The Mortgage Collaborative launches emerging technology fund

The Mortgage Collaborative, an independent cooperative network in the mortgage industry, today announced the launch of TMC Emerging Technology Fund LP, a venture capital program funded by a self-selected segment of TMC members to capture opportunities driven by the rapid pace of technological change in the mortgage sector.

Inspired by member suggestions during a CEO Roundtable session last year, the fund will pool member resources to level the playing field with the largest lenders in the mortgage industry who enjoy a scale advantage in sourcing, vetting, acquiring and adopting new technology. 

“To stay competitive in today’s market, technology adoption and integration is key.  However, the cost of customized technology solutions for small and mid-sized lenders can be prohibitive and can be difficult to scale,” TMC COO Rich Swerbinsky said. “By launching TMC Emerging Technology Fund, we are providing our members with a mechanism to get ahead of the technology adoption

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A record 19.4 million homeowners can now save on a mortgage refinance

Jb Reed | Bloomberg | Getty Images

The average interest rate on the popular 30-year fixed mortgage has set a record low 13 times so far this year. It did it again last week. That has given current homeowners unprecedented potential to save on their monthly payments through a refinance.

With the latest record low of 2.72% on Freddie Mac’s weekly 30-year fixed average, the number of ‘high-quality’ mortgage refinance candidates jumped to 19.4 million, according to Black Knight, a mortgage technology and data provider. That is the highest volume on record.

Black Knight defines refinance candidates as 30-year mortgage holders with at least 20% equity in their homes and credit scores of 720 or higher, who could shave at least 0.75% off their current first lien rate by refinancing.

These borrowers can save an average of $309 per month by refinancing, for an aggregate $5.98 billion in potential monthly

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ICE Mortgage Technology Announces Encompass 20.2 Major Release

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PLEASANTON, Calif., Nov. 16, 2020 /PRNewswire via COMTEX/ —
PLEASANTON, Calif., Nov. 16, 2020 /PRNewswire/ — Ellie Mae®, the leading cloud-based platform provider for the mortgage finance industry, and now ICE Mortgage Technology™, a division of Intercontinental Exchange, Inc. (NYSE: ICE), today announced the Encompass® 20.2 Major Release will include enhancements for lenders to boost productivity across lending and investing workflows.

“We are constantly innovating to deliver more automation to fuel the digital mortgage on behalf of our lenders,” said Joe Tyrrell, President, ICE Mortgage Technology. “With this major release of Encompass, we are providing new levels of automated service ordering, efficient and collaborative workflows and the foundation for our hybrid eClosing which we are launching in just a few weeks. This is mission critical for lenders, especially when they are experiencing peak volumes, remote workforces and

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