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First Financial Bank to invest $700M by 2028 in affordable mortgages

Housing Wire

billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. Cincinnati-based First Financial Bank has agreed to direct $2.4

Investing 409
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TD Bank launches three-year plan to invest $10B in affordable homeownership

Housing Wire

New Jersey-based TD Bank has decided to invest $10 billion in affordable homeownership initiatives by 2027, including providing loans and liquidity to the residential lending market. In the mortgage space, TD Bank was a top-35 U.S. billion in loans, down 25% year over year, according to Inside Mortgage Finance estimates.

Investing 420
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Blend narrows loss in 2023, projects confidence in achieving profitability this year 

Housing Wire

California mortgage tech firm Blend Labs narrowed its loss in 2023 by expanding its consumer banking footprint and growing its mortgage consumer base. And it added two new top 100 financial institutions by retail customer base to grow its mortgage customer base. million in 2023, down from a non-GAAP net loss of $182.2

Mortgage 421
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Fortune: Gen X is worried health issues will bankrupt them

Housing Wire

The reverse mortgage industry often aims to position itself as offering products that can provide financial stability in case of market downturns or health issues, but Gen X is still years away from becoming the predominant demographic that can be served by the Federal Housing Administration ’s Home Equity Conversion Mortgage (HECM) program.

Clients 409
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The crypto-mortgage is the new kid on the block

Housing Wire

A rising player in the world of crypto-mortgages and blockchain-enabled financing, LoanSnap, plans expand its reach in the market by opening its lending platform to licensed mortgage brokers across the country in the near future. It’s an open platform. We’re not huge, but we’re not small either.”.

Mortgage 450
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Is UWM’s plan to shed the “meme stock” label?

Housing Wire

Mat Ishbia, president and CEO of United Wholesale Mortgage. The transaction also puts the company closer to the S&P 500 index, which requires a 10% public float level, among other rules, such as having a market capitalization of at least $11.8 billion in residential mortgage loans, an increase of 34% year-over-year.

Investors 369
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The Post-COVID shift: What Amazon and Zillow can’t do

Housing Wire

In February 2019, we wrote an article predicting this seismic shift, detailing how mortgage lenders could and should prepare to not only survive the shift but thrive in the future digital age. They don’t think, “I’m going to fill out a digital mortgage application or I’m going online to do my mortgage application.”