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Figure Lending lands $100M funding facility

Housing Wire

SoFi co-founder Mike Cagney’s latest digital mortgage operation Figure Lending closed on a $100 million funding facility from JPMorgan Chase this week. In a statement, Figure said the $100 million loan facility represents another push toward growth in mortgage lending. Mike Cagney, SoFi. billion across these deals.

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Ex-MBA prez Ronald McCord to pay $52M mortgage fraud penalty

Housing Wire

As the housing market changes, so does lending fraud. This white paper covers new fraud schemes in mortgage lending as well as solutions for fraud detection. In early 2017, after Spirit and Citizens stopped funding his company’s mortgages, McCord sought a new warehouse lender. Presented by: First American Data & Analytics.

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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. 19, 2017, which went into effect later that year. 19, 2017,” FHA said in its announcement. 19, 2017,” FHA said in its announcement. The ML goes into effect on Sept.

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FHA proposes updates to reverse mortgage debenture interest rates

Housing Wire

The draft Mortgagee Letter (ML) “proposes updates to HUD’s calculations for the payment of debenture interest for HECM claims and establishes a process for retroactively adjusting the calculation of debenture interest for claims filed on HECMs that became due and payable on or after September 19, 2017,” FHA said in an announcement of the proposal.

Mortgage 443
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FHA’s HECM limit rises above $1.2 million in 2025

Housing Wire

. “I am delighted to see the HECM lending limit increase for calendar year 2025,” Irwin said in a statement to HousingWire ‘s Reverse Mortgage Daily (RMD). For several years, the reverse mortgage lending limit remained stagnant before rising in 2017 from $625,500 to $636,150. compared to third-quarter 2023.

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Orchard reaches unicorn status with $100M funding round

Housing Wire

It also launched its lending division, Orchard Home Loans, in July. Its rival, Knock , shifted its focus to lending around the same time. Since its launch in 2017, Orchard has raised $255 million in total equity. Last year, the company completed a $69 million series C funding round.

Lending 435
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Ex-MBA president McCord pleads guilty to mortgage fraud

Housing Wire

In early 2017, after Spirit and Citizens stopped funding his company’s mortgages, McCord sought out a new lender. He set his sights on CapLOC , a North Carolina-based mortgage lending business, and tried to sell CapLOC First Mortgage Company’s lending arm for a quick buck. billion for the government-sponsored entity.

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