Eye on the Industry: Updates on Alogent, Planet Home Lending, and More

Consolidated Analytics, a provider of mortgage services, announced the appointment of Josh Fuchs as SVP of product development and sales for its residential valuations division. In this role, Fuchs will drive the vision, innovation, execution and adoption of new real estate valuation products and will strengthen and modernize existing platforms.

Fuchs joins the California-based Consolidated Analytics from Goldman Sachs, where he was Vice President, Head of Residential Valuation for its real estate management division. Fuchs has more than 15 years of leadership experience developing operational and technology infrastructure, policies, and capabilities that enhance valuation platform and service scalability, efficiency and quality. In earlier roles, Fuchs held leadership positions at JPMorgan Chase, ISGN and FNMA.

"Josh's talent and experience is known in the mortgage industry and he is particularly known for successfully using technology and analytics to innovate solutions within constraints," said Consolidated Analytics CEO Arvin Wijay. "As Consolidated Analytics continues to augment our solutions with real estate analytics, leverage automation and embrace emerging technologies, Josh's 'in-compliance' but 'outside-the-box' approach will be incredibly valuable."

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Alogent, a Georgia based global banking and financial software provider has expanded its product portfolio with the acquisition of the FinanceGenius suite of lending software from IntelliEngines, Inc.

The cloud-based software suite, which will now be marketed under the new name Origins, part of the Alogent Lending family, automates consumer lending and streamlines the loan origination process for financial institutions and retail lending. With an end-to-end, fully scalable mobile, online and digital experience, consumers gain simplicity and speed, maximizing decisions and business opportunities for banks and credit unions. Terms of the deal were not disclosed.

“The addition of Origins to Alogent’s product portfolio naturally marries our digital banking and enterprise information management solutions,” said Jason Schwabline, Chief Strategy Officer at Alogent. “Cloud-based and mobile-ready, Origins is a turnkey and automated decisioning platform that embodies Alogent’s ‘user-first’ and channel-agnostic approach. Consumers choose how they want to engage—online, mobile, in-branch, or by phone—while financial institutions benefit from a streamlined and uniform workflow regardless of the channel of interaction.”

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Meriden, Connecticut-based national mortgage lender Planet Home Lending (PHL), has passed several milestones since the beginning of 2019, the company announced recently. They include opening a dozen branches, launching several new loan products, posting a net promoter score of 95.6%, and receiving an increase in its servicer rating from Fitch Ratings.

During the year, the company said that it:

• Expanded its non-QM product line by adding additional bank statement, asset depletion, single-family investor, mixed-use, and post-bankruptcy/foreclosure programs
• Now offers purchase and refinance VA home renovation loans
• Received an upgraded rating from Fitch Ratings for its servicing efforts and a Stable Outlook forecast
• Achieved a Net Promoter Score (NPS) of 95.85. The score measures the willingness of a customer to recommend a product or service to others and ranges from -100 to 100 and the average NPS in banking is 441
• Opened a new Regional Operation Center for Planet Home Lending and a Western Regional Office for Planet Management Group, the company's sub-servicer affiliate, in Texas

"Expanding our footprint through our distributed retail offices demonstrates our commitment to ensure more consumers have access to quality home financing," said Michael Dubeck, CEO and President of PHL's parent Planet Financial Group. "We plan to continue our efforts to serve as many communities as we can."