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Pacaso gets funding for non-QM co-borrower securitizations

Pacaso gets funding for non-QM co-borrower securitizations

Capital markets, LOAN PRODUCTS, Mortgage technology, Secondary markets, Servicing /

Financial technology firm Pacaso has closed on a revolving credit facility it will use to enable sales of 30-year second-home mortgages with co-borrowers into the securitized market. The $100 million facility from Texas Capital Bank will fund Pacaso’s purchases of the mortgages, which have an initial five-year interest-only period. It also will accommodate inclusion of […]

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Why cap markets tech use has grown and what it means for LOs

Capital markets, Editorial Research, LOAN PRODUCTS, Secondary markets /

New data shows growing use of product, pricing and eligibility engines has given nonbank mortgage executives, their loan officers and others more immediate access to capital-markets information that could be a competitive advantage. It also points to opportunities that could jumpstart mortgage professionals’ careers, depending on their goals and interest in these developments. Most of

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Fed cuts but only some mortgage rates are moving lower

Capital markets, LOAN PRODUCTS, Mortgage Rates, Originations, Politics and policy, Servicing /

The Federal Open Market Committee’s decision to meet broad expectations for a 25 basis point cut might not give many people in the market for a home loan the break they anticipated. “What does that do for mortgage rates? I think we’ve already seen that show up. The last three, four weeks, we’ve seen mortgage

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From crypto to DPA: 8 newest mortgage products, programs

LOAN PRODUCTS, Marketing, Mortgage Rates, Originations, Secondary markets, Underwriting /

While it is increasingly likely the Fannie Mae and Freddie Mac conservatorships are nearing some sort of end, the question is whether their conforming product boxes will be expanded as a result. The demand for products that address unique borrower needs isn’t going away anytime soon. In recent weeks, lenders have introduced a wide range

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Real estate company launches crypto-based platform

Real estate company launches crypto-based platform

Bitcoin, Cryptocurrency, Housing markets, LOAN PRODUCTS /

Angel Garcia/Bloomberg The Trump administration has made efforts during its first eight months back in office to legitimize cryptocurrency in the U.S. economy, and Linkhome Holdings is getting ahead of the curve. The AI-powered real estate company launched a platform that allows buyers to purchase property with cryptocurrency, it announced in a press release Monday.

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LitFinancial turns to crypto for mortgage funding

Capital markets, Cryptocurrency, Digital payments, LOAN PRODUCTS, Originations, Secondary markets /

Mortgage correspondent lender LitFinancial has launched a stablecoin on an Ethereum blockchain with the initial aim of improving its treasury efficiency and reducing its cost of capital. Lit, based in Troy Michigan, is working with Brale, a stablecoin-as-a-service platform, and Stably, a stablecoin advisory firm, on the new token which is named litUSD. Brale is

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Figure Technology goes public, opens at $36 per share

Cryptocurrency, IPOs, LOAN PRODUCTS, Mortgage technology, Originations /

Figure Technology Solutions started trading as a public company and the first moves were substantially higher, according to information on Yahoo Finance. The company priced its offering at $25 per share on Wednesday evening. Early trades, starting around 12:30, put the stock in a range between $32 and $37 per share, with an opening price

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Rate-and-term refi activity hits 2025 high mark

Housing markets, LOAN PRODUCTS, Originations, Servicing /

Evidence of homeowners’ desire to refinance at the first signs of falling mortgage rates appeared in August’s data as rate-and-term transactions hit a 2025 high. Rate-and-term locks accelerated 69.8% from the prior month, according to Optimal Blue’s Market Advantage report. Compared to August 2024, though, volumes finished 8.7% lower. Cash-out refinances also saw a monthly

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Figure boosts size, price of planned IPO

IPOs, LOAN PRODUCTS, Mortgage technology, Originations /

Figure Technology Solutions has increased its expected initial public offering in both size and price, an updated prospectus filed with the Securities and Exchange Commission said. The IPO will now consist of 31.5 million shares of its Class A stock, but nearly 4.9 million of those will come from current shareholders in the company. Figure

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