{"id":118674,"date":"2024-05-30T06:00:02","date_gmt":"2024-05-30T10:00:02","guid":{"rendered":"https:\/\/www.send2press.com\/wire\/?p=118674"},"modified":"2024-05-29T18:10:02","modified_gmt":"2024-05-29T22:10:02","slug":"dark-matter-technologies-enhances-the-empower-los-with-native-support-for-mortgage-assumptions","status":"publish","type":"post","link":"https:\/\/www.send2press.com\/wire\/dark-matter-technologies-enhances-the-empower-los-with-native-support-for-mortgage-assumptions\/","title":{"rendered":"Dark Matter Technologies enhances the Empower LOS with native support for mortgage assumptions"},"content":{"rendered":"

JACKSONVILLE, Fla., May 30, 2024 (SEND2PRESS NEWSWIRE) — Dark Matter Technologies<\/a> (Dark Matter), an innovative leader in mortgage technology backed by time-tested loan origination software and leadership, today announced enhancements to the Loan Assumptions feature in the Empower<\/a>\u00ae <\/a>loan origination system (LOS)<\/a> that make it easier for mortgage lenders and servicers to transfer assumable mortgages to new homebuyers. The Empower LOS is the first mortgage loan origination system to announce native support for loan assumptions, a feat made possible by the system\u2019s flexibility and robust mortgage servicing platform integrations.<\/p>\n

\"Dark
Image caption: Dark Matter Technologies.<\/em><\/p>\n

An assumable mortgage is a type of home loan that allows the transfer of the original borrower’s loan \u2014 including the remaining balance, repayment schedule and interest rate \u2014 to a new homeowner. Although conventional loans are seldom assumable, loans from the Federal Housing Authority (FHA), Veterans Affairs (VA), and U.S. Department of Agriculture (USDA) \u2014 products that account for more than one in five active loans today \u2014 can be assumed if certain conditions are met.<\/p>\n

Typically, buyers must qualify under the loan’s criteria, and sellers need to obtain approval from their loan servicer. The Empower LOS supports the process whether initiated by the seller\u2019s mortgage servicer or the buyer\u2019s mortgage originator and can even work with financial institutions that use a different LOS provider for first-lien origination.<\/p>\n

Mortgage assumptions are gaining popularity in today\u2019s purchase mortgage market, where buyers often face interest rates that are higher than the seller\u2019s existing rate. The FHA recently announced it will adjust the maximum fee mortgagees may charge to process these loans from $900 to $1,800. Scheduled to go into effect on August 19, the change was made to support increased consumer demand by compensating mortgagees \u201cat a rate that is appropriate for today\u2019s market.\u201d<\/p>\n

\u201cAfter successfully piloting our loan assumption capability with a select group of early adopters, we\u2019re incredibly pleased with the progress, success and the general availability of this important feature that consumers and real estate agents are increasingly asking for by name,\u201d said Dark Matter CEO Rich Gagliano. \u201cBy partnering with Dark Matter, mortgage originators and servicers can transfer assumable mortgages for home buyers and sellers in a manner that is compliant and efficient.\u201d<\/p>\n

About Dark Matter Technologies:<\/strong><\/p>\n

Operating with the nimble nature of a startup and the disciplined maturity of one of the industry\u2019s leading providers, Dark Matter Technologies delivers cutting-edge technology, unparalleled automation and relentless innovation to leading mortgage lenders and companies nationwide. For more information, visit https:\/\/www.dmatter.com<\/a>.<\/p>\n

Tags: @dmattertech #mortgagelending #mortgagetechnology<\/p>\n

LOGO Link for media: https:\/\/www.Send2Press.com\/300dpi\/23-0915-s2p-dark-matter-300dpi.jpg<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

JACKSONVILLE, Fla., May 30, 2024 (SEND2PRESS NEWSWIRE) — Dark Matter Technologies (Dark Matter), an innovative leader in mortgage technology backed by time-tested loan origination software and leadership, today announced enhancements to the Loan Assumptions feature in the Empower® loan origination system (LOS) that make it easier for mortgage lenders and servicers to transfer assumable mortgages to new homebuyers. The Empower LOS is the first mortgage loan origination system to announce native support for loan assumptions.<\/p>\n","protected":false},"author":9684,"featured_media":95942,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[39,12804,1,38,10711,14,19632,6,5],"tags":[205,429],"class_list":["post-118674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage-news","category-ap","category-business-news","category-finance-news","category-fintech","category-florida-news","category-jacksonville-business","category-software-news","category-technology-news","tag-depthpr","tag-loan-origination-system","has-post-title","has-post-date","no-post-category","no-post-tag","no-post-comment","has-post-author"],"acf":[],"views":2788,"_links":{"self":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/118674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/users\/9684"}],"replies":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/comments?post=118674"}],"version-history":[{"count":0,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/posts\/118674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media\/95942"}],"wp:attachment":[{"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/media?parent=118674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/categories?post=118674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.send2press.com\/wire\/wp-json\/wp\/v2\/tags?post=118674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}