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Northpointe Bank to shutter its correspondent lending business

Housing Wire

Northpointe Bank , a regional bank headquartered in Michigan, will walk away from its correspondent lending business to focus on its retail lending, mortgage warehouse financing division and specialty loan servicing business. The rising rate environment also had an impact on Northpointe’s origination in 2022.

Lending 397
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What happens when borrowers have more control of the lending process?

Housing Wire

Yet borrowers have had limited agency in the lending process to date. FormFree, the ATP fintech led by HousingWire Tech Trendsetter Brent Chandler , is launching a blockchain-based exchange for consumers to take control of the lending process. The smart contract presents the borrower’s lending request to the exchange.

Lending 435
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Mortgage tech firm Volly scoops up Home Captain

Housing Wire

At the time, Volly cited the union as a means for the company’s lending clients to utilize Home Captain’s concierge and technology offering throughout the homebuying and mortgage origination process. Jason Tagler, General Partner and Managing Member of Camden Partners, joined the Volly board as part of this investment. .

Mortgage 466
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Fix-and-flip lender Kiavi lays off 7% of employees

Housing Wire

Non-QM lender Kiavi , which specializes in fix-and-flip and investor loans, has laid off 39 employees, sources told HousingWire on Thursday. Because we are in the hard money space, we don’t have a lot of investors willing to buy our assets because of the rate hikes, is what our CEO told us.”.

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Fix-and-flip lender Kiavi finalizes $218M private-label offering

Housing Wire

The transaction is estimated to provide capital to support approximately $750 million in loan originations over the life of the deal and will help real estate investors revitalize aged homes across the country,” Ki avi said in announcing the deal. homes are over 30 years old.” billion, according to IMF.

Investors 393
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ConsumerDirect Mortgage rebrands as Real Genius, introduces new tech platform

Housing Wire

Jamie Thornton, director of online mortgage lending at Real Genius, said in a statement that the company has “invested a significant amount of time and resources” into developing technology for customers. Since 2016, we’ve helped more than 51,000 families with their mortgage needs, lending more than $15 billion,” said Thornton.

Mortgage 370
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Deephaven Mortgage re-enters non-QM market

Housing Wire

Non-QM lending is poised for growth in 2021. HousingWire recently spoke with Mike Fierman, managing partner and co-CEO of Angel Oak, about the non-QM lending outlook for 2021 and how Angel Oak’s “originate to hold” model benefits originators. But now, investors are once again turning to the non-QM space. “The in Q3 2020.

Mortgage 417