From team expansions and tech innovation to catching the financial pulse of mortgage companies, click through to learn the latest industry news in this update.
Black Knight, Inc., a provider of integrated software, data, and analytics to the mortgage and real estate industries announced the launch of Digital Point of Sale, a new solution powered by artificial intelligence (AI) that is integrated with the Black Knight Empower loan origination system (LOS).
Using AIVA, the company’s artificial intelligence virtual assistant, Black Knight’s Digital Point of Sale streamlines the origination process while simultaneously ensuring data integrity and consistency from the beginning.
“Leveraging AIVA’s skills, Digital Point of Sale guides the consumer through the steps of prequalification and then preapproval through a simple, intuitive Q&A format, validating data and documents along the way,” said Anthony Jabbour, CEO of Black Knight. “Collected data is then immediately available in Empower, streamlining the entire origination process—and providing a single source of truth. The result is an infinitely more efficient process, a significantly enhanced customer experience and increased data integrity and consistency for Empower users.”
Home Point Financial, a wholesale and correspondent mortgage lender based in Ann Arbor, Michigan, is the fastest-growing non-bank mortgage lender in America, according to second-quarter data compiled by Inside Mortgage Finance. Home Point increased its loan volume by 98.5% from Q1 2019 through Q2 2019, outpacing several of the nation’s largest lenders, including Wells Fargo (62%), Quicken Loans (43%), United Wholesale Mortgage (61%), and Chase (60%).
“This is a major accomplishment for our team and for the broker and correspondent business partners we serve,” said Phil Shoemaker, CBO at Home Point. “Our goal is to be the best lender for brokers and correspondents. The growth that we’ve experienced shows that our plan is resonating within the market, and it’s really exciting because we’re only getting started. We remain focused on enhancing our platform to empower our business partners and experienced staff to reach new levels of productivity.”
Home Point retains the servicing on over 95% of the loans it originates. The company now has more than 200,000 customers in its servicing portfolio. Many third-party lenders sell the servicing rights for the loans they originate soon after the customer closes on their loan. This can create confusion and communication challenges for borrowers and disrupts a developing relationship in an important transaction.
Oregon-based Williston Financial Group has appointed three accomplished female housing industry leaders as VPs of Business Development for WFG’s Enterprise Solutions division, expanding the company’s presence in and commitment to the mortgage lending market.
In their new roles, Linda Vo, Melanie Cornelius, and Monique Winston are responsible for building and maintaining client relationships among the nation’s top financial institutions and mortgage lenders. WFG’s Enterprise Solutions division provides services and technology solutions that enable lenders to take time and cost out of mortgage transactions.
A 20-year-plus mortgage industry veteran, Vo served as Director of Business Development with Movement Mortgage prior to joining WFG. Her prior positions include VP, Texas area lending manager with Citi, and progressively responsible positions with Bank of America, including Business Development Director and VP of Alliance Relationships.