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Small-balance commercial lender Stronghill Capital shut down its nascent consumer and correspondent lending businesses late last week. The Austin, Texas-based lender will continue offering small-balance commercial and business purpose debt service coverage ratio (DSCR) loans to its clients, CEO John Eisinger told HousingWire Monday morning.
Mortgage lender Kind Lending has hired Tammy Richards , who previously held positions at Bank of America , Caliber Home Loans and loanDepot , as its chief operating officer. Kind Lending, a California-based lender founded by industry veteran Glenn Stearns, is a client of LendArch , a mortgage consulting firm that Richards founded in 2021.
HighTechLending , a California -based top-10 reverse mortgage lender, announced on Friday that it is rebranding its wholesale lending division to American Senior Lending Wholesale Division in an effort to better align its identity with key business lines designed to serve older borrowers.
The complexities of Non-QM lending demand a strategic approach that combines innovation, efficiency, and resilience. Acra Lending has positioned itself at the forefront of this sector by investing in its workforce, optimizing processes, leveraging cutting-edge technology, and building a robust infrastructure. Craig Timmins.:
Real estate technology firm Knock announced Thursday that its bridge loan product is being integrated into the borrower application process at Baltimore -based NFM Lending. “With so many of our lending officers turning to the Knock Bridge Loan as a financing solution, this integration will streamline the approval process.
Maxwell , a Wells Fargo -backed mortgage fintech, announced Wednesday that it has struck a deal to acquire the digital lending platform Revvin ( formerly known as MortgageHippo ) to enhance its point-of-sale technology. The financial terms of the transaction have not been disclosed.
Planet Home Lending Area Sales Manager Tom Reber National mortgage lender and servicer Planet Home Lending has hired Tom Reber as Area Sales Manager in Jacksonville, Florida. I am excited to join Planet Home Lending and lead our expansion in North Florida and Southern Georgia,” Reber said.
The rise of private lending Private lenders disrupted the monopoly of traditional banks and the private lending market has since seen a remarkable rise, reaching $1.5 With the rise of private lending comes an increase in competition, from new and traditional lenders.
If we learned anything from HousingWire’s recent AI Summit , artificial intelligence (AI) is rapidly reshaping lending by streamlining processes, reducing costs, and enhancing the overall borrower experience. In addition, the regulatory environment is ever-changing and with it comes increased burdens on the lending industry.
The advantages for lenders The integration of advanced data collection techniques and the all-in-one ecosystem offers several significant advantages to lenders, positioning Opteon as a preferred partner in the lending process. This efficiency translates to cost savings and improved operational workflows for lending institutions.
Guaranteed Rate Affinity announced a promotion on Tuesday as the joint venture company named 22-year industry veteran Mark Rawls as vice president of mortgage lending. Rawls is the latest addition to a leadership team of seven executives at the developing company.
Anthony Casa, President & CEO of UMortgage , isn’t mincing words when it comes to the lending practices that often victimize our veterans. Patton Gade, National Director of Military Lending at UMortgage and 2023 Scotsman Guide #1 VA Loan Originator, says, “we can do better. Our veterans deserve better.
Nationwide direct mortgage lender US Mortgage Corporation announced the appointment of Alana Dorbandt as its new vice president and division lending manager. In the new role, Dorbandt will lead the company’s expansion into the Southwest Region.
announced this week the appointment of Gabe Bodner to the head of its 55-plus lending division which includes its reverse mortgage business. I believe that the executive team at OneTrust has ultimately realized the importance of utilizing education with older clients, and specifically in the reverse mortgage space.
Los Angeles -based Dunmor , a technology -enabled lender that specializes in loans for residential real estate investors , has added a pair of experienced executives in the business-purpose lending space. Pham has 23 years of marketing experience in the real estate and finance sectors.
So he did what a lot of retail loan officers in the industry were doing — Mike would reclassify a self-generated lead as a corporate-generated lead, thus slashing his compensation from 125 basis points down to as low as 50 bps, giving him a low enough rate to win the client and eventually close the deal. The lower comp rate stung.
We specialize in non-agency loans, including bank statement loans, government lending, new construction and renovation products, and HELOCs , positioning us as a leader in the industry.” Additionally, Flagstar offers direct access to underwriters for product-specific advice and expertise in Non-QM, VA, and FHA lending.
Self-sourcing LOs Peter Sciandra , executive vice president of reverse lending secondary marketing at Fairway Independent Mortgage Corp. But there are also so many clients in the companys existing servicing portfolio, she said, that renewed outreach there could present an opportunity for the division.
Last week, business-purpose residential mortgage lender Dunmor announced that it received a minority equity investment from Newfi Lending , a nonagency mortgage lender owned by funds managed by Apollo Global Management. Apollo has 16 lending platforms in the U.S. Ruimy: The transaction was completed with Apollo Global Management.
The brokerage has entered into a joint venture with Barrett Financial Group to offer what the companies believe will be a wide range of mortgage products and streamlined underwriting to The Agency’s luxury clients. Dubbed Aclara Lending, the joint venture will start in Southern California with plans to expand in the near future.
The company named veteran mortgage professional Connie Lindsay as its senior vice president of mortgage lending in Washington state. ” Lindsay also expressed excitement over the opportunity to help clients in Washington. Top 10 mortgage lender Rate — previously known as Guaranteed Rate — announced a new promotion on Wednesday.
