Housing Wire

DECEMBER 24, 2021

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.

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Housing Wire

DECEMBER 7, 2021

Marcia Fudge, in a missive to her colleagues at the Office of the Comptroller of the Currency , the Consumer Financial Protection Bureau and the Federal Housing Finance Agency. It could be a sustainable lending product for a community where a lender has had poor penetration. A special purpose credit program can take many forms.

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Housing Wire

MARCH 31, 2023

The Consumer Financial Protection Bureau (CFPB) has finalized the rule on small business lending, which fulfills a mandate from Congress and aims to increase transparency while mitigating discrimination. For decades, the government has assembled data pursuant to Congressional mandates on residential mortgages,” the CFPB said.

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Housing Wire

FEBRUARY 17, 2022

Multichannel lender Finance of America (FOA) announced Thursday its chief executive officer, Patti Cook , will retire as soon as the company finds a successor. HousingWire recently spoke with Bill Dallas, President of Finance of America Mortgage, to discuss how brokers can leverage technology to accommodate today’s unique homebuyer.

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Housing Wire

APRIL 24, 2024

Figure Technology Solutions , the parent company of Figure Lending LLC , named Michael Tannenbaum as its new CEO, the company announced on Tuesday. I am humbled to join Mike and this extremely talented team that is setting a new standard for the finance industry and look forward to leading Figure into its next phase of growth.”

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Housing Wire

JUNE 5, 2024

Department of Housing and Urban Development (HUD) this week announced the launch of a new program designed to allow for the purchase, refinance or renovation of manufactured housing under a loan program sponsored by the Federal Housing Administration (FHA).

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Housing Wire

DECEMBER 11, 2020

Yet borrowers have had limited agency in the lending process to date. FormFree, the ATP fintech led by HousingWire Tech Trendsetter Brent Chandler , is launching a blockchain-based exchange for consumers to take control of the lending process. The smart contract presents the borrower’s lending request to the exchange.

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Housing Wire

MARCH 28, 2024

The result is that safe and affordable financing is out of reach for tens of thousands of credit-ready homebuyers looking to purchase a manufactured home. Demand for home-only financing is strong; in 2019, there were more than 200,000 home-only loan applications. The home-only lending market presents several major opportunities.

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Housing Wire

JULY 12, 2023

United Wholesale Mortgage (UWM) on Wednesday announced two new home-affordability mortgage products designed to help underserved borrowers become homeowners. The programs are key to the GSEs’ equitable housing finance plans.

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Housing Wire

NOVEMBER 27, 2023

HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. HW: How has mortgage finance changed in the last few years?

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Housing Wire

MAY 8, 2024

Our 1st Gen loan program is a game-changer, designed to bridge the gap and pave the way for underserved communities to build generational wealth through homeownership.” PMG offers platforms for human resources, finance, technology , legal and compliance services to its group of lenders. In 2022 , it added Lone Peak Lending.

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Housing Wire

JANUARY 10, 2024

Both Droge and Olmos come to University Bank from Open Mortgage , which shuttered its own top 10 reverse mortgage lending division late last year. Sue Haviland has also joined the division as a loan officer, coming off of a roughly three-year stint as Finance of America Reverse (FAR)’s national sales trainer in learning and development.

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Housing Wire

JANUARY 12, 2024

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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Appraisal Buzz

JUNE 14, 2024

In today’s low-volume market cycle, mortgage originators can build business by focusing on purpose-built loan products designed to overcome the specific challenges homebuyers face in the current market. This represents a competitive challenge for buyers relying on financing.

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Housing Wire

OCTOBER 5, 2023

Industry-leading lender Movement Mortgage will become an “early adopter” of FICO Score 10 T, the updated credit scoring model designed to take advantage of trended data information to help expand mortgage approval rates. The word “trended” is the source of the “T” in the 10 T name.

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Housing Wire

DECEMBER 30, 2022

At a small mortgage banker, leadership has to know all aspects of lending. Chris Mozilo: If I didn’t go into mortgage lending, I would have likely become an architect. I went to college initially as an architecture major before switching to finance. I always enjoyed beautiful and simple designs. in mortgage banking.

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Housing Wire

MARCH 10, 2023

California-based Impac Mortgage Holdings is repositioning itself as a mortgage brokerage and voluntarily giving up its seller-servicer designation with Fannie Mae and Freddie Mac. Impac is transitioning its retail consumer direct lending division into a mortgage broker fulfillment model to offer various products at a reduced cost per loan.

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Housing Wire

JUNE 7, 2022

Few other industries must deal with the level of complexity of home finance. But unless the automation is specifically designed to solve these problems, it stands little chance of being effective. The post Are these factors creating chaos in your mortgage lending ops? appeared first on HousingWire.

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Housing Wire

MAY 30, 2023

The decision is part of UBS’s strategy to focus more on financing mortgage originators , the outlet said, citing an anonymous source discussing non-public information who asked not to be identified. “We Mortgage-backed securities in the U.S. are generally traded on a TBA basis.

