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Home equity access: How Finance of America bolsters the market with home equity products

Housing Wire

In today’s economy, mortgage rates and housing expenses have consistently risen. However, homeowners have a unique advantage with home equity products—designed to let residents tap into their home’s equity for cash. Mortgage professionals must keep up with the new demand for home equity products in the new market.

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Ruoff Mortgage teams with Calque on ‘buy before you sell’ offering

Housing Wire

Indiana-based lender Ruoff Mortgage is making a move designed to help more homeowners get into new homes with ease. Ruoff Mortgage is teaming up with fintech company Calque to offer two “buy before you sell“ programs to customers. The Trade-In Mortgage — Calque’s most popular program — functions similar to a vehicle trade-in.

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FOA seeks to ‘modernize’ reverse mortgage outreach efforts to seniors

Housing Wire

Finance of America (FOA), the leading reverse mortgage lender, presented a robust outlook last week in its third-quarter 2024 earnings and is aiming to hit the ground running with business in 2025. The product was first introduced in 2018, marking the industry’s first-ever second-lien reverse mortgage option.

Mortgages 369
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zavvie launches HomeFAI, an AI-powered alternative financing system

Housing Wire

zavvie , a Colorado -based iBuyer and fintech company, has launched an AI-powered platform, HomeFAI, that is designed to accelerate the speed of cash offers and funding for homebuyers. This is AI meets modern home financing and its transforming the way people buy homes, Lane Hornung , co-founder and CEO of zavvie, said in a statement.

Finance 201
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A&D Mortgage acquires Mr. Cooper’s wholesale, correspondent businesses

Housing Wire

Florida-based non-QM lender A&D Mortgage announced Friday that it has acquired the wholesale and nondelegated correspondent lending businesses of Mr. Cooper Group. We took a very careful and measured approach to finding a potential partner to grow our QM business, Max Slyusarchuk , CEO of A&D Mortgage, said in a statement.

Mortgages 370
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Florida has built 77,000 new homes in high-risk flood areas

Housing Wire

The construction activity is likely to place the housing industry and its financing partners on a “collision course” with insurers, the outlet said. Robert Gordon, a senior vice president at the American Property Casualty Insurance Association , told the Journal that mortgage lenders need to be more involved in these processes.

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Rate’s Jesse Allen on targeting and expanding reverse mortgages

Housing Wire

The reverse mortgage division of Rate formerly known as Guaranteed Rate recently announced the hiring of reverse industry veteran Jesse Allen as the president for Rates reverse lending division as the company heads into 2025. Naturally, this includes reverse mortgages, he explained. That role is an active one, Allen said.

Mortgages 368