Industry Briefs June 29, 2023
Fannie Mae Executes Two Credit Insurance Risk Transfer Transactions
Fannie Mae announced the execution of its sixth and seventh Credit Insurance Risk Transfer transactions of 2023.
CIRT 2023-6 and CIRT 2023-7 in aggregate transferred $789 million of mortgage credit risk to private insurers and reinsurers. They were brokered by Aon, and sub-brokered by certified minority business enterprise Protecdiv.
“We appreciate the continued support of the 21 insurers and reinsurers that have committed to write coverage for these deals,” said Rob Schaefer, Fannie Mae Vice President, Capital Markets. “We’re also pleased to continue our long-standing partnership with Aon and begin a new partnership with their new sub-broker, Protecdiv, a company focused on bringing exceptional service and diverse ideas to its clients and partners. We hope their participation will help draw more diverse-led firms into this space.”
Floify Announces New Training, Referral Programs for MBA Members
Floify, Boulder, Colo., announced new educational programs designed for MBA members.
This recently released program aims to delve deeper into the capabilities of Floify to unlock its full power with the following courses:
• Floify 101: Basics – Get comfortable with navigating Floify software and setting up your loan files.
• Floify 102: Template Docs and Application Settings – Master the art of customizing your loan app and automating document requests.
• Floify 103: Pre-Approval Letters and Realtor Partners – Effortlessly generate pre-approval letters and engage Realtor partners.
• Floify 104: Custom Fields, Layouts, Business Rules – Create custom fields and layouts, automate your workflow with smart business rules.
Click here for more information.
Truv Unveils New Features
Truv, New York, announced it’s expanding coverage with a new tax data verification product, which will allow it to expand consumer-permissioned financial data support to the self-employed segment of the U.S. population.
Truv says it will allow consumers to log into their tax prep software, such as Turbo Tax, which gives lenders access to their tax form that was approved by the IRS, to ease the process for both consumers and lenders.
Additionally, Truv announced a new product added to its income and employment verification solution, with the ability to verify income and employment via financial account aggregation. The company says it will help decrease customers’ risk while increasing funded loans through the addition of data to drive more informed lending underwriting solutions.
Mobility Market Intelligence Releases ROI Calculator
Mobility Market Intelligence, Salt Lake City, announced its ROI calculator, which allows lenders to see the impact their referral partnerships have on production volume.
It counts the agents a lender has recently worked with and the percentage of their business, or wallet share, attributed to the lender and identifies the impact increasing that percentage has on production volume.
Lenders can enter their NMLS number and receive insights from the previous 14 months, including the number of buy-side agent partners they’ve worked with, the number of buy-side transactions captured, the percentage of buy-side transactions captured, the volume captured from buy-side agents and the uncaptured volume from buy-side agent partners, among other features.
Lender ToolKit, Reggora Team
Lender Toolkit, Salt Lake City, and Reggora, Boston, announced a new partnership.
The effort enables Reggora’s appraisal management workflow and resulting datapoints to be digitally transferred to Lender Toolkit’s AI Underwriter.
The datapoints are automatically applied to real-time underwriting conditions, helping to reduce a lender’s costs while providing customers with a more efficient borrowing experience.
“We are excited about the integration of our platform with Lender Toolkit’s AI Underwriter,” said Brian Zitin, CEO of Reggora. “The integration eliminates the traditionally manual, mundane tasks associated with identifying and resolving loan conditions, which gives underwriters time to focus on more complex issues.”