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Housing Wire

DECEMBER 11, 2023

fair lending laws has been on regulators’ radar in recent years. fair lending laws by discriminating against African American and female borrowers in the granting of pricing exceptions based upon competitive offers from other institutions. The CFPB has been tightening its screws on fair lending practices.

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Housing Wire

SEPTEMBER 24, 2021

Traditional lending approaches are time-consuming when it comes to fix-and-flip properties. Acra Lending is looking to solve these challenges and make fix-and-flip lending simpler and more efficient for borrowers, lenders and brokers. Acra understands the struggles fix-and-flip investors face when seeking financing.

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Housing Wire

JULY 28, 2023

Through partnerships with Bubble Insurance Solutions and New American Funding , real estate agents at The Agency will have access to mortgage lending services and insurance services for their clients. NAF offers numerous home financing options including conventional, jumbo , non-QM, as well as others.

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Housing Wire

MARCH 17, 2023

The company debuted in August 2020 with a mission to automate much of the underwriting process when making income, asset and lending decisions. The firm’s automated underwriting tech is designed to augment human underwriters’ capabilities, allowing underwriters to handle more loans. In August 2021, Candor raised $12.5

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Housing Wire

JUNE 15, 2021

The addition of Johnson represents yet another change to the C-suite at Sprout, which halted non-QM lending last year when the coronavirus pandemic began and liquidity dried up. In the last six months, Sprout has unveiled a series of new products for it non-QM program , resumed correspondent lending.

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Appraisal Buzz

MAY 23, 2022

Peach Finance , a cloud-native lending technology platform that helps lenders quickly launch and confidently scale lending products, has released its new Adaptive Core offering, a proprietary loan management system designed to give lenders configurability even as their lending programs scale.

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Housing Wire

OCTOBER 5, 2023

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

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Housing Wire

FEBRUARY 1, 2023

Designed specifically with the end-user in mind, Servicing Digital helps servicers deliver an outstanding, convenient and modern customer experience, which enhances growth and retention.” And because the app provides them with relevant information, it can help reduce the volume of consumer calls for the servicer’s customer service center.

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Housing Wire

JANUARY 4, 2024

HUD issued $15 million grants in mid-2022 and early 2023 designed to help with health and safety home repairs for low-income seniors. “By Department of Housing and Urban Development (HUD) has shown that it’s paying attention to the emerging housing needs of an older population by creating programs that allow for age-minded home renovations.

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Housing Wire

MARCH 8, 2024

And the FDIC reported that home loans are the largest lending segment by dollar volume at more than 40% of community banks. residential mortgage servicers, received an equity investment of $1 billion earlier this month that is designed to strength the bank’s balance sheet. banks moved away from commercial real estate lending.

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Housing Wire

SEPTEMBER 23, 2020

There’s a mainstay in mortgage finance poised to help in working from home. The Federal Housing Administration’s 203(k) rehabilitation mortgage insurance program is designed for borrowers to renovate when they purchase or refinance. Of these workers, three in five said they’d prefer to work from home when restrictions are lifted.

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Housing Wire

APRIL 23, 2024

At the same time, “human beings are not perfect creatures,” and AI is tracking human interactions as well. “The systems are designed with that dual feedback,” Krishna added. ” In 2021, Rocket acquired personal finance app Truebill for $1.275 billion in cash.

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Housing Wire

NOVEMBER 29, 2022

This was “likely attributable to massive government stimulus and other support programs designed to stabilize the housing market during the COVID-19 pandemic,” according to the report. Bias in lending is a challenge that the mortgage industry has been struggling with, as seen from a handful of suits. Presented by: FormFree.

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Housing Wire

NOVEMBER 7, 2023

VA loans offer a 100% financing option for qualifying military service members and veterans, and don’t require mortgage insurance. Potter added: “Government lending would come to a halt. These clients are typically low on funds, which is why they need this type of financing.

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Housing Wire

APRIL 27, 2023

He will oversee expansion across the country by bringing on new teammates and will add value to all sales teammates through strategic initiatives designed to drive volume, the company said in a statement. “As In his role as national sales director at Movement, Yeager will focus on the company’s growing sales team.

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Housing Wire

JUNE 30, 2022

With demand for alternative lending expected to increase, Champions Funding empowers their broker partners to service diverse borrower needs by providing solutions-driven results in the non-QM space. Besides their end-to-end user experience and non-QM lending innovation, the company boasts a diverse and primarily woman-led team.

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Housing Wire

MAY 25, 2022

Partnering with a team that understands how to approach home loans for borrowers with complex finances can make the difference between another year of profit growth and the unfortunate possibility of loss in business, making it one of the most crucial decisions for any lender. Why partner with Newrez?

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Housing Wire

MAY 16, 2024

UWM’s TRAC+ announcement comes as the federal government pushes title insurance alternatives designed to save consumers money. Department of Veteran Affairs (V.A.) loans but only for refinances. 0% down During UWM Live!

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