Eye on the Industry: Updates from Caliber, Veros, Ellie Mae, and More …

From new appointments to rewards and recognition, get the pulse of the mortgage industry in this weekly update.

In a top management shake-up, the Coppell, Texas-based Caliber Home Loans announced that it had appointed Jordan Licht as COO, Production and Danny Horanyi as Head of Non-agency Lending. “Congratulations to Jordan Licht and Danny Horanyi, who have been appointed as Caliber COO, Production and Head of Non-Agency Lending, respectively,” said Caliber Home Loans CEO Sanjiv Das. “I’m delighted to recognize these individuals that have proven track records of leadership and success. I'm confident that these changes will help us accelerate our growth, improve our competitiveness and continue to position Caliber as the most highly regarded non-bank lender in the industry”. Licht’s previous experience at CoreLogic includes SVP, Head of Strategy, Planning and Analytics; other experience includes the Executive Direct

or position at Morgan Stanley. Lich has an MBA from Columbia Business School.

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Veros Real Estate Solutions, a developer of enterprise risk management, collateral valuation, and predictive analytics services, and SWBC Lending Solutions, which provides cost-effective and compliant lending products for originators, loan servicers, and portfolio managers, have partnered to provide complete, end-to-end collateral valuation and analytics services. Texas-based SWBC Lending Solutions, a subsidiary of SWBC, will now offer Veros' AVM solutions, including the company’s proprietary VeroVALUESM suite and the breakthrough VeroPRECISION valuation decision engine, for all mortgage industry participants seeking to maintain valuation accuracy, while cutting costs and increasing operational efficiencies. "SWBC Lending Solutions has a stellar reputation for providing comprehensive services and solutions that touch every stage of the mortgage lifecycle and, with the addition of Veros as a preferred supplier, they will now have the ability to offer even greater benefits to their customers,” said Veros President and CEO Darius Bozorgi. “We look forward to working with the SWBC team and to leveraging our innovative products, compliance expertise, and outstanding customer service to support their business objectives, as well as those of their valued customers.” "We are thrilled to have partnered with Veros Real Estate Services,” said Ted Robinson, CEO of SWBC Lending Solutions. “They are the leader in AVM modeling and technology, and our customers will benefit greatly from these innovative products.”

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United Wholesale Mortgage has passed Quicken Loans to become the top non-bank purchase lender in America, according to a report by Inside Mortgage Finance. UWM produced $11.2 billion in loan volume during the second quarter, with $8.3 billion of its business (74 percent) being attributed to new home purchases, compared to Quicken Loans, which purchase loans made up only 31.6 percent of its second-quarter loan volume. “This is a major accomplishment for us at UWM, and highlights the efforts of more than 2,700 team members here who are dedicated to helping our mortgage broker clients be the hero to their borrowers and the realtors they work with,” said Mat Ishbia, President and CEO of United Wholesale Mortgage. “The high amount of purchases going through the mortgage broker channel reinforces that borrowers don’t want to communicate with a call center loan officer that is 1,000 miles away, or use an app that is more sizzle than substance. They prefer local, they want an expert, and they want the process to be fast and easy – and that’s what mortgage brokers provide.”

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Ellie Mae has announced since the launch of their Encompass Consumer Connect in early July 2018, over 1000 unique lender sites have been established and over 6,000 unique borrowers have created accounts to complete home loans. Ellie Mae states that this momentum in the Consumer Engagement Suite highlights the need for digital mortgage solutions to help create interest, engage leads and convert opportunities. "We've seen a three-day pickup in our turn times from application to underwritten loan using Encompass Consumer Connect," said Andria Lightfoot, SVP, Information Systems, George Mason Mortgage, LLC. "Many systems do an excellent job with online applications, but don't continually engage the customer to reinforce the borrower-lender relationship. Ellie Mae knocked it out of the park on that point."

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Finicity, a provider of real-time financial data aggregation and insights, recently announced an integration agreement with Capsilon, a provider of intelligent process automation software for the mortgage industry. Under the agreement, Finicity’s Verification of Assets (VoA) solution has been integrated into the Capsilon platform, in order to improve the speed, user experience and economics of the mortgage process. According to Finicity, their VoA solution provides bank-validated insights into borrower assets, enabling reports to be generated in minutes. The solution reduces fraud, frees up resources, shortens time to close and is now integrated with Capsilon borrower and loan officer workspaces to automate asset verification. This further streamlines the loan application process — borrowers no longer need to search for bank statements, and loan officers have more time to focus on higher value activities, such as getting more loans. “We’re excited to work alongside Capsilon with the shared goal of transforming the difficult manual mortgage origination processes of today into a modern and digital experience of the future,” said Steve Smith, Finicity CEO. “Finicity’s VoA reports are a key part of the next-generation mortgage process.”

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