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Northpointe Bank to shutter its correspondent lending business

Housing Wire

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. The rising rate environment also had an impact on Northpointe’s origination in 2022.

Lending 374
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How InstaMortgage convinced top broker shop to jump to retail

Housing Wire

Tech-fueled retail mortgage lender InstaMortgage has merged with mortgage broker shop All Cal Financial , a rare example of a top-performing brokerage switching channels. As part of the merger, Jim Black, the founder of All Cal, will become chief lending officer of InstaMortgage.

Retail 387
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Top Guaranteed Rate LO Shant Banosian joins board of Healing Realty Trust

Housing Wire

Aiming to take the company public next year, Healing Realty Trust will tap into Banosian’s network of big banks as well as investors to grow its portfolio. So we’ll look for him to leverage his relationships into access to investors. portfolio of more than 150 retail centers. “We Shant has an incredible network.

Realty 356
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HousingWire Annual 2023 On Demand

Housing Wire

Clayton Collins, CEO, HousingWire Watch Now CEO Playbook: NewRez President Baron Silverstein Speakers: Baron Silverstein, CEO, NewRez Sarah Wheeler, Editor in Chief, HousingWire Watch Now PENNYMAC: building B2B channels to a leadership position Speakers: Kim Nichols, Managing Director, Pennymac TPO Brena Nath, HW+ & Events Director, HousingWire (..)

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Moon platform launches crypto-backed mortgage product

Housing Wire

million in a seed round, the Miami-based cryptocurrency lending platform announced on Tuesday that it launched a product that allows investors in Bitcoin, Ethereum and USDC to use their assets to secure funding for real estate purchases. “The use case for crypto has to go beyond investment potential. Six months after raising $3.5

Mortgage 365
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Tech firm Polly bulks up to help modernize mortgage industry

Housing Wire

Polly, a software-as-service mortgage-technology firm that operates a loan-trading platform , has raised $37 million through a new funding round, its third since launching in 2019 — bringing the total raised from investors to $57 million. Building the next generation of tech: Three ways to digitize home lending.

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Interfirst Mortgage raises $175 million

Housing Wire

Funds managed by Oaktree Capital Management , MFA Financia l, various family offices, and other strategic investors invested through a StoicLane’s special purpose vehicle, StoicLane said. Interfirst was founded in 2001 as a retail originator but expanded to the wholesale channel in 2008 and the correspondent channel in 2011.

Mortgage 312