From fintech and expansion plans to acquisitions and new appointments, catch the latest buzz on the industry in this weekly update.
Jacksonville, Florida-headquartered Black Knight Inc has announced the launch of its Rapid Analytics Platform (RAP), an innovative, interactive virtual analytics lab where users can source and upload data, execute queries, perform complex analytics, and train machine-learning models in a single workspace. A completely cloud-based platform for working with big data, RAP features an advanced workspace environment offering a mix of traditional analytics, machine learning and neural networks to help users create data-driven solutions and actionable analytic outputs.
“RAP is a unique technology platform that was designed for the mortgage and capital markets industries and can be used out of the box, on day one, to support virtually endless possibilities,” said Anthony Jabbour, CEO of Black Knight. “This innovative tool delivers computational power an order of magnitude greater than what most firms have in-house, and enables data scientists and analysts to deliver faster insights and help their companies enhance performance, identify new revenue opportunities, increase efficiencies, and reduce risk.”
California-based Consolidated Analytics, a provider of property valuation, loan due diligence, mortgage fulfillment, and advisory services for the real estate finance industry announced its acquisition of Carrington Property Services (CPS), a provider of third-party REO asset management, rental management, and valuation services.
The transaction, which was finalized on February 1, 2019, broadens Consolidated Analytics' scope of services and enhances its value proposition to its lender, GSE, servicer, and capital markets clients. The move supports the company's long-term growth plan centered on providing the real estate finance industry with a one-stop services solution.
"Mortgage industry participants are looking for a streamlined, scalable, and centralized way to effectively evaluate and manage their real estate assets," said Arvin Wijay, CEO at Consolidated Analytics. "The acquisition of CPS boosts our infrastructure, resources, technology, and support functions, which will improve productivity and accelerate returns at every aspect of the asset management lifecycle."
Michigan-headquartered, Home Point Financial Corporation (Home Point) has announced the launch of non-agency mortgage lending solutions with its new Home Point Edge suite of products.
Will Pendleton, Senior Managing Director–Non-Agency Segment Manager will be leading this initiative for Home Point. “A significant segment of the workforce has been largely underserved by the traditional agency and prime jumbo mortgage products for years,” Pendleton said. “The Home Point Edge lending platform is designed to provide financing solutions to those previously underserved, yet credit-worthy consumers. The Edge platform will provide our business partners with financing solutions that enable them to grow their business and serve more of their qualified customers while maintaining discipline around their ability to repay and sustainable lending practices.”
Utah-headquartered Castle & Cooke Mortgage has announced the addition of one more location for its operations. The company said that it had expanded its operations to Batesville, Mississippi with a new office in that area. This is its third branch in Mississippi and will be led by Katy White, the lender said.
“The Batesville branch is lucky to have Katy as part of their team, and I’m excited to see them grow and expand to help Mississippi borrowers,” said Adam Thorpe, CEO of Castle & Cooke Mortgage.
“I am here to help homebuyers evaluate their current financial situations and future goals to identify loan programs that best fit their individual needs,” said White. “Whether clients are in need of a loan for a new purchase or for refinancing their current mortgage, I look forward to putting my expertise to work for them.” Castle & Cooke Mortgage is an independent mortgage lender with locations across the United States. The company has over 300 employees and is founded on four core values—honesty, integrity, transparency, and reliability.