Industry Briefs, Nov. 12, 2024
(Image courtesy of Markus Winkler via pexels.com)
Optimal Blue Rolls Out Three Product Releases
Optimal Blue, Plano, Texas, announced three major product releases: The expansion of its AI assistant suite, the introduction of Scenario Optimizer and the free availability of Investor Pricing Insight to investor clients.
Optimal Blue expanded its suite of AI-powered assistants within the CompassEdge hedging and trading platform, with the launch of Position Assistant and enhancement of Profitability Assistant.
The Scenario Optimizer has been added to the company’s product, pricing and eligibility engine, to help originators quickly identify the most favorable loan scenarios for borrowers.
The Investor Pricing Insight data solution is now available at no cost to investor users, with new functionality recently introduced.
Guild Mortgage, eHome America Launch MyPath2Own
Guild Mortgage Co., San Diego, and eHome America, Syracuse, N.Y., announced the launch of MyPath2Own, an education-based path to homeownership. It will help first-time homebuyers become “mortgage ready.”
Qualifying customers will receive up to $4,000 in down payment or closing cost assistance.
It’s designed for people looking to purchase a home who don’t currently qualify for a mortgage.
The program includes online courses on money management, homebuyer education and post-purchase education. Customers will also meet with a homebuying counselor before completing the program.
Click n’ Close Enhances Shared Appreciation Mortgage Program
Click n’ Close, Addison, Texas, announced two enhancements to its Shared Appreciation Mortgage Program.
It now offers down payment assistance options of 3.5% and 5% for the program through its Wholesale and Correspondent divisions.
Click n’ Close also has created a calculator for program participants to help educate potential borrowers on the benefits of using the SAM program to purchase a home.
The SAM program, launched in April, offers a below-market interest rate for first-lien FHA and USDA loans and a repayable DPA second lien in exchange for up to 40% of the home’s appreciation during the first five years. After the five-year accumulation period, the shared appreciation amount is added to the second lien and amortized over the remaining term.
NotaryCam Introduces “Done For You” eClosing Program
NotaryCam, Houston, Texas, launched its “Done For You” eClosing program, which will provide lenders with a fast path to eClosings while addressing common hurdles.
It includes seamless integration, advanced document handling and eNote generation and management, the company said.
It can minimize changes to lenders’ existing workflows and partner with title companies on the tools they need to deliver the transactions.
CampusDoor, LoanSense Unveil New Program
CampusDoor, Mechanicsburg, Pa., and LoanSense, Ypsilanti, Mich., announced a new program aimed at homebuyers with student debt.
Currently being tested with some lenders, the program will help lenders lower those borrowers’ student loan payments as well as improve their DTI ratios and increase their budgets.
The program alerts loan officers to borrowers who would benefit from student loan restructuring and then automates the process, among other features.
RanLife Taps Dark Matter Technologies
Dark Matter Technologies, Jacksonville, Fla., announced that it has been selected by RanLife Home Loans, Sandy, Utah, in a seven-year agreement for use of the Empower loan origination system and additional Dark Matter technologies.
RanLife will also be using several products within the AIVA suite of AI virtual assistants, specifically designed and bundled for mortgage origination.
It will also utilize Dark Matter’s integration with Optimal Blue, to provide access to its PPE.