HousingWire recently spoke with David Bernard, senior managing director of Specialized Mortgage Services at Western Alliance Bank , Member FDIC, about warehouse lending and how the warehouse sector and mortgage finance have progressed and continue to evolve. DB: Warehouse lending has evolved beyond traditional boundaries.
Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. ” For refi clients, he’s preaching patience. Patel is in conversation with existing clients who can save between 50 to 75 basis points.
Mortgage and title clients are undergoing a significant transformation with the shift from Encompass Software Development Kit (SDK) to Encompass Partner Connect (EPC). GridBase is a proven leader in title and lending technology, offering a seamless, coding-free solution that simplifies migration while enhancing operational workflows.
an 11% share of the country’s commercial real estate lending market. Last year, Wells Fargo chose to exit the home lending correspondent channel and reduce its footprint in residential mortgage servicing. The bank seeks to minimize risk in the mortgage business by reducing its size and narrowing its focus.
In his new position at AnnieMac, Aubourg will tap into his leadership skills to drive growth and improve the mortgage experience for clients. Aubourg has a track record of leading successful mortgage lending teams and divisions across the Northeast region, including at Mortgage Equity Partners and Movement Mortgage.
Cabe, who most recently served as president of reverse mortgage lending at Fairway Independent Mortgage Corp. He also previously served as a reverse mortgage consultant for Security One Lending in the early 2010s. “I C2 has the support and allows more options for my clients.
From tweaks in consumer protection laws to new lending standards and disclosure requirements, the goal is always to foster a clearer and fairer lending process. For example, ongoing updates to the Qualifying Mortgage Rule, which has been rewritten twice and may see another revision soon, have significantly shaped lending practices.
As they put it, “We give our clients a complete ecosystem of proven tech, data, and analytics that supports the whole real estate and housing finance journey.” ICE’s sees this suite of products making a big difference for its clients. This proactive approach helps clients avoid costly mistakes and audits.
Stavvy , a fintech company specializing in digital and remote collaboration for lending and real estate companies, announced on Wednesday a new partnership with WFG National Title Insurance Company (WFG) to provide the company and its customers with eClosing technology solutions.
The partnership will boost loan officers ’ capacity to deliver personalized, efficient and tech-powered solutions directly to their clients and agents. Miami-based fintech provider LoanPASS integrated Uplist ’s suite of home-shopping tools into its pricing engine, the company announced in November.
Industry veteran John Gibson is leaving the company to pursue other opportunities, and he will be replaced by Rich Hoffman as senior vice president and head of TPO lending. He’s replacing Gibson, who spent nearly five years leading the TPO channel and focusing on client experience. lender in the space.
She will now oversee all aspects of the company’s enterprise development team, which is expanding as Incenter seeks to create new solutions and bolster competitive advantages for its clients. “I I am thrilled to have the opportunity to help our clients strengthen their market positioning despite today’s challenges,” Duffy said in a statement.
In a high(er) rate environment, non-QM (non-qualified mortgage) lending continues to play an increasingly pivotal role. To explore how Acra Lending has adapted to these shifts, we sat down with Ryan Barrus, a key player in the company’s non-QM division. HW: Acra Lending recently launched its Glide portal. RB: Absolutely.
It’s exciting to work with people with a common vision, and to have a meaningful role in moving our clients forward.” Incenter is a family of companies committed to helping lending and depository institutions maximize their financial and operational performance and leverage new pathways to growth.
In the message reviewed by HousingWire, DeJoseph wrote that by becoming part of a larger organization, Garden State gains access to a “national lending platform, greater resources, enhanced career development opportunities, and the ability to offer more comprehensive services to our clients, well beyond residential mortgage lending.”
Win more deals with Calque by helping clients make non-contingent offers and qualify more easily. Our binding backup offer protects you and your client if the home doesn’t sell. Product Fast Facts #1 Calque is not a lender, and we never compete with our lending partners for purchase business.
It reports that its 300-plus clients include several major U.S. As seasoned experts on loan quality, Kim and her team are dedicated to providing unparalleled knowledge, expertise and reliability for our clients. mortgage lenders, high-profile Wall Street firms, along with many banks and independent mortgage companies.
As the mortgage industry continues to evolve at breakneck speed, risk management has never been a more critical lynchpin in the lending ecosystem. This experience, coupled with their use of proprietary and industry-leading technology solutions, has allowed MCRS to effectively serve a wide range of clients.
billion in the next five years for lending and investments to low- and moderate-income (LMI) clients and census tracts, with 30% of the total tied to mortgage lending. First Financial Bank’s plan also includes investments in small-business lending and donations to organizations that create and preserve affordable housing.
On last week’s episode of the Power House podcast , host Clayton Collins and guest Joe Tyrrell, the CEO of Optimal Blue , go in depth on how the mortgage technology firm pushes AI-driven data solutions, innovation and leadership for lenders interested in making better data-driven lending decisions.
With the acquisition , Consolidated Analytics expands its valuation solutions, offering clients tools — from data and analytics to appraisals — to predict market value and access a more comprehensive selection of collateral assessment products, the company said.
Having used OptifiNow before, I can confidently say it’s the most efficient CRM system for TPO lending,” Shea Pallante, chief lending officer at OptifiNow, said in a statement. ArcHome will also have access to automated marketing software that tracks client activity across an “integrated history database.”
Back in 2008, an artificial housing bubble burst due to reckless mortgage lending and speculative buying, leading to widespread foreclosures and a dramatic drop in home prices. Staying in consistent touch with clients, lenders, contractors, and other industry professionals can enhance service offerings and strengthen client relationships.
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