Industry Briefs, Feb. 24, 2025
(Image courtesy of Markus Winkler via pexels.com)
Dark Matter Enters Servicing Market
Dark Matter Technologies, Jacksonville, Fla., announced its expansion into the servicing market.
It was previously known as CMS Servicing, which was a part of Mortgage Builder, acquired by the Perseus Operating Group of Constellation Software Inc. in 2019. Dark Matter was acquired by the same group in 2023.
The platform is an enterprise-level cloud-based solution with a full suite of loan servicing capabilities. It currently integrates with the NOVA LOS and will soon integrate with the Empower LOS.
It includes customer service, payment processing and cashiering, escrow management, investor reporting, default management and a white-label consumer portal for borrower self-service. It also supports interim servicing and can manage the printing of consumer disclosures and account statements.
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PennyMac Announces NonDel+
PennyMac Financial Services, Westlake Village, Calif., rolled out a full-service non-delegated solution, NonDel+. It provides an intuitive, end-to-end loan experience within the POWER+ portal.
NonDel+ leverages Pennymac’s expertise and technology in underwriting and compliance, and can facilitate the full end-to-end lending process.
It offers many features in the POWER+ portal, including partner capabilities to generate fully compliant disclosures and documents; advanced pricing tools and dual AUS integration; real-time compliance checks and eligibility reviews throughout the loan process; partner control of loan level fees; access to OptiMIze; streamlined closing process and on-demand support through HELP+ and POWER+ Zoom Rooms.
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Cornerstone Capital Bank Launches Community Lending Division
Cornerstone Capital Bank, Houston, announced it’s launching a Community Lending Division to expand homeownership opportunities for underserved communities.
The division aims to assist 1,000 families in purchasing homes within the first year and help close racial and economic gaps in homeownership.
It will include tailored affordable housing programs, homebuyer literacy outreach and secondary mortgage market products.
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Optimal Blue Rolls Out Ask Obi
Optimal Blue, Plano, Texas, announced Ask Obi, an AI assistant designed to provide mortgage lending executives with actionable insights from their Optimal Blue products and data.
As an example, executives can ask about profitability metrics with simple queries. The tool offers complete access to a lender’s PPE data, with development work underway to expand access across Optimal Blue’s complete capital markets platform.
Optimal Blue planned for it to be available to beta testers in February.
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Click n’ Close’s SmartBuy SAM Now Features Freddie Mac 30-Year Conventional Loans
Click n’ Close, Addison, Texas, announced its SmartBuy Shared Appreciation Mortgage program now features a 30-year, fixed-rate conventional option approved by Freddie Mac.
The SAM program launched last April and offers a below-market interest rate for first-lien FHA, USDA and now conventional loans and a repayable DPA second lien in exchange for a portion 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. It has no restrictions on first-time purchases or income levels.
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Citywide Home Mortgage Opens New Offices Amid 2024 Growth
Citywide Home Mortgage, Chicago, announced it opened 33 new branch offices in 2024 and grew its footprint to all 50 states.
It also increased year-over-year volume significantly, by more than 400%.
Citywide Home Mortgage is part of the Rate family of companies. It has implemented a model of sustainably lean production, which empowers employees to make decisions and utilize a deep pool of resources to promote its diverse product line.
