Housing Wire

FEBRUARY 10, 2025

The lender’s wholesale division is now offering a nonqualified mortgage ( non-QM ) loan product suite aimed at serving consumers who have outside-the-box financial profiles. ” Cardinal Financial’s non-QM suite will kick off with four loan products. . billion in non-QM loans through a proprietary product suite.

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Loans Finance Investor Mortgages 343

Housing Wire

MAY 8, 2024

Nonbank lender Panorama Mortgage Group (PMG) launched a new program that allows first-time homebuyers to take out a loan with a 1% down payment , the company announced on Wednesday. Founded in 2007 in Las Vegas , Panorama originated from Alterra Home Loans , which carved out a niche by catering to first-time Hispanic homebuyers.

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Loans Mortgages Lending Branding 440

Housing Wire

OCTOBER 17, 2022

Freddie Mac today announced it will include a review of borrowers’ bank account data to identify a history of positive monthly cash-flow activity as part of its loan purchase eligibility assessments, according to a release shared with HousingWire.

Banks 482

Banks Loans Industrial Mortgages 482

Housing Wire

APRIL 3, 2023

Cornerstone Servicing , a division of recently formed Cornerstone Capital Bank , has launched a subservicing business, the company announced Monday. Homeowners can log into the company’s secure web portal or mobile app to access a full view of their loan and 24/7 self-service options. billion in assets.

Banks 397

Banks Loan Officer Lending Loans 397

Housing Wire

DECEMBER 1, 2020

Flagstar Bank and the FinTech Consortium revealed that fintech startups Home Lending Pal , Stavvy and Real Key are the latest initiates to the companies’ ongoing MortgageTech Accelerator program. LOs are only human — Tech is necessary to keep up with max loan volumes. Presented by: Total Expert. The current program will end Feb.

Banks 406

Banks Mortgages Lending Technology 406

Housing Wire

JULY 15, 2024

Loan originators in today’s mortgage market have weathered significant challenges. For loan originators , managing the narrative is crucial. This event is designed to equip you with the tools and insights needed to lead with vision and inspire your teams effectively.

Loan Officer 434

Loan Officer Loans Banks Mortgages 434

Housing Wire

MARCH 18, 2022

Mangus then worked to build the dedicated reverse mortgage department at his new company from scratch and has found a notable degree of success by building Home Equity Conversion Mortgage (HECM) for Purchase (H4P) business through the use of continuing education (CE) classes designed for licensed real estate agents.

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Loans Closing Mortgages Equity 524

Housing Wire

MAY 4, 2022

Digital-mortgage exchange and loan aggregator MAXEX is launching a new loan-purchasing program for originators looking to tap into the growing mortgage demand from individual and small-business real estate investors. In addition, MAXEX, based in Atlanta, announced that it is expanding its bulk- and forward-trading loan programs. “By

Loans 459

Loans Investor Mortgages Banks 459

Housing Wire

SEPTEMBER 26, 2023

Blend Builder – an initiative that started about four years ago and launched in March 2023 – is a cloud banking platform designed to help businesses in the financial services industry streamline processes for mortgages, loans, deposits and accounts. “We Blend platform revenue is projected to be around $28.5

Banks 448

Banks Mortgages Loans Investor 448

Housing Wire

JUNE 17, 2022

I am about to say something in 2022 that no one in software design and process management would say. Do loan officers need more technology than they currently have? Most loan officers do not believe they need more tech than they have now. Most loan officers do not believe they need more tech than they have now.

Loan Officer 435

Loan Officer Loans Technology Banks 435

Housing Wire

FEBRUARY 27, 2025

To save time, Acra employs an eligibility review system for non-QM loans. The system functions similarly to Fannie Maes Desktop Underwriting (DU) and Freddie Macs Loan Prospector (LP) because it has automated review capabilities. With this process, brokers can validate appraisals before the loans submission.

Lending 312

Lending Technology Loans Mortgages 312

Housing Wire

JANUARY 17, 2025

Mr. Cooper had previously acquired the assets in a deal with Flagstar Bank , which was announced in July and closed in November. It also has a proprietary origination system designed to speed up the funding process. billion in loans during this period, up 37.5% It originated $2.37 year over year. Texas-based Mr.

