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Guaranteed Rate Affinity announced a promotion on Tuesday as the joint venture company named 22-year industry veteran Mark Rawls as vice president of mortgagelending. Rawls is the latest addition to a leadership team of seven executives at the developing company.
Our economy faces many challenges persistent high mortgage interest rates , a declining rate of existing home sales, elevated costs for basic goods and services, labor market imbalances, and rising health care costs to name just a few. The FHLBanks are also key players in affordable housing and community development initiatives.
Multigenerational housing, once a rarity, is now becoming commonplace and reshaping not just how we live, but also how we lend and borrow. For mortgage professionals, this presents a chance to think beyond traditional lending practices and become true financial partners for these families.
Dallas -based Certainty Home Lending , an affiliate of Guaranteed Rate , named Shadi Kamran as its new national business development executive. Our comprehensive product suite offers solutions for virtually every mortgage and home financing need,” Kamran said in a statement. “Our
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. This interview has been edited for length and clarity.
In the modern mortgage industry, lenders are not just setting themselves apart on who has the best Super Bowl ad or the biggest branch footprint, but increasingly also on their approach to technology. This entails developing a clear understanding of the existing technological landscape, including all systems, integrations, data flows, etc.
The Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) based on data analysis from ICE Mortgage Technology , indicates a drop in mortgage credit availability in September. Key Findings from the Mortgage Credit Availability Index: In September, the MCAI dropped by 0.5%
The mortgage industry has traditionally been dominated by men, and although we have made laudable progress, women in our space still face challenges in terms of pay equity, bias, and advancement. Women do hold a dominant percentage of Mortgage Processor positions, at 78%, and 56% of marketing positions.
A California regulator has revoked the residential mortgagelending license of LoanSnap , the latest in a series of difficulties for the fintech lender. The company — which is headquartered in Costa Mesa, California — also lost its mortgage lender license in Connecticut earlier this month.
Mortgage technology company Gateless is offering its flagship automated underwriting platform to a new lender. The artificial intelligence-based platform, the latest addition to the Gateless AI mortgage tool suite, aims to enhance The Loan Store’s underwriting capabilities.
House of Representatives proposes to relieve Federal Housing Administration (FHA) borrowers of mortgage insurance premiums (MIPs) once they reach a certain level of home equity , aligning FHA policies with those of conventional loans. Mortgage insurance exists as protection from foreclosure on low equity loans. Introduced by Reps.
This is due to several factors, including rising housing costs, stagnant wages, and a decline in the availability of small-dollar mortgages, defined as those for homes priced at $150,000 or below. Cities: A Qualitative Analysis ” and “ The Socioeconomic Consequences of the Decline in Small Mortgages.” Authored by Craig J.
loanDepot has promoted Viviana Abarca, who has worked for the mortgage lender for the past 11 years, to managing director of mortgagelending operations. billion in mortgages, down from $5.3 billion in mortgages, down from $5.3 billion in the previous quarter. billion in the previous quarter.
Tim Nelson, a longtime reverse mortgage industry professional and reverse department manager at VIP Mortgage in Scottsdale, Arizona , spent 20 years in the home lending arena before shifting his focus entirely to reverse. Nelson is now a reverse mortgage borrower in addition to being an industry professional.
Digital mortgage automation solution provider Floify launched a lending platform for mortgage brokers built on the foundation of the Floify point-of-sale (POS) platform. is a software development company that offers a digital loan origination and POS system for the mortgage industry.
Department of Housing & Urban Development (HUD) will co-host the “Mortgage Market Resilience and Access to Credit Summit” on Tuesday, October 15 at HUD’s headquarters. Independent mortgage banks play a key role in making this a reality, and this summit will shine a spotlight on their essential contributions to our housing market.”
Mortgage and title clients are undergoing a significant transformation with the shift from Encompass Software Development Kit (SDK) to Encompass Partner Connect (EPC). This change driven by ICE Mortgage Technologys updated standards promises enhanced efficiency, cost savings, and future-proof workflows.
Ascent Developer Solutions , a private mortgagelending platform, announced its launch Friday in conjunction with an equity infusion from Elliott Investment Management. Founder and CEO Robert Wasmund has a deep background in the residential construction and bridge lending industry. “We now known as Rithm Capital.
The reverse mortgage division of Fairway Independent Mortgage Corp. 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.
In August 2023 , the bank disclosed it was under investigation by the Department of Housing and Urban Development (HUD) after the nonprofit organization filed a complaint alleging violations of the U.S. Fair Lending Act. According to the mortgage tech platform Modex , HSBC originated about $3.5
Tomo Mortgage on Tuesday announced the closure of $20 million in Series B funding that was led by three existing investors and a new participant. The companys tech-driven approach to lending is proving attractive to investors. The company is licensed in 31 states and Washington, D.C., and it has existing offices in Detroit and Seattle.
