Industry Briefs Aug. 7, 2020

Black Knight: Loans in Forbearance Down 17,000

Black Knight, Jacksonville, Fla., said its weekly loan-level forbearance data showed loans in forbearance fell by 17,000 the week of July 28, dropping the national forbearance rate to 7.7%.

Black Knight estimated 4.1 million loans that remain in active forbearance as of July 28. It noted noticeable declines among GSE (-30K) loans as well as loans held in portfolio and private labeled securities (-5K), FHA/VA forbearances rose for the third consecutive week (+18K) reaching their highest level since early July.

STRATMOR: Mortgage Banking is a Balancing Act

Finding the right balance when making decisions that often involve competing objectives in strategy, risk management, capital markets and operations is critical for mortgage bankers, STRATMOR Group advises in the firm’s latest monthly Insights Report.

“Without forward-thinking management making prudent investments in people, processes and technology, lenders will quickly find that the world passes them by,” according to Senior Partner Jim Cameron in the article “Mortgage Banking is a Balancing Act.”

There are times when radical action is required to effect change, and it forces companies to think in new and different ways, the STRATMOR report notes. “But on a day-in, day-out basis, most of us don’t operate in a world of extremes – it’s all about balance,” Cameron writes. “Mortgage banking executives must exercise great discipline and judgement in order to ensure the long-term viability of the enterprise versus operating solely in the world as we know it today.”

Click here to access the report.

Arvest Bank Rolls Out SimpleNexus Mortgage Platform

SimpleNexus, Lehi, Utah, announced more than 200 retail loan officers at Arvest Bank will soon begin offering borrowers and referral partners a more streamlined mortgage experience powered by SimpleNexus.

Arvest operates more than 270 branches in four states and holds more $20 billion in total assets. SimpleNexus’ mortgage origination toolset is built with mobile in mind but works from any device. Borrowers can start a loan application on a desktop computer and finish it on a mobile phone, and loan officers can order credit reports, run pricing, send pre-approvals and sign disclosures from the field using a mobile device. The platform unites loan officers, borrowers and referral partners throughout the loan life cycle for easy communication, efficient document exchange and transparent milestone updates.

Fiserv Launches Financial Planning, Forecasting Capabilities

Fiserv Inc, Brookfield, Wis., launched a real-time forecasting and budgeting platform. Axiom Planning and Profitability, a software-as-a-service platform, is offered through a relationship between Fiserv and Syntellis Performance Solutions, a provider of enterprise performance management software, data and analytics.

Axiom Planning and Profitability is a financial planning and analysis platform that includes budgeting, forecasting, profitability analysis, scenario modeling, long-range planning and management reporting. The solution will be integrated with the Prologue suite from Fiserv, a set of technologies designed to analyze financial health, enhance reporting accuracy and proactively manage risk.