TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1345021
8 | M R EP O RT MTECH by TVC Capital. "SimpleNexus has established itself as a fast-paced innovator in the digital mortgage space," TVC Capital Co-Founder and Managing Partner Jeb Spencer said. "First it set the gold-standard for on-the-go usability and now it's defining what a seamless homeownership platform should be. We are excited to support the company as it blazes the trail to creating a harmonious homeown- ership journey." SimpleNexus grew staff by 63% over the last 12 months as it worked to enhance its platform with new features designed to facilitate a more stream- lined, "from anywhere" lending experience for all stakeholders. February 2020 saw the addition of Uniform Residential Loan Application (URLA) support and in-app review of Fannie Mae's Desktop Underwriter® (DU®) findings. July marked the release of SimpleNexus ConnectUs Chat, a messaging feature that supports real-time loan file col- laboration between LOs, bor- rowers, and real estate agents. In August, SimpleNexus debuted SimpleNexus eClosing, which enables hybrid and RON closings for purchase and refinance loans. Also in 2020, an independent, third-party analysis conducted by MarketWise Advisors showed that lenders using SimpleNexus consistently produce more loans and spend less on per-loan operational expenses, receiving nine-times ROI from their spend- ing on the platform. SimpleNexus maintains 98% customer retention. Promoting Affordable Housing MERCHANTS CAPITAL PROVIDES OVER $4B IN CAPITAL IN 2020. I n February, Mortgage bank- ing company Merchants Capital announced that it provided approximately $4.7 bil- lion in financing in 2020, nearly half of which was dedicated to supporting affordable housing preservation and development across the country. Merchants Capital's total year-over-year production saw an increase of 106%. While its Federal Housing Administration (FHA) lending volume remained steady, the company's Government- Sponsored Enterprise (GSE) production through Fannie Mae and Freddie Mac increased 104%, which the company attributes to the expansion of its GSE platform. "We are hyper-focused on advancing our national footprint through continuous strategic investments in our construc- tion, equity, and debt platforms," said Dwayne George, EVP and National Head of Production at Merchants Capital. "We are confident that we can continue to succeed because we have a team of dynamic individuals driven to be the best capital advisors in the business. At a time when many of us haven't seen each other in more than a year due to COVID-19, our entire staff has re- mained optimistic and ambitious. Everyone at Merchants Capital has done a remarkable job of helping us achieve a record year." Merchant reported that its bridge loan product experienced an increase of more than 100% in 2020. "I want to send my congratu- lations to the entire Merchants Capital team, and especially to Dwayne George, whose addition to Merchants in 2020 as head of production made a big impact on our success," said Michael R. Dury, President and CEO of Merchants Capital. "I must also send a much-deserved thank you to every single one of our valued clients, whose partnership and trust in us for their financing needs is sincerely appreciated." Top Lender GENEVA FINANCIAL NO. 1 LENDER IN ARIZONA POLL. G eneva Financial (Geneva), an independent mort- gage lender operating in 44 states and headquartered in Chandler, Arizona, was named the No. 1 Mortgage Lender in Arizona by consumer vote in the 24th Annual Ranking Ari- zona business poll conducted by AZ Big Media. The largest business opinion poll in Arizona, more than 15,000 companies compete annually and about 2,500 winners are profiled in the publication each year. "The companies that are voted into the top 10 are those compa- nies whose customers and clients say are the best companies to do business with, in Arizona," said Mike Atkinson, President and CEO of AZ Big Media. "There is no better endorsement in business than one from your customers." Over 1 million consumers cast their votes based on their opin- ions of the quality of products and services provided and, on with whom they would recom- mend doing business. "We're not the biggest lender in Arizona, but it's not about us, it's about the humans we serve, and their opinion means more to our success than any bottom line" Aaron VanTrojen, CEO of Geneva Financial said in a statement. "Arizona has been the home of our corporate office since incep- tion in 2007, so this honor holds special meaning for us. This is also one of the most competitive housing markets in the nation, further solidifying for me that the human branding and Be A Good Human initiative we launched in 2019 was the right direction for our customers and employees alike." Geneva Financial offers Conventional, FHA, VA, USDA, refinance, reverse, jumbo, and condo financing as well as down payment assistance programs, first-time homebuyer programs, physician loans, and hero loans for first responders, police, fire- fighters, nurses, and teachers. Top Marks FAIRWAY INDEPENDENT MORTGAGE NAMED NO. 1 WORKPLACE IN THE U.S. F airway Independent Mort- gage Corporation, a top five nationwide mortgage lender, announced that it won the 2021 Top Workplaces USA award issued by Energage, an organization which develops solutions to build and brand top workplaces. "There is no better endorsement in business than one from your customers." —Mike Atkinson, President and CEO, AZ Big Media