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Mortgage infrastructure platform Pylon raises $8.5M in seed round

Housing Wire

million in its seed round to build a mortgage-as-a-service platform for fintechs, banks and retail banks. The product is currently deployed with early design partner customers via a private beta, and Pylon plans to use the funding for product development and talent recruitment. . Startup Pylon raised $8.5

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Fintech Maxwell launches POS feature that offers tailored workflows for lenders

Housing Wire

Wells Fargo -backed mortgage fintech Maxwell rolled out a point-of-sale (POS) feature that offers tailored workflows and integrations. Lenders can also define workflows and business rules for any mortgage product, including construction loans, manufactured home loans, home equity loans and bridge loans.

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Michael Eising receives the Ken Markison Legacy Achievement award

Housing Wire

The Mortgage Bankers Association (MBA) presented its annual Ken Markison Legacy Achievement award to Michael Eising, a vice president and mortgage compliance manager at Merchants Bank of Indiana. He authored Nationwide Mortgage Licensing System (NMLS) licensing courses for more than a decade.

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Rhode Island historian uses a reverse mortgage as an estate planning tool

Housing Wire

A proprietary reverse mortgage from Finance of America Companies (FOA) now secures the home of Rhode Island ’s honorary historian laureate after the property was returned to the owner after attempts to bequeath it to a nonprofit historical society he founded. This is according to reporting from The Providence Journal.

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‘There will be bank failures,’ Fed chief tells lawmakers

Housing Wire

We have identified the banks that have high commercial real estate concentrations, particularly office and retail and other [property types] that have been affected a lot,” Powell said. trillion in residential mortgage debt as of first-quarter 2023. Still, small banks are more exposed to commercial mortgage debt than larger banks.

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Rocket goes local: Testing the waters or shifting its strategy? 

Housing Wire

When the Federal Reserve slashed interest rates to zero on March 15, 2020 and set off an extraordinary real estate boom, Rocket Mortgage was ready. But more than 80% of Rocket’s volume during those years came from refinancings, data from Inside Mortgage Finance (IMF) showed. Its parent Rocket Companies rode the wave to a stunning $9.4

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Homepoint COO Lisa Patterson to speak at Spring Summit

Housing Wire

Patterson will be joined on the panel by Dave Vermillion , founder and CEO of Mortgage Champions , and Fred Bolstad , executive vice president of retail lending at U.S. Bank Home Mortgage. Patterson has led Homepoint’s third-party originations business since 2015.

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