Industry Briefs, Feb. 2, 2024

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Freddie Mac, Fannie Mae Announce Single-Family Social Bond Frameworks

Freddie Mac and Fannie Mae last week both announced updates to their single-family social bond frameworks.

Both GSEs, in conjunction, released a new Single-Family Social Bond framework which includes updates to their mortgage-backed securities (MBS) disclosures. The GSEs said the updates will further support underserved borrowers’ access to credit and housing.

As part of the framework updates, Freddie Mac and Fannie will rename their existing Social Index as the “Mission Index” in February 2024 and update the formulation of the index in May 2024 and February 2024, respectively. The renamed and reformulated Mission Index will begin to apply to pools issued by Freddie Mac beginning in June 2024 and for Fannie Mae beginning in March 2024.

BlackFin Launches MAX

BlackFin, Englewood, Colo., announced the launch of MAX, a business intelligence software solution utilizing artificial intelligence and machine learning.

The new offering will aid executive decision-making by allowing any institution to integrate data from different systems into a singular dashboard.

Then, the tool will use AI and MI algorithms to instantly provide business decision recommendations.

Snapdocs, LenderLogix Team

Snapdocs, Covina, Calif., and LenderLogix, Buffalo, N.Y., have announced an integration between Snapdocs’ eClosing platform and LenderLogix LiteSpeed point-of-sale to further streamline digital closing.

The integrated systems will allow borrowers to start and complete their mortgage transactions within one platform.

Snapdocs’ open API enables data from the eClosing platform into LenderLogix, allowing lenders to receive closing updates in real time.

Floify Releases Survey Findings

Floify, Boulder, Colo., released an independent study of 150 loan originators to gain recruiting and retention insights.

Among survey results: 89% of high-performing loan officers said that not having access to digital mortgage tools would be a reason to consider moving to a different company; 95% said flexibility to customize the technology they use is the top factor to their success.

Additionally, 89% of top-performing LOs said they would seriously consider leaving for another company if there was a 20% increase in compensation.