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Blend launches housing equity program

Housing Wire

Blend Impact’s first leg, the Equitable Ecosystem Initiative, was soft-launched last year and gave free access of its platform — in multiple languages — to Minority Depository Institutions (MDI) and community development financial institutions. Blend went public on July 16 and closed its first day of trading at $20.90 on July 27.

Legal 435
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Pretium Partners adds two execs to strengthen homebuilder finance efforts

Housing Wire

He had a particular focus on residential developers and homebuilders. Bosman will help to lead Pretium’s investment activities in homebuilder finance, which have generated $14 billion in originations since the company’s inception in 2012. Brendan and Karen’s expertise will help us further scale those offerings.”

Finance 448
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SimpleNexus secures $108 million in Series B funding round

Housing Wire

The Utah-based software developer offers a private-label digital mortgage platform and mobile app designed to connect lenders with borrowers and real estate agents. In fact, prior to founding SimpleNexus in 2011, CEO Matt Hansen worked on the Simplifile development architecture team for nearly five years.

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Review of MMI Fund’s reverse mortgage book sheds light on evolving HECM

Housing Wire

Approximately 65% of loans endorsed in Fiscal Year 2009 had an MCA of less than or equal to $300,000, and this percentage increased to approximately 72% by Fiscal Year 2012,” the report stated. As the principal limit has been increasing, the percentage of endorsements with an MCA over $417,000 has increased steadily since 2012.”

Mortgage 434
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Blend reaches unicorn status with $75 million Series F raise

Housing Wire

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. Fintech-focused Canapi Ventures led the investment, which brings Blend’s total venture raised to $365 million since its 2012 inception.

Investing 508
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More than ever, lender profitability requires maintaining pace with innovation

Housing Wire

The blue bar is compensation cost since 2012. Note that the compensation cost starts at a low of 64% of total origination cost in 2012 to 69% in 2021. Interestingly, technology spend as a portion of total origination cost was about 2% in 2012, and its about 2% in 2021. Identifying the specific 30% is hard.

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Could renovated foreclosure resales help solve the nation’s increasingly complex affordable housing puzzle?

Housing Wire

Combined with thousands of other local community developers like her, McCormick’s efforts are moving the needle when it comes to quality, affordable housing for owner-occupants nationwide. Local Community Developers. Some of those areas I’m investing in, and they’re starting to turn again so that’s exciting to see.”.