“Because Cloudvirga technology touches every part of the mortgage workflow, from point of sale through closing, it is critical that we take compliance every bit as seriously as do our customers, so we are very excited to have Maria join our team,” said Cloudvirga CEO Michael Schreck. “Her deep understanding of the mortgage industry’s legal and regulatory complexities will ensure that Cloudvirga builds on our leadership position for years to come.”UMortgage will retain its brand and sales culture while moving onto NEXA’s larger operating platform, a model NEXA is openly pitching to other broker owners
NEXA Lending's acquisition of UMortgage, is more than a combination of two prominent broker-channel companies. It also presents a model for other independent brokerage owners weighing the benefits of scale against the cost and complexity of operating alone.Under the deal ann...
Applications fell 5.7% annually in July, while government-backed mortgages accounted for half of builder-affiliated loan volume
Mortgage applications for newly built homes lost ground in July, another indication that builder incentives are struggling to overcome buyers’ sensitivity to elevated mortgage rates.Applications for new-home purchases declined 5.7% from July 2025 and 1% from June, according ...
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