TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1205400
M R EP O RT | 9 MTECH FROM THE SOURCE READ THIS "THE 4-HOUR WORKWEEK: ESCAPE 9–5, LIVE ANYWHERE, AND JOIN THE NEW RICH" by Timothy Ferriss This work by Timothy Ferriss turns the old concepts of retire- ment and the workweek upside down. The 4-Hour Workweek provides a blueprint as to how the author went from making $40,000 per year to making $40,000 a month—and working just four hours a week. The expanded version of this book offers more than 50 tips and case studies from readers who have doubled their income, overcome common sticking points, or re-invented themselves. SHARE THIS CONNECTEAM Connecteam allows business owners to manage all their employees from one place. The app allows you to manage daily communications, track time, schedule jobs, and oversee operational procedures. The product also has an internal communication feature, including customizable chat options with private or group options, an employee directory, updates through channels, surveys, and more. Business owners can also use the app for employee training, conduct quizzes, and add policies with a read- and-sign option. The application offers a free option, but it also provides plans ranging from $29 to $119 a month. TWEET THIS #HOUSINGSUPPLY With affordability continuing to be an issue for many markets across the nation, the supply of available homes will be a key point for the housing market in the coming year. The Census Bureau reported in December that residential construction spending fell 0.9% to $508.2 billion in October. New single-family housing construction rose 1.6% from September to $279 million but is down 3.1% year-over-year from October 2018's $288 million. Stay on top of the trends involving this important topic. WATCH THIS PURSUING PROGRESS IN MORTGAGE LENDING Rocky Stubbs, SVP and Head of Digital and Direct Lending, Flagstar Bank (and a member of the MReport Editorial Advisory Board), discusses the power of technology in this exclusive interview. Check out Stubbs' insights on the state of fintech and where it's headed by visiting theMReport.com and searching "Rocky Stubbs" to view the video. origination team to extend its preex- isting footprint and rapid expan- sion in the Chicago market," said Anatoly Nirshberg, CEO of HausM. "Now that we are expanding to Chicago, we believe the power of HausM and ParadigmNEXT, in conjunction with Absolute's foundation, will rapidly expand our vision for technology-based retail mortgage originations. Over the next 12 months, our focus will be refining consumer education of available loan products and how each consumer engages with a mortgage application and brand," said Matthew VanFossen, CEO of Absolute Home Mortgage. The private transaction has been approved by Absolute's board of directors. Terms of the deal were not disclosed. Once completed, John Sedej will lead the Chicago division of Absolute as regional manager. Absolute will continue to operate from its Fairfield, New Jersey, headquarters. Simplist Digital Mortgage Marketplace Expands to California POTENTIAL BORROWERS NEED TO ONLY COMPLETE ONE APPLICATION TO FIND MORTGAGE DEALS. S implist announced it has expanded its footprint and is now licensed to help pro- spective and existing homeowners in California find mortgages as unique as they are. Simplist's platform, combining industry expertise and advanced technology, helps prospective and existing homeowners alike to navigate the byzantine mortgage procurement process with speed, security, and ease. Potential bor- rowers need only complete one simple application, and Simplist searches more than 50,000 op- tions to identify the mortgage deals that best meet the indi- vidual's unique needs—whether they have W2 income or a more complex credit profile. Moreover, Simplist serves as the single point of contact throughout the entire mortgage origination process, acting as a guiding light in the customer's homebuying or refinancing journey. "As the nation's most populous state, California is a strategi- cally important market for us," said Anthony Sherman, CEO at Simplist. "We started Simplist with the aim of making home- ownership attainable for a broader cross-section of borrowers, and this latest expansion aligns with that goal. Most of all, we take pride in ensuring the mortgage application process is delightful from start to finish—and we're looking forward to now bringing that same level of service to bor- rowers in California." Simplist announced its soft launch last year, serving customers in five U.S. states and has plans to significantly broaden its geographic reach in 2020. This latest develop- ment comes amid noteworthy disruption in the mortgage indus- try, as technological innovation supports an improved customer experience and drives cost savings. Simplist is at the forefront of this trend, leveraging seamless integra- tions with trusted fintech partners and credit reporting agencies, as well as advanced proprietary tech- nology that is able to determine most applicants' eligibility for loans in minutes. Chris de la Motte, President of Simplist, added, "Homeownership remains a cornerstone of the American Dream, yet many Californians face significant barriers when it comes to getting into their dream home. With our expert guidance and enhanced technologi- cal efficiency, we believe there is a tremendous opportunity to make that dream a reality for more eligible borrowers in the Golden State." Offering a seamless, tech- driven user experience, Simplist is well positioned to serve the largest pool of prospective home- owners in the U.S.: the digitally native millennial generation. Mr. de la Motte noted, "Our offer- ing continues to resonate with first-time homebuyers, but we are also seeing a tremendous appetite among existing homeowners—in- cluding Gen X and baby boom- ers—who only wish that the process had been this easy when they first bought their home."