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HUD ends silence on targeted lending programs

Housing Wire

The Department of Housing and Urban Development (HUD) on Tuesday resolved uncertainty around special purpose credit programs, 45 years after Congress allowed lenders to tailor products to groups that have historically been excluded from homeownership. In a legal memo, HUD stated that SPCPs are allowed under the Fair Housing Act.

Lending 437
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Lenders tread carefully around targeted lending programs

Housing Wire

Last week’s announcement from the Department of Housing and Urban Development cleared the way for lenders to adopt targeted lending programs, but so far, they are treading carefully. Special purpose credit programs allow lenders to target loan products to benefit protected classes without running afoul of fair lending law.

Lending 385
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2020 HW Tech Trendsetter: Samir Agarwal

Housing Wire

At Wolters Kluwer, Agarwal has tapped his extensive banking product development experience to create a group of offerings that assist local and regional banks to more effectively scale their operations and processes in support of their consumer-facing offerings.

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Mortgage AI firm Candor conducts layoffs

Housing Wire

Future development projects will follow this collaborative approach with our clients and strategic partners. The company debuted in August 2020 with a mission to automate much of the underwriting process when making income, asset and lending decisions. In August 2021, Candor raised $12.5

Mortgage 346
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Stavvy lands $40 million Series A for aggressive growth

Housing Wire

Notable in light of the current servicing challenges facing the industry, Stavvy’s eClosing technology is designed to facilitate faster borrower communication and closings as servicers work through loan modifications, referrals and forbearance. Presented by: Sagent Lending Technologies.

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SimpleNexus secures $108 million in Series B funding round

Housing Wire

The Utah-based software developer offers a private-label digital mortgage platform and mobile app designed to connect lenders with borrowers and real estate agents. In fact, prior to founding SimpleNexus in 2011, CEO Matt Hansen worked on the Simplifile development architecture team for nearly five years. billion.

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Roostify snags $32 million in its first Series C funding round

Housing Wire

Roostify, which powers the digital mortgage platforms of JPMorgan Chase , TD Bank , Guild Mortgage , HSBC Bank USA and more, allows different lending parties to bring in data and information from online sources that then tailors the homebuying process.

Lending 356