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Meet Mortech: Bhushan Suryawanshi

Posted by Alexus Matulka on Mar 20, 2020 12:47:25 PM

 

This week on Meet Mortech we want to introduce you all to our newest Data Engineer, Bhushan! 

 

Favorite part of the job: Getting to know how mortgage pricing works is really interesting to me. I really like the work culture at Mortech (Zillow Group). When I joined Mortech it really helped me to #DoTheRightThing, #TurnOnTheLights and #IncludeAndEmpower.

 

Favorite things to do on his days off: Having home cooked food and play with kids.

 

Favorite places to travel: Hawaii

 

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Mortech named to HousingWire’s 2020 TECH100™ list for innovative mortgage companies

Posted by Alexus Matulka on Mar 10, 2020 9:39:26 AM

 

We are grateful to have been named one of HousingWire’s 2020 TECH100™  top mortgage companies who are revolutionizing the mortgage lending process, announced last week by HousingWire.

 

This year HousingWire decided on their winning list of mortgage companies by focusing its attention on companies that are currently launching the digital mortgage space to the next level. The list includes companies that focus on every aspect of the mortgage process from servicing and secondary marketing to online rate quoting. The goal of creating an end-to-end digital mortgage experience is top of mind for all winning companies.

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The Story Behind Fannie Mae & Freddie Mac

Posted by Anna Deibert on Feb 28, 2020 8:59:22 AM

 

With so much in the news regarding Fannie Mae and Freddie Mac potentially ending the conservatorship, I wondered how long Fannie Mae and Freddie Mac have been around. To stimulate my curiosity, I did some quick digging to see how Fannie Mae and Freddie Mac came to be.

 

To start let’s talk Fannie Mae, also known as the Federal National Mortgage Association (FNMA). Fannie Mae was founded in 1938 by the U.S. government. This was during the Great Depression and the creation of Fannie Mae was part of the New Deal program. With the funds Fannie Mae received from the government, the goal was to have Fannie Mae buy the mortgage loans from private companies and local banks who were struggling financially. With the private companies and banks having more capital and the ability to finance home loans again, the government hoped this would inspire more lending during the economic crisis. 

 

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Get Ahead in 2020 by Offering HomeReady Products

Posted by Alexus Matulka on Feb 13, 2020 12:24:45 PM

With 56% of buyers putting less than 20% down on their home mortgage, according to Zillow Group Consumer Housing Trends Report 2019, providing low down payment programs to borrowers who are shopping online can help you get ahead in 2020. We are excited to announce that we are now offering HomeReady Conforming 15- and 30-Year Fixed products for online quoting across our Marketplace partners.

 

What is a HomeReady mortgage?

 

A HomeReady mortgage is a first mortgage, purchase, or limited cash-out refinance transaction that is specifically designed for creditworthy, low-income borrowers who are looking to put down as little as 3% on their home mortgage. They can be used for both first-time home buyers and repeat borrowers. These products also allow for co-borrowers on the mortgage and contributions made from others living in the home. This is a great benefit for millennials who are looking to buy a home with friends or family members and do not have enough money to fund the loan themselves.

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Meet Mortech: Dustin Giddings

Posted by Alexus Matulka on Jan 17, 2020 2:31:55 PM

 

This week on Meet Mortech we want to introduce you all to one of our new Customer Success Managers, Dustin Giddings! 

 

Favorite part of the job: The best part about working for Zillow is the culture and how they take care of their employees. Mortech is in the Midwest and has a lot of the Midwest values. My favorite part about the job is building the relationships with the customers we interact with on a daily basis.

 

Favorite things to do on his days off: My favorite thing to do is spending the day at our lake/cabin where the girls can swim all day long.

 

Favorite places to travel: Ireland

 

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3 Reasons to Integrate Pricing into Your Loan Origination System Now!

Posted by Alexus Matulka on Jan 10, 2020 9:55:36 AM

Your loan origination system is already a great tool to keep you organized with your borrower requests and help them move from lead to close in an efficient way. Why not add in another layer to make your life easier and to keep moving through borrower leads faster than ever? By integrating your current loan origination system with our pricing engine, Marksman, you will see less manual work, be provided with one central location where you can move through the mortgage process with ease and stay relevant within the digital age.  

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Mortech Announces New Model for Customer Retention Platform

Posted by Alexus Matulka on Jan 8, 2020 10:45:43 AM

We are excited to announce that we have released an improved model for our predictive analytics platform, Mortech Protection. With this platform you can leverage Zillow’s data of more than 195 million unique website users to better align yourself to be the first lender to reach out to potential home sellers. Our new model will allow Mortech to identify a population of addresses within your customer database that are very likely to list for sale, of which 1 in 4 homes will list in the next 90 days.  

 

With 61% of today’s home sellers being synchronous sellers (sold a home and bought another in the past 12 months), according to Zillow Group Consumer Housing Trends Report 2018, being able to flag properties in your customer database that are currently listed for sale, or are very likely to list for sale in the near future can lower the chance of these properties dropping out of your mortgage loan portfolio.

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FHFA Announces Loan Limit Increases for 2020

Posted by Anna Deibert on Dec 6, 2019 10:59:32 AM

It’s that time of the year again. On November 26, 2019 the Federal Housing Finance Agency (FHFA) announced the new adjusted 2020 loan limits. With these adjustments, most of the U.S. counties will see an increase, while 43 counties will remain unchanged. Loan limits did not decrease anywhere in the U.S. or its territories.

 

For Contiguous States, District of Columbia, and Puerto Rico the maximum conforming loan limits for 2020 are as follows:

 

1-unit     $510,400

2-unit     $653,550

3-unit     $789,950

4-unit     $981,700

 

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Meet Mortech: Abhi Sahu

Posted by Alexus Matulka on Dec 4, 2019 8:14:56 AM

 

This week on Meet Mortech we want to introduce you all to our new Product Manager, Abhi Sahu! 

 

Favorite part of the job: My favorite part of the job is being able to play multiple hats at Mortech such as shipping the best products, having empathy for the customers, and constantly finding new ways to innovate. I joined Mortech as it is one of the most innovative companies under Zillow Group. I get a lot of leadership and ownership opportunities. The culture here is also amazing!

 

Favorite things to do on his days off: I love photography, working out, watching sports and planning spontaneous trips.

 

Favorite places to travel: Scotland Highlands and Seattle

 

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3 Benefits of Integrating Pricing into Your Point of Sale Platform

Posted by Alexus Matulka on Nov 1, 2019 9:04:51 AM

With 53% of buyers using online resources when looking at financing options, according to Zillow Group’s 2019 Consumer Housing Trends Report, having mortgage rates from Mortech’s pricing engine integrated into your digital point of sale platform is a great way to present a consistent experience throughout the loan process. With point of sale integrations, Mortech is looking to improve the digital mortgage experience not only for lenders, but home buyers too.

 

Singular platform throughout application process

The mortgage application process can be daunting for many, especially for new buyers. Millennials specifically, are looking to do everything online including researching mortgage rates. 

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