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Tomo Mortgage closes $20M Series B funding round

Housing Wire

Tomo Mortgage on Tuesday announced the closure of $20 million in Series B funding that was led by three existing investors and a new participant. The funding round was led by prior investors Ribbit Capital , DST Global and NFX along with new investor Progressive Insurance.

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UWM expands DSCR offerings to real estate investors

Housing Wire

Dubbed “Investors Flex,” the non-QM product for real estate investors, offered purchase and refinance loans up to $2 million that could be used to finance up to 20 properties by using each property’s monthly rental income to qualify.

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Optimal Blue PPE adds investor content from 54 state-based HFAs

Housing Wire

announced on Thursday that the Optimal Blue product, pricing and eligibility engine (PPE) has added investor content from 54 state-based housing finance agencies (HFAs). HFAs provide affordable homeownership options to low- and moderate-income borrowers through down payment and closing cost assistance, as well as reduced mortgage payments.

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USA Today: If Social Security falters, reverse mortgages could be worth a look

Housing Wire

There are closing costs and other fees, and you’ll still be responsible for maintaining the property and paying the property taxes and homeowners insurance, the column noted. This is largely tied to higher levels of stress theyre feeling about the economy and the cost of living.

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CFPB director open to changing mortgage regs to fix refi process

Housing Wire

The mortgage industry has complained loudly and often that government regulation and investor requirements are contributing to spiraling costs that get passed on to consumers. We’re also looking at identifying ways to jumpstart competition in certain closing cost categories, which can also help spur more activity.

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Opinion: Title and settlement fees aren’t a barrier to homeownership

Housing Wire

The research found that title and settlement fees are neither regressive nor represent a significant component of the overall closing costs. Given the typical borrower is paying more than $7,000 in closing costs, that might be an understatement. In fact, neither is true. increase in fees).

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Prices for FICO scores are predicted to rise — again — in 2025

Housing Wire

Wall Street investors and analysts forecast that mortgage credit-score costs will rise in 2025 as lower interest rates may drive an increase in home loan applications. of a typical $6,000 mortgage closing cost. Fair Isaac Corp. to at least $5, according to the estimates. But this seems too elevated, they added.

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