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From new appointments and partnerships to new technology and product expansion, get the latest buzz on the industry in this weekly update.
The StoneHill Group, an Atlanta-based, veteran-owned provider of quality control, due diligence and mortgage fulfillment services has expanded its mortgage lender support services to help lenders, including banks and credit unions for cost-effective operations.
Since hiring and training staff is time-consuming and expensive, lenders often outsourced underwriting, processing, and other origination tasks when loan volumes fluctuate, StoneHill said that its expanded services for mortgage lenders offered variable cost structure for its services so that clients only pay for the work they need.
“Almost every day, someone asks me how they can save money originating loans in this environment,” said David Green, Founder, and CEO of The StoneHill Group. “For many, the best option is to outsource some or all of their origination work to The StoneHill Group. Once they do, they can stop worrying about whether they have enough staff, and they can rest assured that their critical processes will be completed on time and within budget.”
San Diego-based ClosingCorp, a leading provider of residential real estate closing cost data and technology for the mortgage and real estate services industries, has announced that it is enhancing its SmartFees® service by incorporating the CoreLogic Property Tax Estimator. This service will help further improve the accuracy of loan estimates (LEs) in the origination process, and provide better data to mortgage professionals. The integration will be complete and the service will be available third quarter 2018.
“ClosingCorp has a strong focus on quality and accuracy and we are excited to help further that effort,” said Nancy Langer, Executive, Real Estate Tax and Payment Solutions at CoreLogic. “Lenders nationwide have specifically requested that we integrate with ClosingCorp to deliver a seamless process within the origination workflow and we’re pleased to be able to deliver our service through this highly reliable channel.”
Washington, D.C.- headquartered national, nonpartisan nonprofit, NeighborWorks America, recently announced the appointment of Marietta Rodriguez, as President and CEO of NeighborWorks America. Jeffrey Bryson, who served as interim President and CEO for the nonprofit since September 2017, will remain on board until August 17, according to a statement by NeighborWorks America. Bryson, who previously served as NeighborWorks America’s general counsel and corporate secretary, has been with the nonprofit for 31 years and plans to retire after the transition.
Rodriguez has been with NeighborWorks for 20 years and most recently, she worked as interim SVP for national initiatives, where she managed a national down payment assistance program totaling more than $300 million to support over 17,000 new homebuyers since 2012. Additionally, she created an innovative business practice, enabling NeighborWorks organizations to operate their homeownership programs sustainably. Participating member organizations increased homeowners by 64 percent while decreasing service delivery costs 43 percent, and increasing revenue by 101 percent more than their own baseline.
“NeighborWorks America is pleased to welcome Marietta into her new role,” said Grovetta Gardineer, Chair of the NeighborWorks America's Board of Directors and Senior Deputy Comptroller for Compliance and Community Affairs at the Office of the Comptroller of the Currency. “Marietta brings a breadth of experience and knowledge to the position, with a proven record of leadership and accomplishment, and I look forward to working with her in this new role.”
Costa Mesa, California-headquartered SaaS loan origination technology solutions provider, LendingQB, has announced a partnership with the STRATMOR Group to provide lenders with the MortgageSAT Borrower Satisfaction Program. This management tool gives lenders the control, visibility and context they need to manage and improve the borrower experience.
This integration will help customers of LendingQB survey every borrower within 24 hours of closing. Direct, instant borrower feedback, along with deep insights about the loan process and the people involved, will enable lenders to pinpoint sources of borrower dissatisfaction and quickly take corrective action. MortgageSAT scores everyone (the loan officer, processor, underwriter, and closer) and measures the borrower’s perception of the entire loan process with analysis by region, branch, and the individual employee. The MortgageSAT program launched recently with select lenders across the country.
Through this integration, lenders who were previously limited to measuring success based only on internal measurements and historical results will now have access to benchmarking data that shows how their satisfaction and Net Promoter Score (NPS) compare to their peers. MortgageSAT’s National Benchmark data is available 24/7 in a real-time web portal.
