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Michigan attorney general reissues reverse mortgage consumer alert

Housing Wire

The attorney general of Michigan has re-released a consumer alert about the reverse mortgage product category during financial literacy month. The action is designed to inform consumers about the potential pros and cons of taking out these loans, according to an announcement issued by Attorney General Dana Nessel’s office on Monday. “A

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FinLocker raises $17M in Series B funding round

Housing Wire

Louis-based developer of a leading white-label financial fitness and homeownership platform, announced the closure of a $17 million Series B funding round on Tuesday. In addition to product development, FinLocker (a former HousingWire Tech 100 winner) plans to expand its strategic partnerships and collaborations within the mortgage ecosystem.

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2020 HW Vanguard: Robert D’Urbano

Housing Wire

Robert D’Urbano, Chief Information Officer, Freedom Mortgage Corporation. Robert D’Urbano joined Freedom Mortgage in 2005 and guides the development of system improvements and assuring operational readiness of all corporate systems. In June, Freedom Mortgage originated more than $11 billion in loans.

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2020 HW Vanguard: Tony Thompson

Housing Wire

Tony Thompson, Founder and CEO, National Association of Minority Mortgage Bankers of America. Under Thompson’s leadership, NAMMBA launched an initiative called “Mission 2025” in which the company will connect with 50,000 students to bring them into the mortgage profession. It will seek more Millennials, minorities, and women.

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Mortgage AI firm Candor conducts layoffs

Housing Wire

a mortgage artificial intelligence firm focused on automated mortgage underwriting decisions, has conducted layoffs as lenders rush to cut costs. Candor is executing a change in strategy to address the ever-changing mortgage market and to pivot along with client operations,” Tom Showalter, CEO of Candor , said in an e-mailed response.

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Reverse mortgage originator: real estate CE helps close more purchase loans

Housing Wire

When Curtis Mangus of Premier Mortgage Resources in Meridian, Idaho looked into pivoting into reverse after serving decades in the traditional mortgage business, he asked his managing partner at the lender about its reverse mortgage department. You are the reverse mortgage department,” he said. The partner smiled. “

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FHA institutes new payment supplement partial claim

Housing Wire

Department of Housing and Urban Development (HUD) on Wednesday issued a mortgagee letter that implements the Federal Housing Administration ’s (FHA) payment supplement partial claim. Since March 2020, lenders and servicers have provided borrowers with nearly 1.9 million COVID-19 loss-mitigation actions.