Mortgages 370

Mortgages Lending Banks Finance 370

Housing Wire

DECEMBER 10, 2021

In the world of mortgage-financing, there exists a product line defined by what it is not — non-qualified mortgage (non-QM), non-prime, non-agency or an alternative-documentation loan. Angel Oak, through its affiliates, both originates and securitizes non-QM loans. We just see tremendous opportunity.”.

Loans 497

Loans Lending Bankruptcy Mortgages 497

Housing Wire

JANUARY 12, 2021

We wanted to introduce a program that provides borrowers with the larger loan amounts they need to purchase or refinance a high-value property. The Jumbo Prime program is designed for qualified borrowers who may have larger loan amounts than allowed under conventional loan terms. Kyle Gunderlock, Acra Lending CEO.

Loans 419

Loans Lending Development Mortgages 419

Housing Wire

JUNE 2, 2023

based ESSA Bank & Trust over allegations that the company engaged in redlining majority Black and Hispanic communities from access to credit services around the Philadelphia area. When banks engage in redlining, they perpetuate existing patterns of segregation and widen the racial wealth gap in our country.

Banks 321

Banks Lending Loan Officer Loans 321

Housing Wire

MAY 23, 2023

The growing wave of loan-repurchase requests from Fannie Mae and Freddie Mac has yet another major wrinkle, industry sources reveal, and this new problem, if accurate as alleged, threatens to disrupt future merger and acquisition (M&A) activity in the mortgage-finance industry.

Loans 418

Loans Purchase and sale agreement Due diligence Industrial 418

Housing Wire

JUNE 30, 2022

In response, many brokers are relying on extra support, and Flagstar Bank offers exactly that. Flagstar also offers brokers the opportunity to participate in the Flagstar FLEX monthly webinar series designed to help them better their businesses. We’re well-capitalized and committed to mortgage, particularly the broker channel.

Lending 370

Lending Banks Technology New Construction 370

Housing Wire

AUGUST 5, 2020

This article was written for FinLedger, HW Media’s new fintech-focused news brand designed specifically for financial services professionals in banking, insurance and real estate. Founded in 1985, Quicken Loans has seen record numbers of refinance and purchase applications in recent months in the midst of the COVID-19 pandemic.

Loans 418

Loans Branding Investor Banks 418

Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders. This insurance protects lenders against losses.

Industrial 476

Industrial Fixed-rate mortgage Banks Loans 476

Housing Wire

NOVEMBER 1, 2023

But for some borrowers, a less traditional loan type could make the most financial sense. Without enough timely information to ask questions and compare options, borrowers had loans they couldn’t afford. But they only apply after a borrower has submitted a loan application, which leaves room for ambiguity when shopping.

Loans 435

Loans Fixed-rate mortgage Lending Loan Officer 435

Housing Wire

MARCH 11, 2024

Configured to give independent mortgage banks, federally insured banks and credit unions the needed tools at an accessible price point, Floify Lender Edition aims to increase lender profitability through its automated processes and efficiency tools, the company said. Founded in 2013, Floify — a subsidiary of Porch Group Inc. —

Mortgages 448

Mortgages Loan Officer Loans Banks 448

Housing Wire

AUGUST 12, 2020

This article was written for FinLedger, HW Media’s new fintech-focused news brand designed specifically for financial services professionals in banking, insurance and real estate. Among its dozens of limited partners are major banks, which are the kinds of customers Blend is servicing, Mayopoulus pointed out. trillion U.S.

Loans 508

Loans Banks Loan Officer Branding 508

Housing Wire

MAY 20, 2024

Mortgage capital markets tech firm Polly announced on Monday its API integration with cloud banking provider nCino to enhance the digital mortgage process for lenders. The enhancement enables the user to submit a loan request and lets lenders run scenarios to get updated rates. mortgage, said in a statement. “By

Mortgages 448

Mortgages Loan Officer Technology Banks 448

Housing Wire

OCTOBER 10, 2023

Lenders using MeridianLink Consumer loan origination software (LOS) will be able to leverage Blend’s unified platform and consumer banking origination software for a fast onboarding and application process for banking, credit card and loan products, Blend said in a news release on Tuesday. million in Q2 2022.

Lending 435

Lending Banks Technology Loans 435

Housing Wire

SEPTEMBER 10, 2024

Polly has increased its locked loan volume by more than 150% this calendar year alone. And it has more than doubled its customer partner base to include some of the country’s biggest banks, credit unions and mortgage lenders, according to the firm.

