TheMReport — News and strategies for the evolving mortgage marketplace.
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M R EP O RT | 5 MTECH • Title & Settlement Solutions • Expense Management • Information Security • HR Management • Compliance Solutions • Marketing & Sales "We believe the rapid growth of our title agent network is large- ly attributable to the popularity of our unique agency model, which leverages WFG's national coverage and local expertise to provide cost-effective solutions and op- erational efficiencies through our WFG Blocks program, which enables agents to convert fixed costs to variable ones," WFG EVP, Agency Operations, Gene Rebadow said. As a result, WFG's overall mar- ket share continues to increase, too. Year over year between Q1 2020 to Q1 2021, it rose by 14.5% and is ex- pected to continue to grow through the balance of the year. "Last year was a banner year for us, and we are excited to report with confidence that WFG is well on the way to surpassing those historic 2020 revenue figures in 2021," WFG CEO and President Steve Ozonian said. Most importantly, WFG continues to receive consistent Net Promoter Score (NPS) ratings from customers, in the high 70s or above—a "world-class" service rating across all industries. "We adopted NPS some years ago," Stone said, "and we are proud to maintain such positive feedback. It has helped WFG measure performance and improve service levels. This, com- bined with the drive of dedicated teams throughout the WFG organization, has us well-poised for success as we embark upon our second decade." Williston Financial Group (Portland, Oregon) is the parent company of WFG National Title Insurance Company, WFG Lender Services, WFG Default Services, Valutrust Solutions, LLC, WEST, and other title, settlement and technology solutions providers. It is one of the fastest growing national title insurance and settlement services providers in the mortgage and real estate services industry. Plaza Home Mortgage Relaunches Solutions Non-QM Program ACCORDING TO PLAZA, THE PROGRAM "WILL HELP BROKERS SERVE THE NEEDS OF THIS MARKET AND GIVE THEM NEW TOOLS, LIKE IO LOANS, TO QUALIFY BUYERS IN HIGH-COST AREAS." P laza Home Mortgage, Inc., a wholesale and correspon- dent mortgage lender, an- nounced that it is re-activating its Solutions Non-QM program, offering loan amounts up to $3.5 million. Known as Solutions Non-QM, the program is available through Plaza's Wholesale channel and will be supported by a dedicated "Scenario Desk" and Non-QM Underwriting team. Initial of- ferings include 12- and 24-month bank statement loans, expanded standard documentation eligibility, and additional flexible documen- tation types to provide financing solutions to more borrowers. "Today, there are more than 10 million self-employed Americans, and that number keeps grow- ing," said Michael Fontaine, Co-President and COO at Plaza Home Mortgage. "Our Solutions Non-QM program will help brokers serve the needs of this market and give them new tools, like IO loans, to qualify buyers in high-cost areas. Our dedicated Scenario Desk and Non-QM Underwriting team will help bro- kers quickly determine borrower eligibility so they can focus on the most viable deals." Founded in 2000, Plaza Home Mortgage, Inc. is a privately owned, full-service national cor- respondent and wholesale lender. Headquartered in San Diego, Plaza is dedicated to building quality, long-term relationships with its correspondent and mort- gage broker clients by offering a wide variety of programs and an exceptional client experience. Mortgage Coach Introduces Integration with LoanSense THE PARTNERSHIP WILL HELP BORROWERS ENROLL IN INCOME DRIVEN REPAYMENT (IDR) PLANS, LOWER DTI. AND UNLOCK IMPROVED HOME FINANCING OPTIONS. M ortgage Coach, a plat- form enabling mortgage lenders to create digital and accurate home loan options for consumers, announced its partnership with LoanSense, an online student loan advisor that helps federal student loan holders enroll in affordable re- payment and forgiveness plans. The partnership equips mort- gage lenders to help homebuy- ers with high monthly federal student loan payments achieve better home financing outcomes by enrolling in federal student loan Income Driven Repayment (IDR) plans and Public Service Loan Forgiveness (PSLF). Despite strong incomes and credit scores, many of the 42.9 million Americans with fed- eral student loan debt are either denied home financing or have reduced home purchasing power because they have higher debt- to-income ratios (DTIs) due to student loans. Many mortgage lenders and consumers do not know about federal IDR plans, which can substantially reduce monthly student loan burden for borrowers of every income level and for borrowers who carry stu- dent debt and did not graduate. Mortgage Coach's partnership with LoanSense gives lenders ac- cess to a purchasing power calcu- lator that determines how much borrowers' monthly student loan payments can be reduced—and how much their home purchasing power can be increased—through enrollment in an IDR plan. Once borrower eligibility is determined, loan originators can electroni- cally refer borrowers who would benefit from enrolling in an IDR plan to LoanSense, where they will receive assistance navigat- ing the complexities of correctly "Today there are more than 10 million self-employed Americans, and that number keeps growing." —Michael Fontaine, Co-President and COO, Plaza Home Mortgage