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Why there’s renewed interest in financing factory-built homes

Capital markets, LOAN PRODUCTS, Originations, Politics and policy, REALTORS & HOMEBUILDERS, Secondary markets /

Freddie Mac has expanded its program for loans on real-property factory-built homes that have features in common with traditional houses like pitched roofs, attached garages and permanent foundations. The government-sponsored enterprise said it is now buying single-section CrossMod homes loans for the first time, making it possible for borrowers to get reduced rates for housing […]

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Blend ‘turns corner’ and reduces GAAP losses in 2Q25

Earnings, LOAN PRODUCTS, Mortgage technology, Originations, Underwriting /

A takeaway from Blend Labs’ latest earnings is that, although it’s growing consumer banking broadly, the mortgage operations are the biggest investment theme in the short term, Keefe, Bruyette & Woods said. “The company’s expansion into consumer banking adds a new growth vector that should be synergistic with Blend’s mortgage client roster and positions the

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Breaking the mold: new mortgage products emerge

LOAN PRODUCTS, Originations, Secondary markets, Underwriting /

In an interview with National Mortgage News, former Federal Home Loan Bank of Chicago executive Steve Thomas complained about the current lack of product development in the mortgage business. That is likely because of a reluctance among lenders to create those unique programs outside of the agency and government spectrums especially since Monday morning quarterbacks

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HEI platform Unlock expands into five new states

HEI platform Unlock expands into five new states

Fintech, Home equity loans, LOAN PRODUCTS, Originations /

Home equity investment firm Unlock rolled out its home equity investment product in Hawaii, Idaho, Montana, New Hampshire and Wyoming, it announced this week. The Tempe, Arizona-based company had added four Central U.S. states earlier this year and now offers its product in 24 states, nearly half the country. “We’re now the first provider to

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Rate drops offer reprieve for mortgage applications

LOAN PRODUCTS, Mortgage applications, Mortgage Rates, Refinance /

Mortgage applications rebounded this week as a drop in mortgage rates encouraged a bump in purchases and refinancing. In its weekly applications survey, the Mortgage Bankers Association reported a 3.1% increase in mortgage applications week-over-week. Both purchases and refinances saw upticks, with the refinance index up 5% from the week before and the seasonally adjusted

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FOA posts profit, buys out Blackstone stake

Earnings, LOAN PRODUCTS, Marketing, Originations, Reverse mortgages, Securitization /

Finance of America was profitable for a second consecutive quarter as funded volume at the reverse mortgage lender grew 7% versus the first quarter and 35% year-over-year. The company made net income from continuing operations of $80 million for the period ended June 30, unchanged from the first quarter and up from a $5 million

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Redwood Trust’s mortgage businesses turn 2Q profits

Earnings, LOAN PRODUCTS, Originations, Secondary markets, Securitization /

While its two mortgage banking segments made money during the second quarter, Redwood Trust lost $100.2 million for the period, related to businesses it is winding down. This compared with net income of $14.4 million in the first quarter and $13.8 million in the second quarter of 2024. The legacy investments are now its own

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Tech providers zero in on home equity lending

Tech providers zero in on home equity lending

HELOCs, Home equity loans, LOAN PRODUCTS, Mortgage technology, Technology /

zimmytws – stock.adobe.com With interest in home equity lending on the rise, ICE Mortgage Technology and Figure are rolling out tool enhancements for business customers aimed at expediting originations and attracting customers.  Borrowers managing loans via ICE’s MSP servicing platform will be able to quickly apply for new home equity lines of credit and loans,

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Home equity products set to grow in 2025, 2026, study finds

Credit, LOAN PRODUCTS, MARKETING TO BORROWERS, Originations, Refinance, Underwriting /

The rise in home equity lending should continue through the end of next year as conditions feeding current growth in the product will drive the market, a new study from the Mortgage Bankers Association has found. In 2024, the total combined HELOC and outstanding home equity loan debt grew 10.3%, according to the MBA’s 2025

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