Fairway Mortgage helped give a Veteran a service dog, and now he’s throwing the first pitch at the Brewers opening
This is just about the coolest thing.
The Milwaukee Brewers and Fairway Mortgage recently teamed up to donate a service dog to a U.S. Army veteran.
Veteran Andrew Sievila joined the Army in 2004 and was medically discharged in 2015.
Since then, Sievila said he's experienced irritability and anger outbursts and was diagnosed with PTSD. However, he's found some relief since receiving a service dog: a golden retriever named Willard.
In addition to partnering with Fairway Independent Mortgage Corporation to provide Sievila his service dog, the Brewers have invited him to throw the first pitch at the Cubs game on September 19 at American Family Field.
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iBuyers are beginning to hire MLOs and it seems to be working
Real estate tech disruptors are investing billions to build integrated brokerage and mortgage experiences.
Some have more resources than others, but all have the same scaling bottlenecks. And in the end, the biggest disruptors — and who is most at risk — may come as a surprise.
Enter the iBuyer business model, which looks to take real estate agents and mortgage brokers out of the home purchase process by buying and selling direct to consumers.
In the past, iBuyers have not made a big splash, that may be about to change, according to independent analyst Mike DelPrete.
And they’re doing NOT by taking people out of the process, but by PUTTING THEM BACK IN.
“Each company employs licensed brokers — Mortgage Loan Originators (MLOs) — that occupy a critical position in securing or refinancing a mortgage,” DelPrete said in his latest report. “As with real estate, people remain a central component of the mortgage process, and no amount of technology, venture capital, or inspirational vision has yet to replace them.”
These companies all have different approaches, DelPrete explains, but the destination is the same: an integrated real estate experience that seamlessly combines mortgage and brokerage. And the key execution trends are clear: in-house agents and MLOs, paired with deep discounts for consumers.
“Whether it's being initiated from the real estate or mortgage side, both components are being smartly combined to provide an integrated, highly convenient consumer experience,” he said.
“The companies unable to provide that are the ones at risk.”
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Wells Fargo is taking operations into the cloud
Now, we all know why this is a pretty big deal. One of the biggest banks and a major mortgage lender is finally, FINALLY,moving into tech-first thinking by putting its systems in the cloud —> TEN YEARS FROM TODAY.
Wells Fargo unveiled a decadelong initiative to update its digital infrastructure in part by moving its workloads to cloud services from Microsoft Corp. and Alphabet Inc.’s Google—the latest large bank to make a significant bet on the public cloud.
About 10 years from now, the goal is for all of Wells Fargo’s workloads to be on public clouds, said Saul Van Beurden, Wells Fargo’s head of technology.
“It’s a big, hairy goal” that acknowledges the cloud trends occurring in the banking industry, Mr. Van Beurden said. The advantages of the cloud are speed, scalability and resiliency, he added.
Mr. Van Beurden declined to disclose how much the bank is spending on the move to upgrade its digital infrastructure.
Recently, Wells Fargo has struggled with outages that have underscored technology failures from antiquated systems.
The cloud initiative will allow the company’s technology team to build and deploy applications faster, which will benefit the bank’s customers, said Mr. Van Beurden, who joined the company in 2019 and was previously chief information officer of consumer and community banking at JPMorgan Chase & Co.
Wells Fargo’s effort to modernize its digital infrastructure also includes a plan to decommission its own data centers and move some of its applications to undisclosed third-party data center providers, Mr. Van Beurden said.
About two-thirds of enterprise-level companies use multiple clouds, according to a May report by Boston Consulting Group. By 2025, up to 60% of consumer-facing applications and more than 30% of core business applications will be running on public clouds, according to the consulting firm.
The banking industry still relies on significant amounts of legacy technology, which makes a big push to the public cloud a large and complex undertaking, said Benjamin Rehberg, a managing director and senior partner at Boston Consulting Group who leads the technology practice in North America. “It’s just hard for banks to do this,” he said.
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