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Industry News

ICE reports strongest mortgage revenue in over 3 years

Earnings, Industry News, Mortgage technology, Originations /

Profits for Intercontinental Exchange’s mortgage technology operations remained in the black for the third straight quarter, as the company touted its software adoption even as customers adjusted for recent slowdowns in volume.   Processing Content Revenues for the mortgage unit increased to approximately $532 million in the fourth quarter, increasing from $528 million in the previous […]

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HEIs see boost from investors but also legal setbacks

Home equity loans, Industry News, Originations, Secondary markets /

Economic trends look to be a primary driver in growth of the home equity investment segment, which is seeing investor interest and liquidity enter the market in the new year but also ongoing legal obstacles.  Processing Content Current housing costs are paving the way for consumer uptake. In a survey conducted last summer by HEI

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Newrez bets on tech as MSR losses drag Q4 results

Earnings, Industry News, Servicing /

Newrez is leaning into technology investments to shore up borrower recapture and future originations after fair-value losses in its mortgage-servicing rights pushed the lender to a fourth-quarter loss, underscoring how quickly market volatility can upend mortgage earnings.   Processing Content Fair-value losses in mortgage-servicing rights helped push total net income at Rithm Capital’s mortgage subsidiary

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Rithm takes minority stake in servicing platform Valon

Rithm takes minority stake in servicing platform Valon

Artificial Intelligence, Industry News, Mortgage technology, Servicing, Technology /

Rithm Capital is boosting its investment in servicing technology provider Valon, taking a minority equity ownership stake and expanding on their existing business partnership. Processing Content With the move, Rithm expects to reduce costs for its home finance subsidiary, Newrez, and further scale development of Valon’s artificial intelligence-backed operating system “to modernize the $13 trillion

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Nexa ordered to pay Platinum One $280,000 in damages

Industry News, Law and legal issues, Mortgage brokers /

The latest chapter in the legal battles between Nexa Mortgage cofounders favored Mat Grella and his company, Platinum One Lending, as a Michigan judge dismissed Nexa CEO Mike Kortas’ claims. Processing Content Judge Michael Warren ruled that $350,000 transferred to Platinum One was an equity investment from Nexa, not a loan, like Kortas claimed. He

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Onity, Crosscountry, Blend, MBA make leadership moves

Onity, Crosscountry, Blend, MBA make leadership moves

CAREER & COMPENSATION, Career advancement, Career moves, Industry News /

Left to right: Brandon Bean, Scott Henley Planet Financial Group recently added retail lending veteran Brandon Bean as senior vice president, national fulfillment. In his new role, Bean will be tasked with driving growth of the Meriden, Connecticut-based company’s distributed retail division. He joins the company after most recently holding the title of senior vice

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Embrace sees Mid Atlantic growth from Oceanfirst deal

Embrace sees Mid Atlantic growth from Oceanfirst deal

Industry News, M&A, MARKETING TO BORROWERS, Originations /

A new deal between Oceanfirst Bank and Embrace Home Loans has led to the latter expanding its presence in the Mid Atlantic region, a model that could provide a roadmap for other companies, it said.       Processing Content Following the New Jersey-based bank’s decision to terminate in-house mortgage lending last year, the two companies agreed to

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Go Mortgage appoints Jay Promisco as CEO

Go Mortgage appoints Jay Promisco as CEO

CAREER & COMPENSATION, Career moves, Industry News /

Go Mortgage has named longtime lending executive and technology advocate Jay Promisco as CEO. Processing Content The former president of Sierra Pacific Mortgage, Promisco moved over to take the helm at Columbus, Ohio-based Go after the acquisition of originations assets belonging to his previous company last year. The news was first reported in The Mortgage

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Attom acquires investment technology platform Resishares

Attom acquires investment technology platform Resishares

Industry News, M&A, Mortgage technology, Originations, Technology /

Real estate data provider Attom is acquiring the assets of a former residential investment firm, a move that aims to expand its technology and artificial intelligence holdings and support scalability for both platforms.  Processing Content The merger with Resishares complements Attom’s own access to housing data across the country and expands it to accelerate development

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