It also operates outside of the regulatory purview of other home-equity tapping products, including the Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgage ( HECM ). Department of Housing and Urban Development (HUD)-certified housing counseling agency prior to the loans origination.
The Mortgage Bankers Association (MBA)s education division, MBA Education, recently launched its Mortgage Banking Bound (MBB) program at Cleveland State University. Last week, our first class was led by Jen Peachman from GVC Mortgage. 15 and goes until the end of April, Hoffman told HousingWire. Lectures are done by MBA members.
HousingWire is proud to announce the 2025 Finance Leaders, recognizing 40 of the most impactful finance executives in the mortgage and real estate industries.
Planet Home Lending hired Matt Kingsborough as regional sales manager, the Connecticut-based lender, servicer and asset manager announced Thursday. Kingsborough has more than 20 years of experience in mortgagelending and will be responsible for driving the company’s expansion plans in the western U.S. increase.
The former reverse mortgage team from Norcom Mortgage in Avon, Connecticut — which elected not to move to CMG Financial following its acquisition of Norcom last month — has selected Texas-based Supreme Lending as its new home, with John Luddy serving as SVP of reverse lending.
The reverse mortgage division of Rate formerly known as Guaranteed Rate recently announced the hiring of reverse industry veteran Jesse Allen as the president for Rates reverse lending division as the company heads into 2025. Naturally, this includes reverse mortgages, he explained. That role is an active one, Allen said.
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. That’s not sustainable for a healthy mortgage industry. Click here to nominate someone.
Figure Lending LLC is now operating under the umbrella of Figure Technology Solutions , independent of CEO Mike Cagney ’s Figure Technologies. to take its lending division, LendCo , public. CMG Financial , CrossCountry Mortgage , Fairway Independent Mortgage and The Loan Store are Figure’s private-label partners.
How can today’s mortgagelending market be summed up in one word? For homeowners who purchased their property during COVID when mortgage rates were near 3%, the word “comfortable” may come to mind. Acra Lending has done precisely that. For them, the word would likely be “flowing.”
Xactus has become the first technology partner to introduce the FICO Score Mortgage Simulator, a new tool designed to help lenders and borrowers understand how credit decisions impact mortgage eligibility. The simulator, developed by FICO , is the only mortgage industry tool that uses FICO scores and FICO score algorithms.
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.
In the modern mortgage landscape, quality control (QC) stands as a critical pillar supporting the industry’s integrity and stability. This approach integrates QC principles throughout the lending process, from application to servicing.
Representatives from lenders and servicers, as well as individual originators, have told HousingWire s Reverse Mortgage Daily (RMD) that its imperative for borrowers to let their servicer know about anything that could impact the occupancy of their property due to the terms of Federal Housing Administration (FHA)-backed reverse mortgages.
Connecticut-headquartered mortgage servicer and lender Planet Home Lending has hired Doug Long as senior vice president and divisional sales manager. Long was most recently the executive regional manager for Union Home Mortgage before joining Planet. decline from 2022, according to Inside Mortgage Finance.
Better began partnering with big data firm Palantir in 2022 to develop the platform. Better said its new tool communicates with potential and current customers by answering mortgage application questions, verifying outstanding application data and connecting with Tinman in real time. is nearly $9,000.
When reverse mortgage professionals from Australia and New Zealand made the long journey to San Diego last year to attend the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo, they were ready to learn about the core differences between the businesses in a different part of the world.
During the 10-minute conversation, Pieklo explores his new focus on developing AFR’s wholesale lending strategy, the competitive landscape of the mortgage market, and the company’s unique approach to differentiating itself from other big names in the wholesale space.
After increasing in December 2024which showed the Mortgage Credit Availability Index (MCAI) rose by 0.7% to 96.6the MCAI, a survey from the Mortgage Bankers Association (MBA) that examines data from ICE Mortgage Technology , shows that mortgage credit availability also ticked up in January.
Guild Mortgage announced on Thursday that it has hired Nora Guerra, who worked at Freddie Mac for more than five years, as its senior vice president of community lending solutions. According to Guild, Guerra is tasked with developing and expanding its programs, policies, and initiatives directed toward attainable homeownership.
Anaheim, California -based nonbank Change Lending on Tuesday announced the hiring of Madison Simm as its new chief financial officer. Simm has more than 25 years of experience in financial services and has held multiple executive roles at banks and mortgage companies. I am thrilled to join Change Lending as CFO,” Simm said.
In 2024, a key element for the reverse mortgage industry was a sense of newfound collaboration that many industry participants felt with forward mortgage players. He also said he is encouraged by a greater role being played by other forward mortgage organizations in seeking out such partnerships. Mayer said.
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.:
Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising. from $490 billion in the second quarter.
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