Industry Watch: Mr. Cooper, Sagent to build cloud platform, ReverseVision acquired and more

OptiFunder has announced new integration with the Fannie Mae Connect Whole Loan Purchase Advice Seller API, expediting the processing and reconciliation of purchased loan data for mortgage bankers. OptiFunder syncs data from Fannie Mae automatically, eliminating the manual process of obtaining purchased loan data, and performs the computational logic required to process and reconcile purchase advices with the client’s LOS. The automated workflow, according to a statement from OptiFunder, allows originators to simplify and streamline workflow and lower discrepancies. 

Geneva Financial has announced the opening of a new branch location in Montrose, Colorado, led by branch manager Lynn Whipple. 

Incenter has announced a partnership with The National Association of Minority Mortgage Bankers of America (NAMMBA) — supporting its comprehensive programs to bring more women and minorities into the mortgage industry. NAMMBA’s initiatives include Diversity, Equity and Inclusion social impact accreditation for Leaders in Lending (ASIL); the Certified Community Lenders (CCL) accreditation for individuals; scholarships; training; networking; and more.

Carrington Mortgage Services has introduced ProcessIQ as a service to assist brokers in moving loans through their pipelines more easily. With ProcessIQ, approved wholesale brokers have the option of having Carrington process the loan as part of its underwriting, requesting that Carrington’s team handle all of the logistics and work directly with the borrower.

CMG Financial continues to grow its Northeastern presence with the addition of a branch in Auburn, Massachusetts. The new branch, headed by branch manager Patrick Harvey, will serve the greater Massachusetts area.

Constellation Mortgage Solutions has announced that it has acquired ReverseVision, a provider of home equity conversion mortgage (HECM) and private reverse mortgage sales origination software. The acquisition includes ReverseVision’s core platform, ReverseVision Exchange (RVX), as well as RVDOC Composer, which provides customized and compliant reverse mortgage documents, and ReverseVision Sales Accelerator which includes advanced loan modeling and comparison tools. The acquisition of ReverseVision marks CMS’s second in the mortgage space, following the acquisition of origination and servicing software provider Mortgage Builder in 2019.

Mr. Cooper Group and Sagent have announced the execution of a definitive agreement, under which Sagent will buy certain intellectual property rights related to Mr. Cooper’s proprietary, cloud-based technology platform for mortgage servicing, while Mr. Cooper will receive an equity stake in Sagent. The partnership is aimed at creating the industry’s first cloud-native, homeowner-first servicing platform, with Sagent integrating Mr. Cooper’s platform into a cloud-native core to be licensed to servicers. Sagent will begin marketing the cloud-based servicing platform to other companies in 2023.

Stavvy has announced the release of a new suite of tools and workflows on its online platform to support a more secure, transparent and compliant foreclosure process. The new workflow allows default servicing teams and law firms to transparently share, view, give feedback, sign and notarize any document on one single platform. All parties using the suite will be able to notify and contact each other in real time and view documents simultaneously. Full encryption, revision history, meeting details and an audit trail are included in Stavvy’s platform. The software is also compliant with MISMO RON standards and best practices.


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