In the latest episode of the Lend Academy Podcast I interview James Herbert, the President and co-founder of LendingHome. We talk about how they have been able to scale so quickly, their goals for the business and where he sees the industry going.
The largest mortgage lender in the U.S. has confidentially filed for an IPO according to CNBC; the report indicates the...
NY based Quontic Bank saw retail deposits grow by 261 percent to $200mn and their retail customer base double in...
"Rocket Mortgage has forever changed the way people think about getting a mortgage," said Jay Farner, CEO of Quicken Loans; for 2016 Quicken Loans has reported record originations of $96 billion with $7 billion contributed by Rocket Mortgage which has been originating loans for 11 months; consumers have reported high demand for the Rocket Mortgage product which provides a much simpler process for homeowners by digitally verifying income, credit, assets and property valuations. Source
The online lender is now able to originate mortgages in 27 states, with hopes of expanding to all 50 soon; included in their announcement about the New York license was overall originations reached $1 billion in December, $100 million of which were mortgages; SoFi Chief Revenue Officer Michael Tannenbaum said, "The plan is to continue to roll out a state licensing strategy, our licensing strategy mirrored places where there were large jumbo balances."; SoFi also believes their cross buying strategy and the $1 billion infusion from SoftBank has helped them weather the storm of the last year; in a separate announcement, the online lender has moved their office to 860 Washington Street in New York's Meatpacking District. Source
Figure Technologies recently spun out their technology, Provenance Blockchain, as they aim to cut down 70 percent of closing costs;...
The Financial Times digs into a regulatory filing released yesterday that shows how voting control will be organized after Quicken...
Quicken Loans parent company, Rocket Companies, filed their paperwork to go public on the NYSE and will likely price before...
Automated mortgage transaction technology firm Roostify has announced Frank Gelbart as its new chief revenue officer; Frank Gelbart has over 20 years of experience with technology companies and was previously president, CEO and co-founder of Appfluent Technology; Roostify is a fast growing startup and is currently partnering with JPMorgan for mortgage lending technology innovation. Source
Southern Cross Financial is seeking to take advantage of New Zealand's expanding real estate supply with challenges in traditional mortgage lending; on December 1, the firm will become a P2P mortgage lender, evolving from a mortgage brokerage business; the firm has been arranging loans between alternative credit consumers and approximately 150 investors as a mortgage broker; the new P2P structure will provide a more standardized process for borrowers and investors. Source