (Vemo) co-founder and former Senior Vice President of Originations & Servicing, Renée Mang, has joined Stride Funding, Inc. (Stride) as the company's Vice President of Operations. The award-winning startup, which provides flexible, affordable alternative funding products for students in higher education and alternative education programs, has added four new industry leaders to its executive team with a combined near 100 years of experience across Sallie Mae, National Foundation for Credit Counseling (NFCC), Discover Financial Services, Eastern Bank, OneMain Financial, and more.

Key Points: 
  • "I'm thrilled to be joining the team at Stride.
  • I look forward to growing the best-in-class education funding company driving access and affordability every step of the way."
  • Stride Funding Inc. is a mission-driven company that helps students hit their stridewith flexible educational funding.
  • GSV Ventures , Slow Ventures , Strada Education , Juvo Ventures , Firework Ventures , and Flybridge amongst others have participated in previous funding rounds.

Confidence and Growth Continue for Frank Kuri and Nationwide Mortgage Bankers ('NMB') in 2022

Retrieved on: 
Monday, March 28, 2022

MELVILLE, N.Y., March 28, 2022 (GLOBE NEWSWIRE) -- Nationwide Mortgage Bankers ("NMB") and Frank Kuri, EVP Branch Development, see increased growth and confidence in 2022.

Key Points: 
  • MELVILLE, N.Y., March 28, 2022 (GLOBE NEWSWIRE) -- Nationwide Mortgage Bankers ("NMB") and Frank Kuri, EVP Branch Development, see increased growth and confidence in 2022.
  • NMB EVP of Branch Development Frank Kuri sees the opportunity and a time to act and capitalize on the company's expanded growth and influence in 2022.
  • Frank Kuri has 30+ years of real estate financial services and mortgage banking experience.
  • Nationwide Mortgage Bankers, Inc. NMLS# 819382 ( www.nmlsconsumeraccess.org ) Equal Housing Lender 3 Huntington Quadrangle, Suite 403N, Melville, NY 11747 | (833) 700-8884 | www.nmbnow.com; "NMBNOW".

The Standard Promotes Jesse Levin to Second Vice President of Loan Origination

Retrieved on: 
Monday, March 28, 2022

StanCorp Mortgage Investors (The Standard) announced today that Jesse Levin has been promoted to second vice president of Loan Origination.

Key Points: 
  • StanCorp Mortgage Investors (The Standard) announced today that Jesse Levin has been promoted to second vice president of Loan Origination.
  • View the full release here: https://www.businesswire.com/news/home/20220328005030/en/
    Jesse Levin, Second Vice President of Loan Origination, The Standard (Photo: Business Wire)
    In his new role, Levin is responsible for the origination, underwriting and closing of all new commercial mortgage business and the underwriting and closing of all administrative transactions for an existing mortgage portfolio that exceeds $13 billion.
  • Levin joined StanCorp Mortgage Investors in 2006 as a mortgage loan analyst and has held various roles within loan origination overseeing new loan production, underwriting and closing.
  • Jesse has been an instrumental part of our success and growth over many years, said Mike Morey, vice president and managing director of StanCorp Mortgage Investors.