April 2024

Busy is Good

So far in 2024, the needle hasn’t moved much regarding the velocity of origination volume. But while the pace and stability are producing an underwhelming rate of origination for most standard products, it is fueling a very good year for alternative loan products and private label securitizations. Non-QM, closed-end seconds, HELOCs and prime jumbo originations have all been gaining traction over the last six months, and securitizers are once again able to safely price new deals within acceptable ranges. In fact, KBRA expects the volume of private-label deals to double in 2024 vs. 2023. To handle the growing volume, our Clayton solution has recently increased staffing by 30%. And that’s the kind of good news that we like to share. Want to learn how Clayton can help elevate your business? Let’s connect at the upcoming MBA Secondary conference next month.

Pete Pannes
Chief Business Officer

Covius Innovations Recognized by PROGRESS in Lending

Thank you to the Executive Team of PROGRESS in Lending for recognizing Covius as one of this year’s Innovations Award winners. The PROGRESS in Lending Innovations award recognizes companies whose technology and solutions have had significant industry impact. This year Covius was recognized for our innovations in the loss mitigation and home equity space.

Want to see what’s coming next in AI regulation? Look to Europe

If what’s past is prologue, then the U.S. mortgage industry should be looking to the European Union to see what very well might be coming next in terms of AI regulation. In her latest blog for National Mortgage News, Kara Snow discusses the recently passed European AI Act and what implications is could have on the rest of the world as they develop their own AI regulations.

Welcome to the Covius team, Andy Schafer!

We’re excited to announce industry veteran Andrew Schafer has joined Covius as our new Vice President of Business Development for our Settlement Services business. “Andy is a results-driven professional known for developing and fostering mutually beneficial client relationships, including many of the industry’s largest banks’ and non-banks’ servicing operations. He joins Covius at an opportune moment when the demand for our easily integrated offerings is growing among servicers and lenders looking to digitize and outsource critical components and/or differentiate their borrower experience in loss mitigation and home equity,” said Covius Chief Revenue Officer Danny Byrnes

LinkedIn1200x628 Andy Shafer

The Lenders’ Playbook with Mark Cassidy

In case you missed it, check out Mark Cassidy’s interview with Matt Rosen on The Lender’s Playbook podcast. Mark sits down with Matt to talk all things Service 1st, including how a high-touch valuations team can help you with your fix-and-flip and commercial needs and how to navigate technology advancements.

Staying Ahead of the Curve: Navigating Cybersecurity Compliance in 2024

In our industry, staying ahead in compliance, especially as it relates to cybersecurity, is non-negotiable. In her latest Compliance Update video, Jennifer Keys, SVP of Compliance Solutions, dives into a few key regulatory updates and their potential impact to your business.

Upcoming Events

Catch us in a city near you!

ACES Engage
May 19-21
Tucson, AZ
 

MBA Secondary
May 19-22
New York, NY
 

Diversified
Mortgage Expo

May 31- Jun 1
Nashville, TN

ALA Conference
& Expo

May 19-22
Las Vegas, NV

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