Black Knight, Inc. and Detroit-based Quicken Loans, announced the companies have broadened their relationship as Quicken Loans extended its contract for Black Knight’s MSP servicing system and is adding multiple Black Knight solutions.
Additionally, Black Knight purchased the source code for Quicken Loans’ “Cyclops” mortgage servicing customer relationship management (CRM) software.
The Cyclops software provides a number of tools Quicken Loans uses to meet the needs of today’s mortgage consumers. This software suite will serve as the foundation for a highly advanced customer service solution that Black Knight will be offering to clients of its industry-leading MSP servicing system.
Roostify, a digital lending platform, announced an expanded relationship with Optimal Blue, a provider of secondary marketing automation to the mortgage industry.
The enhanced functionality obtained through this collaborative partnership will enable Roostify to further automate the digital lending experience for their clients by embedding Optimal Blue’s comprehensive pricing capabilities directly into their platform.
Roostify has leveraged Optimal Blue’s product eligibility and pricing (PPE) technology to support lead generation efforts since 2016. Now, the enhanced integration enables their digital lending platform to deliver Optimal Blue’s robust, accurate pricing options directly to loan officers and borrowers, without ever leaving the Roostify environment.
Homebuyers who utilized down payment assistance (DPA) from CBC Mortgage Agency (CBCMA) realized an average increase of nearly $27,000 in their home's value, according to an internal analysis conducted by CBCMA, a nationally chartered housing finance agency and a leading down payment assistance source for first-time homebuyers.
According to a report from the Federal Reserve Board, while the net worth for the average U.S. renter was just $5,200 as of 2016, that number jumped to $231,400 for the average homeowner. But saving enough for the down payment necessary to make the transition from tenant to owner can be next to impossible for many American families, some of whom are saddled with student debt.
However, on transactions where CBCMA provided down payment assistance, the average home value gain was $26,942. The company determined the equity growth by analyzing publicly available automated property valuation data for 17,500 of its transactions. The analysis also found that 96% of CBCMA customers have seen price appreciation.