From new fintech features and leadership appointments to launch of platforms, feel the industry’s pulse in this weekly update
Ellie Mae, a cloud-based platform provider for the mortgage finance industry, announced that Dan Madden will join the organization as EVP and CFO on December 20, 2018. Madden will report to Jonathan Corr, Ellie Mae’s President, and CEO.
“Ellie Mae is leading the industry as we drive toward our mission of providing the true digital mortgage to lenders of all sizes,” Corr said. “Dan’s extensive financial, operational and strategic experience coupled with his knowledge of technology and SaaS businesses will be a huge asset to Ellie Mae as we continue to grow. We look forward to having Dan’s leadership and expertise on our team.”
Most recently, Madden served as CFO for Revel Systems, a cloud-based POS platform, where he led the growing organization’s finance team. Prior to joining Revel, Madden was the CFO at Cepheid, a publicly traded leading molecular diagnostics company, and VP Finance & Corporate Controller at Symmetricom, where he led the company’s finance, accounting, and investor relations functions.
Genworth Mortgage Insurance, an operating segment of Genworth Financial, Inc. has launched GenRATE, a proprietary risk-based pricing engine providing lenders with a more granular approach to pricing for borrowers pursuing the dream of homeownership. The company said that with the introduction of GenRATE, lenders can opt-in to this proprietary pricing solution or choose from Genworth’s standard published rate card.
The new product is the result of market research and a thorough evaluation of customer needs, uncovering that certain segments of lenders have begun seeking more dynamic pricing solutions. GenRATE provides that solution, allowing Genworth to expand its value proposition to meet a broader range of customer needs.
Oklahoma-based Gateway Mortgage Group has launched a new down payment protection program to protect homebuyers against unpredictable and unfavorable market changes. The new program is offered through ValueInsured and has been seamlessly integrated into most of Gateway’s mortgage loan products.
“Gateway is always growing, innovating and seeking new ways to better support homeownership in the communities we serve around the country,” said Alan Ferree, President of Gateway. “This partnership with ValueInsured allows us to differentiate Gateway from other mortgage lenders while providing our customers with a unique option that offers some peace of mind and simply makes sense for certain markets or borrowers.”
Vendorly, a vendor oversight platform for financial institutions, announced the launch of its Contract Management feature to enhance insights into contract terms, performance, and spend analysis within the vendor management solution. Contract Management is available as a new feature for existing customers using the VendorlyTM platform, or as an independent software-as-a-service (SaaS) offering.
In a Vendorly survey conducted earlier this year, 44 percent of banking and mortgage professionals surveyed said their organizations were responsible for managing at least 100 vendors. When asked how often their organizations monitor and assess vendor performance, 30 percent of respondents said annually. With the addition of the Contract Management feature, Vendorly makes it easier to gain valuable insights into contract terms, performance, and spend analysis of third-party vendors. Financial institutions can proactively manage key metadata within a contract and create action date triggers to automate reminders to help avoid missing renewal and other relevant dates and terms.