Loans

QuadraGen Announces the Launch of Its Next Generation Commercial Loan Processing SaaS Platform and Edward Ho Joins As Chairman

Retrieved on: 
Thursday, July 29, 2021
Software, Finance, Consulting, Banking, Professional services, Technology, Mobile, Wireless, Other Technology, Loans, Money, Finance, Economy, Financial market

QuadraGen announces the launch of its next generation commercial loan servicing SaaS platform to help financial institutions transform their complex loan processing capabilities.

Key Points: 
  • QuadraGen announces the launch of its next generation commercial loan servicing SaaS platform to help financial institutions transform their complex loan processing capabilities.
  • The QuadraGen Platform supports various areas of loan operations, enabling more efficient and effective processing of loan information, risk management, and decision-making.
  • QuadraGens key differentiator is its team of experts, who have decades of commercial lending experience understanding and solving complex loan operation issues.
  • Financial institutions are challenged by the size, complexity, number of participants, and speed of the loan markets.

Mortgage Servicers Score Points with Customers during Pandemic but Threats Loom for Banks, J.D. Power Finds

Retrieved on: 
Thursday, July 29, 2021
Banking, Online Retail, Internet, Professional services, Consumer, Technology, Residential Building & Real Estate, Construction & Property, Retail, Other Consumer, Finance, Consulting, Finance, Money, Loans, Mortgage servicer, Quicken Loans, Mortgage loan, Financial services, Mortgage industry of the United States, Mortgage-backed security, Banking in the United States, Mortgage bank, J.D. Power, J.D. Power and Advertising/Promotional Rules, J.D. POWER, J.D. POWER AND ADVERTISING/PROMOTIONAL RULES

Bank-affiliated servicers, which have historically outperformed non-banks by a large margin, gain just four points in satisfaction this year.

Key Points: 
  • Bank-affiliated servicers, which have historically outperformed non-banks by a large margin, gain just four points in satisfaction this year.
  • Overall satisfaction among at-risk customers increases 15 points year over year, while satisfaction scores among low-risk customers declines one point.
  • Satisfaction scores among customers who also use their servicers bank products are 55 points higher than among those who have mortgage-only relationships.
  • Rocket Mortgage (which includes Quicken Loans) is the highest-ranked mortgage servicer for an eighth consecutive year, with a score of 860.

PennyMac Mortgage Investment Trust Announces Date for Release of Second Quarter 2021 Results

Retrieved on: 
Thursday, July 29, 2021
REIT, Finance, Professional services, Residential Building & Real Estate, Construction & Property, Loans, Mortgage loan, Real estate investment trust, Finance, Money, PennyMac Financial Services, Financial services

PennyMac Mortgage Investment Trust (NYSE: PMT) will announce results for the quarter ended June 30, 2021 in a news release to be issued after the market close on Thursday, August 5, 2021.

Key Points: 
  • PennyMac Mortgage Investment Trust (NYSE: PMT) will announce results for the quarter ended June 30, 2021 in a news release to be issued after the market close on Thursday, August 5, 2021.
  • The recording and accompanying slide presentation will be available on the Companys website concurrently with the news release.
  • PennyMac Mortgage Investment Trust is a mortgage real estate investment trust (REIT) that invests primarily in residential mortgage loans and mortgage-related assets.
  • Additional information about PennyMac Mortgage Investment Trust is available at www.PennyMac-REIT.com .

SN Servicing Corporation Notifies Clients of Data Security Breach

Retrieved on: 
Friday, July 30, 2021
Chemical substances, Chemistry, Loans, Data security, Physical sciences, SN, Tin(II) fluoride, Data validation, Loan servicing

EUREKA, Calif., July 30, 2021 /PRNewswire/ --SN Servicing Corporation ("SN") has become aware of an incident that may have exposed some of our borrower's data, including name, contact information, date of birth, social security number, and loan/borrower information.

Key Points: 
  • EUREKA, Calif., July 30, 2021 /PRNewswire/ --SN Servicing Corporation ("SN") has become aware of an incident that may have exposed some of our borrower's data, including name, contact information, date of birth, social security number, and loan/borrower information.
  • SN takes clients' privacy very seriously and has taken steps to notify any clients who may have been affected by this incident.
  • SN sincerely regrets any inconvenience that this incident may cause and remains dedicated to protecting clients' personal information.
  • SN then engaged in a substantial data validation process to verify the accuracy of the data and reconcile to internal records.

Bank of Botetourt posts profitable second quarter financial results

Retrieved on: 
Friday, July 30, 2021
Loans, Mortgage loan

BUCHANAN, Va., July 30, 2021 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) announced today its unaudited financial results for the three and six months-end June 30, 2021.

Key Points: 
  • BUCHANAN, Va., July 30, 2021 /PRNewswire/ -- Buchanan-based Bank of Botetourt (OTCPK: BORT) announced today its unaudited financial results for the three and six months-end June 30, 2021.
  • The Bank produced net income amounting to $1,582,000 or $0.91 per basic share in the second quarter.
  • President & CEO, G. Lyn Hayth, III stated "Our second quarter financial results continued to exceed budget expectations.
  • Bank of Botetourt also operates a mortgage division, Virginia Mountain Mortgage and a financial services division, Botetourt Wealth Management.

