Long-time industry executive Brian Vieaux will be the newest president of the Mortgage Industry Standards Maintenance Organization starting on Oct. 1. Vieaux is currently president and chief operating officer of Finlocker, where he has been with the company since July 2019. Previous roles in the lending side of the business include stints at Flagstar Bank, […]
Brian Vieaux to become new president at MISMO Read More »
The rise of artificial intelligence has sparked both speculation and angst over what it might mean for mortgage professionals in the future, but the answers might be more encouraging than some expect. Historically, advances in automation eventually brought transformations seen during the Industrial and Information Ages, which were marked by the elimination of certain positions.
Mortgage leaders discuss the future AI-powered workforce Read More »
Figure Technology Solutions started trading as a public company and the first moves were substantially higher, according to information on Yahoo Finance. The company priced its offering at $25 per share on Wednesday evening. Early trades, starting around 12:30, put the stock in a range between $32 and $37 per share, with an opening price
Figure Technology goes public, opens at $36 per share Read More »
Figure Technology Solutions priced its initial public offering Wednesday evening at $25 per share. This is $3 per share higher than the last expected price range of between $20 and $22. The first trade is expected to take place on Nasdaq on Thursday between late morning and early afternoon under the FIGR ticker symbol. While
Figure prices IPO above expected range Read More »
Fairway Home Mortgage is working with OpenAI to help improve the efficiency in its loan manufacturing processes. While the use of ChatGPT is just part of that strategy, process improvement to allow loan officers to focus more on their customers is the primary aim, said Caleb Ondrusek, who Fairway promoted to executive vice president of
Fairway turns to OpenAI for origination process improvement Read More »
Recent mortgage fraud discussions have been centered on high-profile occupancy misrepresentation cases, but the bigger question is how these claims can be proven and what level of risk they pose to the industry. For one, the allegations to date, such as a Trump administration criminal referral that a Federal Reserve Board member is fighting, typically
Occupancy fraud scrutiny raises questions for lenders Read More »
Congress faces tough budget negotiations this month over the National Flood Insurance Program reauthorization and other issues, putting the single-family mortgage market on alert. Without a NFIP renewal by Sept. 30, flood coverage could lapse and a broader congressional impasse could cause a new government shutdown, requiring workarounds. What follows are a few of the
How lenders can prep for NFIP lapse, shutdown Read More »
Figure Technology Solutions has increased its expected initial public offering in both size and price, an updated prospectus filed with the Securities and Exchange Commission said. The IPO will now consist of 31.5 million shares of its Class A stock, but nearly 4.9 million of those will come from current shareholders in the company. Figure
Figure boosts size, price of planned IPO Read More »
Figure Technology Solutions has formally launched its long-awaited initial public offering that could bring over $508 million in gross proceeds to the company if the overallotment is exercised. The company is offering over 21.46 million shares, with an overallotment of 3.95 million shares. In addition, 4.85 million shares are being sold by existing stockholders in
Figure Technology seeks $508M in long-awaited IPO Read More »
The ultimate promise of technology in the mortgage industry is to improve the mortgage industry. It is such a simple, straightforward statement. And yet despite massive investments in myriad fintech solutions, improvements remain iterative and difficult to even quantify. Here’s where the disconnect happens. Any significant investment in technology should map to a predictable ROI.
The one question to ask before investing in mortgage tech Read More »