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On Monday, the company announced the addition of two artificial intelligence-powered assistants to help real estate investors and mortgage brokers. Harvey will assist real estate investors while Donna is for mortgage brokers. It’s technology designed to feel human.”
Global investment bank Cambridge Wilkinson today announced the closing of a forward flow agreement up to $100 million for a private real estate lending platform specializing in short-term bridge , fix-and-flip, construction and land development loans.
A California regulator has revoked the residential mortgage lending license of LoanSnap , the latest in a series of difficulties for the fintech lender. That policy, which is designed to protect consumers from lender fraud and financial risk, expired in early August.
Mortgage lender Revolution Mortgage has partnered with Tavant, an AI-powered digital lending company, to integrate Tavant’s Touchless Lending product suite into Revolution Mortgage’s platform. The technology is designed to automate and streamline the underwriting and application processes, per the statement.
Acra Lending , a private mortgage lender, announced its integration with Tavant ’s Touchless Lending Collateral Analysis. This partnership marks a milestone in Tavant’s expansion into non-QM lending. Collateral Analysis is a proprietary product of Tavant’s Touchless Lending automation platform.
Deephaven Mortgage a pioneer in non-QM lending offers loan products to serve borrowers who might not otherwise qualify for a traditional loan. million, so its primed and ready to meet the needs of most property investors. Also, DSCR five- to nine-unit loans are designed for larger multi-family homes. These loans go up to $2.5
Non-QM Prime is designed to offer “flexible documentation” to borrowers with strong credit profiles. Cardinal Financial is also offering real estate investor financing with its Foreign Debt Service Coverage Ratio ( DSCR ) and Investor Solutions DSCR products.
How can today’s mortgage lending market be summed up in one word? Acra Lending has done precisely that. Acra Lending is a proven leader in the space, and it has adapted and thrived despite market shifts. higher interest rates and elevated home prices create openings for non-QM lending. billion to $3.47
Non-bank originator Change Lending lost its Community Development Fund Institution (CDFI) certification, according to a report from Barron’s. Change Lending was removed from the CDFI Fund’s list of certified program lenders last week, the outlet reported. The CDFI certification is a designation given by the U.S.
The Consumer Financial Protection Bureau (CFPB) has finalized the rule on small business lending, which fulfills a mandate from Congress and aims to increase transparency while mitigating discrimination. For decades, the government has assembled data pursuant to Congressional mandates on residential mortgages,” the CFPB said.
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.
Name Job Title Company Name Aaron Heidorn Director of Software Engineering & Infrastructure Cloudvirga Aaron Smith Director, Sales CubiCasa Adrian Provost Chief Executive Officer Realty ONE Group Terminus Ana LeBlanc Human Resources Director InterLinc Mortgage Annie Lemon Producing Branch Manager Gold Star Mortgage Financial Anthony Russo Diamond (..)
Here is where it gets murky – choosing the right non-QM lending partner! Options that include Bank Statement, Jumbo, No Income Investor Cash Flow, ITIN, Asset Qualifier, and an option for borrowers with credit events. Are the lender and end investor affiliated? Or do they have to rely on approval from another investor?
Blue Sage Solutions’s primary product offering is a cloud-based digital lending platform designed to operate in the retail, wholesale, and correspondent lending channels while ensuring compliance. Additionally, the platform is accessible to all users, regardless of their current loan origination software.
DOGE Service that are ostensibly designed to limit or dismantle the Consumer Financial Protection Bureau (CFPB), its former director appeared Friday morning on CNBC to discuss the upheaval while warning consumers about the risks of a diminished bureau. Scrutiny by the CFPB scrutiny gave these companies serious concerns, Chopra said.
Not only does Flagstar offer brokers direct access to seasoned sales, support and underwriting teams, it also provides a product set that includes specialty lending options like Advantage non-agency loan, jumbos, new construction, renovation products and HELOCs, and in the pipeline, loans to foreign nationals, seconds and investor property loans.
Government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac announced this week the release of their “Mission Index,” updating or expanding their single-family social bond framework to better communicate the goals of the index to stakeholders and investors. The GSEs issued separate announcements and a joint statement.
The rule is designed to “protect the millions of workers who are saving for retirement diligently and rely on advice from trusted professionals on how to invest their savings,” DOL said in its announcement. Retirement investors are best protected by a uniform and protective framework.”
Wholesale lending is great for helping serve underserved borrowers. The wholesale channel has the ability to offer borrowers a variety of choices, with access to many different bank and lending programs. As a CDFI (Community Development Financial Institution) — a designation given by the U.S.
As investors recognize the potential these older properties hold and the inventory and profits they could open up in such a red-hot housing market, demand for older, more distressed properties should increase. Traditional lending approaches are time-consuming when it comes to fix-and-flip properties. The only problem?
Notable in light of the current servicing challenges facing the industry, Stavvy’s eClosing technology is designed to facilitate faster borrower communication and closings as servicers work through loan modifications, referrals and forbearance. Presented by: Sagent Lending Technologies.
Encompass by ICE Mortgage Technology is designed to enable users to manage their entire lending workflow in one place, from the customer’s initial point of thought through investor delivery. Every lender and investor has their own unique approach to doing business and their own mix of channels they utilize.
