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Fairway reverse division honors longtime pro with lifetime achievement award

Housing Wire

has honored a longtime professional in its ranks with a lifetime achievement award, in recognition of his 40-year career in the mortgage banking, real estate , homebuilding and title insurance industries. Josh Kilty (left), senior vice president of reverse lending at Fairway, presents a lifetime achievement award to Pistol Pete Stebbins.

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ClearPath Lending Surpasses 50,000 FHA and VA Mortgages Since its Founding

Appraisal Buzz

ClearPath Lending , a VA home loan origination firm, reports that it has provided more than 50,000 mortgage loans that were guaranteed by the Department of Veterans Affairs or insured by the Federal Housing Administration (FHA) since the company was founded in 2012. It’s an honor to serve the.

Lending 195
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Blend is now worth $4.6B. Now what?

Housing Wire

Blend’s investors are apparently convinced that the company can radically transform lending, simplifying and digitizing regimented-but-clumsy processes that are still rather paperwork-heavy. Over the last two years, Blend has acquired its own mortgage insurance firm and title insurance firm (the latter in a $422 million deal).

Insurance 397
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FHA finalizes updates to reverse mortgage debenture interest rates

Housing Wire

Debenture interest refers to the percentage of a return that an investor would receive for lending money through a debenture. HERMIT was launched by HUD in October 2012 after a protracted development cycle. The ML goes into effect on Sept. The updated rule builds upon several changes that FHA made to the HECM program on Jan.

Mortgage 415
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Blend hopes to be valued at $4B following IPO

Housing Wire

It has raised a total of $655 million since its founding in 2012, according to Crunchbase. The company also stepped in to the title insurance realm in March after Blend announced it was expanding its cloud-based platform thanks to the acquisition of Title365 from the Mr. Cooper Group. That acquisition cost roughly $422 million.

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Ginnie Mae’s new liquidity standards are sorely needed

Housing Wire

Unlike lenders or servicers for Fannie Mae and Freddie Mac , Ginnie Mae issuers are responsible for passing along payments to investors after borrower equity, federal agency and mortgage insurance resources are exhausted. If those issuers fail, Ginnie Mae is ultimately responsible for making those investor payments.

Insurance 459
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Blend places its bets on ‘composable origination’ tech

Housing Wire

Founded in 2012, Blend went public in 2021. One is by diving deeper into the broader homeownership journey to offer ways for applicants to find homeowners and title insurance. Blend also expanded to offer additional lending products, such as home equity, personal and auto loans.

Insurance 357