Better Home & Finance is rolling out a new wholesale operation where it’ll offer home equity line-of-credit and closed-end second liens. The lender is touting a wide credit matrix, fast originations and options including 12 and 24 month bank statement approval options for small business owners. The largely direct-to-consumer shop, with an emerging retail arm, […]
Better launches HELOC, CES wholesale channel Read More »
PHH Mortgage officially rolled out a new lending product suite this week as it looks to tap into growing mortgage industry demand for non-agency offerings. The proprietary non-qualified mortgage products, collectively known as FlexIQ, will be available through PHH’s correspondent lending channel for both delegated and non-delegated loans. The lender is a subsidiary of West
PHH Mortgage introduces new non-QM product suite Read More »
Nexa Lending welcomed mortgage industry veteran Tammy Richards as chief strategy officer, one of a series of recent moves introduced by the company as it also undergoes a rebranding initiative. As chief strategy officer, Richards will help lead market development and expansion for the Mesa, Arizona-based lender, which recently changed its name from Nexa Mortgage.
Nexa Lending adds Tammy Richards to executive team Read More »
Applications for new-home purchase mortgages ran ahead of last year’s pace in September, but various factors have the leading industry trade group preparing for a near-term slowdown. Purchase applications for new single-family properties increased 2% on a year-over-year basis last month, picking up some momentum after August’s flatter 1% rise, according to the Mortgage Bankers
New-home loan growth slows as builders anticipate a slowdown Read More »
Figure Technology Solutions has introduced a new platform for debt-service coverage ratio originations aimed to support growth of nonqualified mortgages as well as the company’s own blockchain-based marketplace. The fintech’s lending platform aims to provide quicker access to capital for real estate investors, utilizing artificial intelligence and blockchain technologies to streamline underwriting and funding for
Figure unveils new DSCR lending platform Read More »
The latest refi boomlet sustained its momentum that showed up in late summer, with rate drops driving a noticeable spike in September lock volume, according to Optimal Blue. Rate locks jumped 28.2% from August to September, the product-pricing engine platform said in its latest market advantage report, and drove its monthly market index to a
Lower rates fuel big September refi spike Read More »
Mortgage fraud risk ended the second quarter at its highest level in over three years as issues related to undisclosed real estate debt and transaction misrepresentations had significant annual increases, according to Cotality. When compared with the first quarter, the Cotality Mortgage Application Fraud Risk Index rose by 1.4%, while jumping by 6.1% compared to
Mortgage fraud risk rising as housing market struggles Read More »
Rocket Cos. has closed its acquisition of Mr. Cooper, just six months after the transaction was first announced, with a near $5 billion increase in valuation. The transition has already begun; Mr. Cooper and all servicing functions are being rebranded under the Rocket umbrella. Right now, the company is being branded as Mr. Cooper powered
Mr. Cooper costs Rocket $5B more than first announced Read More »
The amount of tappable home equity Americans hold continues to increase, growing annually by 5% for the second quarter, a Transunion study found. Several operators in the market, whether lenders themselves or tech providers, have launched products and platforms over the last few days to serve these equity-rich homeowners. As of June 30, the total
More home equity, more lending options for lenders Read More »
A bipartisan bill looking to end the Federal Housing Administration’s life-of-loan requirement for that form of mortgage insurance coverage has been reintroduced in the House of Representatives. The Mortgage Insurance Freedom Act was previously introduced in last year’s lame duck session of Congress by Rep. Gregory Meeks, D-New York, and Rep. Pete Sessions, R-Texas. Under
FHA premium cancellation bill reintroduced in the House Read More »