Roostify, which powers the digital mortgage platforms of JPMorgan Chase , TD Bank , Guild Mortgage , HSBC Bank USA and more, allows different lending parties to bring in data and information from online sources that then tailors the homebuying process.
Sprout said it intends to grow its retail channel through increased direct sales to consumers and residential investors, dedicated retail facilities, and joint ventures. In the last six months, Sprout has unveiled a series of new products for it non-QM program , resumed correspondent lending.
Acra Lending is doing what it can to help free up inventory. Acra’s jumbo prime mortgage solution is designed to provide borrowers with the larger loan amounts needed to purchase a high-value property, with loan amounts up to $3 million. Acra Lending plans to launch its fix’n’flip loan program in the coming weeks. Fix’n’flip.
MAXEX , a major mortgage trading and aggregating platform, has unveiled a series of new programs designed to serve originators and loan buyers in the growing non-QM lending market. MAXEX is an Atlanta-based fintech company that is backed by leading private-equity and capital-markets investors, including J.P. Morgan Chase.
Encompass by ICE Mortgage Technology is the industry’s most complete end-to-end solution that provides the flexibility and configurability needed to deliver a next-generation lending experience for every channel, all from a single system of record.
Developed over the past two years, the newly rebranded Flyhomes portal is proprietary technology that was designed under the guidance of ZeroDown co-founders Laks Srini and Abhijeet Dwivedi, who have joined Flyhomes as chief technology officer and chief growth officer, respectively. How does the job market here compare to other cities?”
Separate to the Homepoint IPO, Home Point Capital raised $500 million in a debt offering earlier this month, returning half of the proceeds to original investors and shareholders affiliated with its private equity backers. Mortgage Tech Demo Day. a share.
Its investors included Virgin Group , led by British business magnate Richard Branson; Liquid 2 Ventures , led by former NFL star Joe Montana; and LinkedIn co-founder Reid Hoffman. The regulator also charged the company with violations of the Truth in Lending Act and Fair Credit Reporting Act.
Flagstar Bank and the FinTech Consortium revealed that fintech startups Home Lending Pal , Stavvy and Real Key are the latest initiates to the companies’ ongoing MortgageTech Accelerator program. Explore three steps that enable technology to work more efficiently, which helps drive profitability. Presented by: Total Expert.
But recently a new factor is accelerating the problem — massive purchases of single-family homes by larger investors. In Texas, for example, major institutional investors bought 28% of the single-family homes sold in 2021. Nationally, institutional investors are buying over 13% of homes, and that share is increasing.
Debenture interest refers to the percentage of a return that an investor would receive for lending money through a debenture. These changes are designed to “reaffirm” FHA’s commitment to the HECM program, as well as its long-term stability, the ML explained. 19, 2017, which went into effect later that year.
. “I am thrilled to bring my decades of experience in real estate finance to Pretium as the company scales its efforts in real estate debt, and continues to create value for homebuilders, investors and communities,” Kulvin said. The company said at the time that it had acquired more than 7,500 BTR homes in 11 states.
By doing so, ICE helps its clients cut down on mistakes, speed up workflows, and offer a modern lending experience that works better for both borrowers and industry professionals. One of ICE’s main focus points is the platform’s user-friendly design and overall experience.
Purveyors of very complex financial instruments, sold to risk-averse investors under the careful oversight of government regulators, have given us a process that must conform to investor and regulatory compliance requirements. Lending technology out of focus. We have fared much better on the automation side.
One issue is that among the low inventory, there are even fewer homes that are move-in ready, said Keith Lind, executive chairman and president of Acra Lending. “We According to Lind, one way for existing housing stock to be expanded and improved upon is through investors or developers using fix’n’flip loans.
Lenders invest significant time and money into building diverse portfolios of loan products designed to meet borrowers’ unique needs, yet those products often sit underutilized,” Mortgage Coach and Sales Boomerang Chief Lending Officer Joe Puthur said in a statement.
This article was written for FinLedger, HW Media’s new fintech focused news brand designed specifically for financial services professionals in banking, payments, insurance and proptech. KBV Research predicts the global market for digital lending platforms , including those geared toward mortgages, will reach $11.6
As this settlement demonstrates, we are committed to holding mortgage lenders accountable when they choose to abuse the integrity of vital government programs that are designed to assist homeownership,” U.S. Through Guild Holdings, the lender’s management and the private equity investors planned to issue 8.5
CAPE Analytics has unveiled a new, AI-powered , automated property condition report (aPCR) tool crafted for institutional lenders, whole loan investors, and real estate investors. The data can also be accessed via an API, in bulk data, or through a dynamic web application.
The growth of EarnUp follows a surge in interest from companies seeking smart programs designed to help employees achieve a more well-rounded financial picture. Lending and servicing organizations turn to EarnUp to reduce risk and streamline operations.
Several of MAXEX’s existing investors, including J.P. In September 2022, the digital mortgage platform unveiled a series of new programs designed to serve originators and loan buyers in the growing non-QM lending market. The companies claim they collectively serve more than 500 market participants.
There is also the matter of efficiency versus increased lending cost. With so many different types of borrowers beginning to look towards non-QM for their lending needs, LOs and brokers are wise to incorporate a diverse set of loan options. With non-QM in a current transition state, forecasting future demand levels can be tricky.
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