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Northpointe Bank to shutter its correspondent lending business

Housing Wire

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. Northpointe was the 24th largest correspondent lender , according to Inside Mortgage Finance.

Lending 361
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What happens when borrowers have more control of the lending process?

Housing Wire

Through every financial transaction in a person’s life — whether a mortgage, auto, student or personal loan — there is one constant: the borrower. Yet borrowers have had limited agency in the lending process to date. The smart contract presents the borrower’s lending request to the exchange. ” How it works.

Lending 399
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ConsumerDirect Mortgage rebrands as Real Genius, introduces new tech platform

Housing Wire

ConsumerDirect Mortgage rebranded itself to Real Genius and announced the launch of a modern mortgage application platform to simplify a borrower’s experience. Additionally, the lender promises borrowers a “personalized approach” and “access to veteran mortgage professionals.”.

Mortgage 299
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Mortgage tech firm Volly scoops up Home Captain

Housing Wire

Volly , a mortgage tech company that offers customer relationship management and point-of-sale services for lenders, announced Wednesday the acquisition of mortgage and real estate tech startup Home Captain for an undisclosed amount. The post Mortgage tech firm Volly scoops up Home Captain appeared first on HousingWire.

Mortgage 337
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Deephaven Mortgage re-enters non-QM market

Housing Wire

Like many players in the non-Qualified Mortgage space, Deephaven Mortgage was forced to halt operations in 2020 when liquidity dried up. million security backed by non-QM mortgages that have seasoned for an average of nine months, a presale report from S&P Global Ratings showed. Non-QM lending is poised for growth in 2021.

Mortgage 311
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Fix-and-flip lender Kiavi lays off 7% of employees

Housing Wire

Non-QM lender Kiavi , which specializes in fix-and-flip and investor loans, has laid off 39 employees, sources told HousingWire on Thursday. Because we are in the hard money space, we don’t have a lot of investors willing to buy our assets because of the rate hikes, is what our CEO told us.”.

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Fix-and-flip lender Kiavi finalizes $218M private-label offering

Housing Wire

Kiavi , formerly LendingHome , recently closed a $218 million private-label securitization of unrated short-term mortgages — described as “residential transition loans” (RTLs) by the lender, which serves the fix-and-flip market. billion in originations, up nearly 78% from 2020, according to a recent report by Inside Mortgage Finance (IMF).

Investors 281