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Figure Technology Solutions takes another step to become public

Housing Wire

Figure Technology Solutions (FTS), the parent company of Figure Lending LLC , took another step this week to become a public company, just one week after announcing a reorganization of its enterprise structure. to take its lending division, LendCo , public. The following year, CMG acquired Homebridge’s retail assets.

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Figure hires banks for lending arm IPO: Bloomberg

Housing Wire

Mike Cagney’s financial technology firm Figure Technologies has taken another step to go public with its lending division, LendCo , hiring investment banks to coordinate the initial public offering (IPO), per a Bloomberg report. The profitable lending business has more than a 50% contribution margin, he said in a meeting.

Lending 435
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Top LO Tim Potempa joins E Mortgage Capital

Housing Wire

. “The transition just became along the lines of the team’s ability to have a product suite and technology.” Potempa mainly focuses on the government lending space, which represents 60% of his total volume, he said. “In wholesale, you can shop and sell the loan to a multitude of investors.

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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 436
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Blue Sage Solutions launches digital servicing platform

Housing Wire

Software development company Blue Sage Solutions has launched a new servicing platform that merges loan origination and servicing functions using API-based technology. Soon, the full servicing version of the Blue Sage Digital Servicing Platform will boast additional functionalities such as investor reporting or default management.

Retail 429
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Lower founder says lender is still active in M&A searches

Housing Wire

If it finds “a good company,” the lender is willing to pay a premium to the owners, according to Dan Snyder, the fintech’s founder and investor. In November 2023, Lower announced the acquisition of Colorado-based Universal Lending Home Loans , which became a separate division.

Retail 439
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Non-QM lender Citadel Servicing rebrands as Acra Lending

Housing Wire

Citadel Servicing Corporation (CSC) , one of the country’s largest non-QM lenders , is rebranding as Acra Lending (Acra). Liquidity had dried up and bond investors, which underpin the non-QM market, were running for the hills. Citadel resumed non-QM lending in the summer. The change is effective Monday. “We

Lending 386