Zillow purchased Mortgage Lenders of America in November 2018 and now is officially launching Zillow Home Loans as they rebrand;...
JPMorgan Chase ran a pilot last year which offered bonus rewards to customers of their Sapphire credit cards if they closed a mortgage; JPMorgan experienced significant demand from the pilot with homes purchased doubling for those who owned the Sapphire cards; the bank is now expanding the promotion to other credit cards they offer; Business Insider shares more on JPMorgan’s market opportunity and the millennial demographic. Source
On episode 40 I talk with John Paasonen of Maxwell helping lenders serve their communities by channeling mortgage and technology expertise.
According to the WSJ, SoFi is laying off around 65 employees in its mortgage division; these employees worked out of offices in Healdsburg, California and Cottonwood Heights, Utah; the company has about 1300 employees; according to SoFi, the company “made some changes to staffing to ensure we have the right people in the right roles and locations to power our growth.”; at the same time SoFi is looking to fill 175 jobs. Source
Bunq has become one of the first European digital banks to enter the mortgage market with an announcement that they...
The platform aims to provide a better process for both lenders and consumers; Fannie Mae is partnering with various fintechs including Yodlee, FormFree, and Plaid to help build out the platform’s features. Source
According to a New York Federal Reserve report, online mortgage lenders approve loans faster, experience fewer defaults and encourage more refinancing; not surprisingly they are also able to respond to customers as demands shift; the report studied banks and fintechs to better understand the market; lending from fintechs has grown by 30% annually since 2010, from $34 billion to $161 billion, representing 8% of the market. Source
Mortgage fintech Blend is on a roll; Blend’s customer base now accounts for more than 25% of the $2.1 trillion...
The CEO and Founder of Better Mortgage tells us how his company is revolutionizing the home buying process. Source
In a Forbes column, the CEO of Hometap, Jeffrey Glass, discusses credit scores and how most lenders still rely on...