Mortgages 447

Mortgages Technology Banks Loans 447

Housing Wire

JULY 23, 2021

The company specializes in non-QM products, a sector that serves many borrowers who might not fit agency loans. 3-month bank statement. For example, look at Acra’s 3-month bank statement loan program, said Keith Lind, executive chairman and president of Acra. Jumbo products. Fix’n’flip.

Marketing 459

Marketing Banks Lending Loans 459

Housing Wire

MARCH 26, 2021

The lawsuit, which combined two legal actions that were designated a class action, was filed on behalf of 5,377 loan officers and other mortgage staffers employed by the bank in California from 2013 and 2019. James Kang, the lead plaintiff, said Wells Fargo illegally clawed back compensation.

Bankruptcy 488

Bankruptcy Banks Loan Officer Loans 488

Housing Wire

MAY 21, 2021

The Urban Institute regularly cites statistics showing IMBs do a better job than banks of serving underserved borrowers, as measured by metrics such as FICO scores and debt to income ratios. CRA is designed to prevent banks from diverting funds OUT of a community where they take deposits in order to lend in other communities.

Debt-to-income ratio 456

Debt-to-income ratio Banks Lending Loans 456

Housing Wire

NOVEMBER 24, 2021

The state of New York recently adopted legislation applying the Community Reinvestment Act (CRA) to nonbank mortgage lenders, also known as independent mortgage banks (IMBs). Applying CRA to IMBs fails to recognize that IMBs are very different from banks. This comes after similar action by Illinois.

Banks 435

Banks Lending Loans Mortgages 435

Housing Wire

JUNE 22, 2022

United Wholesale Mortgage (UWM), the nation’s largest wholesale lender, wants to beat rival lenders by offering competitive pricing to brokers, a move designed to navigate a shrinking mortgage market with compressed margins. UWM dropped rates by 50 to 100 basis points across all loan types, the company said in a release.

Loans 459

Loans Loan Officer Banks Mortgages 459

Housing Wire

JULY 16, 2024

Financial Services Cloud + Einstein 1 Financial Services Cloud connects and centralizes customer data from core banking, wealth, and loan origination platforms, creating a single, unified view of the customer. This enables personalized engagement using purpose-built automation. Get More Info

Banks 446

Banks Loans Design Sales 446

Housing Wire

JANUARY 28, 2021

Those stockholders have also granted the underwriters – which include Goldman Sachs , Wells Fargo , Morgan Stanley and UBS Investment Bank – the option to purchase an additional 1.087 million shares of common stock. Tune in February 2nd to experience demos from the most innovative loan origination and valuation tech companies.

Equity 534

Equity Loans Lending Banks 534

Housing Wire

MAY 1, 2023

The tool is designed to address the issue of sensitive data being handled by lenders and loan officers on a daily basis, including social security numbers, paystubs, and tax returns. According to Maxwell, the company’s suite of tools have resulted in a 20% increase in loans closed per loan officer.

Loan Officer 418

Loan Officer Mortgages Technology Loans 418

Housing Wire

NOVEMBER 29, 2022

The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. ” Raise the (conforming loan) roof. nonbank lenders are wasting no time.

Loans 284

Loans VA loan Lending Mortgages 284

Housing Wire

JUNE 7, 2024

Its “ smart loans ,” which were built using artificial intelligence technology, are designed to help homebuyers find the best mortgage for their unique financial situation. In May 2022, it launched a cloud-based portal, LoanFlow , that gives mortgage brokers and loan officers the ability to originate loans anytime, anywhere.

Loan Officer 487

Loan Officer Loans Mortgages Lending 487

Housing Wire

MAY 26, 2022

A Florida-based loan officer faces more than 30 years in federal prison if convicted on charges alleging she falsified divorce papers and child support payment information to help unqualified borrowers secure a loan, according to a Department of Justice indictment. She could also be ordered to pay $130,000 in restitution.

Loan Officer 435

Loan Officer Loans Banks Mortgages 435

Housing Wire

MAY 15, 2024

The Community Home Lenders of America (CHLA) on Wednesday released a plan that it says would “modernize” Ginnie Mae , the government-owned company that manages the securitization of government-sponsored loans. CHLA added in a statement that the release of these recommendations is designed to coincide with relevant news.

Banks 457

Banks Loans Development Mortgages 457