Redfin Reports Pending Sales Post Smallest Increase in Over a Year

Retrieved on: 
Friday, July 30, 2021
Loans, Mortgage loan, Mortgage industry of the United States

Pending home sales posted their smallest year-over-year increase (7%) since late June 2020.

Key Points: 
  • Pending home sales posted their smallest year-over-year increase (7%) since late June 2020.
  • Some of those buyers have grown weary, with online home searches, in-person tours and mortgage applications all on the decline.
  • Key housing market takeaways for 400+ U.S. metro areas:
    Unless otherwise noted, this data covers the four-week period ending July 25.
  • Pending home sales were up 7%, the smallest year-over-year increase since the four-week period ending June 27, 2020.

AmeriSave Mortgage Corporation Funds a Record $23 Billion in the First Half of 2021

Retrieved on: 
Thursday, July 29, 2021
Loans, Money, Finance, Mortgage loan, Economy, Mortgage broker

Within this timeframe, AmeriSave has funded a record $23 billion in volume, compared to January - June 2020 of $6.7 billion in volume.

Key Points: 
  • Within this timeframe, AmeriSave has funded a record $23 billion in volume, compared to January - June 2020 of $6.7 billion in volume.
  • "The success that AmeriSave has experienced this year has been remarkable," said Mike Berte, president and COO of AmeriSave Mortgage Corporation.
  • "Our wholesale division has taken off rapidly and surpassed all expectations," said Michael Brenning, president of Wholesale Lending at AmeriSave Mortgage Corporation.
  • Founded in 2002, AmeriSave Mortgage Corporation is a leading mortgage lender best known for pioneering the first truly digital mortgage experience to borrowers.

Mortgage Lenders Gain Momentum with the BeSmartee Mortgage POS

Retrieved on: 
Thursday, July 29, 2021
Loans, Mortgage loan, Mortgage, Money, Finance, Economy

To address these dynamics, BeSmartee has built an industry leading digital Mortgage POS platform that goes deeper and faster into the origination process.

Key Points: 
  • To address these dynamics, BeSmartee has built an industry leading digital Mortgage POS platform that goes deeper and faster into the origination process.
  • Lenders who have partnered with BeSmartee and integrated the firm's Mortgage POS into their systems have taken advantage of the 50-basis-point drop, and experienced:
    "The 90% increase in refinance applications through the BeSmartee Mortgage POS is proof that our platform goes deeper and faster into the origination process, helping lenders process applications in 14-20 minutes from signed up to closed loan," said Veronica Nguyen, Executive Vice President and Co-founder of BeSmartee.
  • To learn more about how lenders can prepare for the jump in refinance applications with BeSmartee's Mortgage POS platform, contact our mortgage technology experts at (888) 276-1579 or [email protected] .
  • BeSmartee delivers a complete digital mortgage experience that goes deeper into the origination process to help lenders close faster making a once-cumbersome experience easy, fast and transparent for all.

Every Client, Every Time: Rocket Mortgage Named America's Top Mortgage Servicer for Client Satisfaction by J.D. Power for 8th Consecutive Year

Retrieved on: 
Thursday, July 29, 2021
Loans, Finance, Money, Rock Ventures, Quicken Loans, Mortgage industry of the United States, Mortgage loan, Economy, Mortgage origination, Mortgage, Draft:Rocket Mortgage, Jay Farner

Rocket Mortgage took an extremely proactive approach toward helping clients impacted by COVID-19.

Key Points: 
  • Rocket Mortgage took an extremely proactive approach toward helping clients impacted by COVID-19.
  • Detroit-based Rocket Mortgage, the nation's largest home mortgage lender, enables the American Dream of homeownership and financial freedom through its obsession with an industry-leading, digital-driven client experience.
  • Rocket Mortgage closed $320 billion dollars of mortgage volume across all 50 states in 2020.
  • Rocket Mortgage ranked highest in the country for customer satisfaction for primary mortgage origination by J.D.

S&P Global data shows ESG-related leveraged finance issuance has increased substantially in Europe

Retrieved on: 
Thursday, July 29, 2021
Finance, Money, Environmentalism, Leveraged buyout, Private equity, Ethical investment, Economy, Ethical banking, Loans, RepRisk, Environmental, social and corporate governance

The analysis is based on a recently launched ESG Leveraged Finance dataset from Leveraged Commentary & Data (LCD), an offering of S&P Global Market Intelligence.

Key Points: 
  • The analysis is based on a recently launched ESG Leveraged Finance dataset from Leveraged Commentary & Data (LCD), an offering of S&P Global Market Intelligence.
  • Marina Lukatsky, head of research for LCD, part of S&P Global Market Intelligence, said: "ESG is gaining traction across leveraged finance.We can see the global leveraged finance markets are embracing the concept of ESG-linked transactions.
  • In Europe in particular, loan issuance linked to ESG-related KPIs has skyrocketed and the pricing mechanism has become more mainstream.
  • LCD is part of S&P Global Market Intelligence and not by S&P Global Ratings, which is a separately managed division of S&P Global.