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FinLocker raises $17M in Series B funding round

Housing Wire

The company said it will be using generative artificial intelligence (AI) and machine learning technologies to provide customers with personalized recommendations, credit management solutions, budgeting assistance and loan qualification tools. million in pre-seed funding in 2016. million in pre-seed funding in 2016.

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UWM expands its hard credit reports program

Housing Wire

In addition, in its Safe Check Complete version, launched Wednesday, the broker can order a pre-qualification based on a three-bureau soft credit check for $23. UWM’s website clarifies that Safe Check is not eligible for home equity lines of credit (HELOCs), bank statement, investor and USDA loans.

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One lender begins targeting Gen X for reverse mortgages

Housing Wire

One of the ways that RMF approached the decision to tackle lowering the minimum age requirement on Equity Elite came from the product development team pursuing different options to enhance its offerings, similarly to the way the idea to streamline borrower qualification came about.

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Divvy Homes hits $2 billion valuation after latest funding round

Housing Wire

Co-led by Tiger Global Management and Caffeinated Capital , Divvy’s latest round raised $200 million in equity, Divvy CEO Adena Hefets told Bloomberg. Landis Technologies , a company with a similar business model, hauled in $165 million in debt and equity financing less than a month ago.

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The fight to standardize educational training for LOs

Housing Wire

Requirements for nonbank LOs include a 20 hour pre-certification course; eight hours of annual CE courses; registering in the Nationwide Mortgage Licensing System (NMLS); and submitting fingerprints to NMLS for a criminal background check. . Learning materials up to par?

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Opinion: Is the lending market overcorrecting toward tech? Maybe

Housing Wire

Yes, a customer should be able to fill out a pre-qualification application digitally. It also closely resembles the private equity mentality: Scale as fast as possible, focus on KPIs to secure more capital regardless of any underlying issues they might hide and, when costs need to be cut, start the layoffs.

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LOs and brokers, are you prepared for an evolving workforce?

Housing Wire

In a housing market vastly different from the pre-pandemic period, how can industry professionals position themselves to achieve growth despite these current obstacles? Moreover, borrowers can access equity in a current portfolio of homes to purchase additional properties or use the market rent from the subject property to qualify.