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Eye on the Industry Updates on Citadel Ellie Mae and more …

first_img Citadel Ellie Mae Lead Generation Lender loan servicing mortgage Nordis Technologies PennyMac Product Platform real estate REMAX technology 2018-03-15 Radhika Ojha From awards and technology platforms to new partnerships gauge the pulse of the mortgage and lending industry in this weekly update.California-based non-prime wholesale residential lender Citadel Servicing Corporation (CSC) has announced a major update to their product platform. Effective immediately, CSC will begin offering a 5/1 Hybrid Adjustable Rate Mortgage (ARM) and 5/25 Interest Only (IO) term. This now allows borrowers to qualify on the IO program without as big of a recast, which normally would increase the DTI that is used to qualify. CSC has also introduced their easiest qualification program for full doc income to date by allowing a single year’s Returns or W-2 as documentation. This will allow brokers and borrowers to move faster through the process. The company has also expanded their 12-month bank statement program to 90 percent loan-to-value (LTV) with no mortgage insurance requirement. CSC has eliminated the need for 24 months of bank statements on the Maggi program, again adding speed and efficiency to the process. The lender fee on the Maggi (Alt-A) product has been decreased from $1,195 to $995. Furthermore, all rates on all products have been decreased by as much as .25 percent. “We believe the time is right for these product updates, and considering our last five years of loan performance, these changes warrant incorporation”, said Will Fisher, SVP of Sales and Marketing for CSC.______________________________________________________________________________Pleasanton, California-based Ellie Mae, which provides a cloud-based analytics platform for the mortgage industry, announced that its platform, Velocify, was recognized with a LeadsCouncil LEADER award for outstanding performance and innovation in the lead generation industry. Velocify is the recipient of one of only six coveted accolades awarded annually by the LeadsCouncil organization, the company said in a statement. The LeadsCouncil LEADER Awards are the online lead generation industry’s first and only independent award program designed to acknowledge outstanding lead generation and lead technology companies. “It’s incredibly humbling for Velocify to be recognized by LeadsCouncil and our industry peers for being a top innovator,” said Nick Hedges, SVP, Consumer Engagement Strategy at Ellie Mae. “With Ellie Mae, we’re continuing our commitment to innovation and launching initiatives like enriched text messaging in LeadManager to better mobilize sales organizations and give them the tools they need to provide a winning consumer engagement experience.”_______________________________________________________________________________Nordis Technologies, based in Coral Springs, Flordia, has secured a major new customer, PennyMac Financial Services Inc., a leading national residential mortgage lender and loan servicer, for its print and mail services. Nordis is ramping up production and distribution of loan servicing communications to PennyMac’s more than 1 million customers. It expects to handle hundreds of thousands of pieces a month for PennyMac by the end of 2018. “We are focused on helping companies like PennyMac enhance their customer communications with innovative technology-enabled solutions,” said Ronnie Selinger, Founder, CEO, and President of Nordis Technologies. “We’ve collaborated to develop a solution that can easily handle the volume of PennyMac’s customer documents.” Nordis offers state-of-the-art production and distribution services for print and electronic communications, including variable, print on demand, full-color digital printing and data processing. The company operates fully redundant and secure operations in Florida and Nevada, serving leading companies in financial services, healthcare, and hospitality.___________________________________________________________________________________Real estate brokerage firm RE/MAX acquired booj, an award-winning Colorado-based web design, and technology company as part of its technology strategy. Moving forward, RE/MAX will leverage the capabilities of booj and other strategic partners to deliver core technology solutions designed for and with RE/MAX affiliates, the company said in a statement. The acquisition will help RE/MAX use technology platforms that create a distinct competitive edge for its brokerages and agents and complement other tech products they choose to use. “Our strategy is to serve the industry’s most productive agents by providing technology that saves them time, connects them to buyers and sellers, helps them leverage the brand and its many competitive advantages, and ultimately enables them to be even more productive and successful,” said Adam Contos, RE/MAX CEO. Share March 15, 2018 717 Views center_img Eye on the Industry: Updates on Citadel, Ellie Mae, and more … in Daily Dose, Featured, Newslast_img read more

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