New American Taps Origence to Streamline the Application Process
NationalMortgageProfessional.com
Oct 29, 2019
New American Funding has selected the Origence platform as its new mortgage loan origination system. The Origence platform provides lenders a mortgage lending solution that offers a POS and LOS to increase purchase close rates and throughput, while reducing lenders’ cost and cycle time. Origence can scale services to fit the evolving needs of mortgage lenders, significantly reducing manual work and risk.
“We are extremely excited about selecting the Origence platform for our new mortgage loan origination system,” said New American Funding Chief Executive Officer Rick Arvielo. “The platform is designed to improve efficiencies and help simplify the loan application process for everyone. By collaborating with Origence, we are now able to improve the overall borrower experience and help them achieve homeownership faster.”
The end-to-end LOS solution offers point-of-sale and fulfillment systems focused on reducing friction in the mortgage process, while simultaneously increasing pull-through rates through marketing automation.
“We are taking the lead to provide not only a new type of experience for lenders, but also a dramatically improved experience for borrowers,” said Roger Hull, Origence president and chief product officer. “It’s rewarding to see the level of efficiency and profitability Origence brings to the table for our lending partners. We’re excited to be working with New American Funding to help them transform their mortgage lending services by leveraging our platform’s capabilities.”
As company reports second straight quarterly loss, it announces plans to exit its wholesale business by Oct. 31, 2022.
loanDepot, the nation’s second-largest retail mortgage lender, has so far cut nearly 4,000 jobs since the end of last year, but today said it plans to cut something else: its wholesale lending business.
The company made the announcement as it released its earnings for the s...
Q2 net income was up 55% from last year, while originations were down nearly 50% YOY
Facing higher mortgage rates and a cooling housing market, UWM Holdings Corp. (UWM) saw its mortgage originations cut nearly in half in the second quarter, but still managed to increase profit year over year.
The publicly traded parent of United Wholesale Mortgage today rep...