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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.

Equity 370
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Mortgage servicing startup Valon raises $100M in Series C funding round

Housing Wire

Fast-growing mortgage servicing platform Valon has secured $100 million in a Series C funding round, the company announced this week. It is utilizing a cross-selling strategy that offers additional products to its existing customers in an evolving mortgage landscape.

Mortgages 448
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WaFd Bank exits home mortgage lending, says model is ‘unsustainable’

Housing Wire

Seattle-based WaFd Bank , which has offered home loans for more than 100 years, announced Thursday in an earnings report that it will exit the single-family mortgage lending business. That is bad news for banks like WaFd Bank, because it has made the business of originating mortgages for our portfolio unsustainable.

Lending 397
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Splitero secures $350M in funding from Blue Owl Capital

Housing Wire

As consumer debt reaches all-time highs and the cost of living continues to escalate, home equity investment fintech Splitero on Thursday announced a purchase commitment from funds managed by asset manager Blue Owl Capital. mortgage holders held $17.2 trillion in equity, of which $11.2 At the end of third-quarter 2024, U.S.

Equity 391
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Better’s AI bots might take over mortgages — but its losses are still piling up

Housing Wire

Founder and CEO Vishal Garg made a eye-popping statement when he opined that “in the next 10 years, 99% of the (mortgage) tasks will be completed by bots and 1% by humans.” “The bulk of the tasks that are required to process a mortgage are going to be performed by AI bots over the next 10 years,” Garg said in an interview with HousingWire.

Mortgages 370
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Renovation projects remain popular, but homeowners often need help paying for them

Housing Wire

Mortgage lenders can also benefit from these projects through a variety of products, including home equity lines of credit (HELOCs). The vast amount of home equity accumulated across the country could be a path to addressing these issues. And there are now 32 million borrowers who have at least $100,000 in tappable equity.

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Rocket Companies announces deal to acquire Redfin for $1.75 billion

Housing Wire

billion in equity. Together, we will improve the experience by connecting traditionally disparate steps of the search and financing process with leading technology that removes friction, reduces costs and increases value to American homebuyers.