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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 354
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Organizations Expand Affordable Homeownership Mortgage Program

Appraisal Buzz

Bank of America and the Neighborhood Assistance Corporation of America (NACA) this week announced the expansion of their national affordable homeownership mortgage program, with a goal of providing $15 billion in mortgages to low-to-moderate income homebuyers through May 2027.

Mortgage 195
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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 359
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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 398
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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 351
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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. Jacob is not alone in seeing the potential upside for crypto-mortgages and AI-enabled traditional loans.

Mortgage 449
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Mortgage renewals could herald further economic slowdown: analysts

Mortgagebroker News

The impact of renewals could amount to as much as $34 billion by 2027, new report says