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Maine introduces bill to ‘effectively ban’ HEI contracts

Maine introduces bill to ‘effectively ban’ HEI contracts

Home equity loans, Industry News, Law and legal issues, LOAN PRODUCTS, Regulation and compliance /

Maine’s governor signed new legislation last week, applying comprehensive regulations to originations of home equity investment products in classifying them as “residential mortgage loans.”  Processing Content Gov. Janet Mills signed the bill into law following early April passage in both chambers of the state’s legislature. In labeling HEIs as “shared appreciation mortgage loans,” bill LD […]

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Second-home volume shrinks from pandemic-era highs

Housing markets, Industry News, NAHB, Originations /

Second-home purchases in the U.S. show signs of pulling back in the years after their pandemic peak, with more than half of national volume currently concentrated in eight states.   Processing Content In 2024, the total number of second homes came in at 6.2 million, representing 4.3% of total housing stock, according to an analysis of

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Blue Owl acquires Sila Realty Trust for $2.4 billion

Industry News, M&A /

Blue Owl Capital, which has been ramping up activity in the mortgage sector, announced Monday it bought Sila Realty Trust in an all-cash transaction valued at about $2.4 billion. Processing Content Certain affiliates of Blue Owl will acquire all outstanding shares of common stock of the healthcare-focused real estate investment trust for $30.38 per share,

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Lock-in effect drives home renovation boom, Redfin says

Home equity loans, Housing Inventory, Housing markets, Industry News, Originations /

With mortgage rates still hovering above 6% and far greater than those seen during the pandemic, homeowners are choosing to renovate their homes rather than move. Processing Content About 43% of Americans upgraded their homes last year, and 33% plan to remodel in the next year, according to a recent survey from Redfin that was

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Dark Matter names AI-focused CEO, cuts staff

Dark Matter names AI-focused CEO, cuts staff

Career moves, Industry News, Mortgage technology /

Mortgage software provider Dark Matter Technologies has promoted its chief technology officer Vikas Rao to CEO in a move aimed at positioning itself to best compete in the artificial intelligence age.  Processing Content Rao replaces Sean Dugan, who headed the company for just over a year after previously serving as its chief revenue officer. Formed

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Kastle AI integrates with ICE’s mortgage servicing system

Kastle AI integrates with ICE’s mortgage servicing system

Artificial Intelligence, Industry News, Mortgage technology, Servicing /

Kastle AI is accelerating AI adoption for mortgage servicers by integrating with Intercontinental Exchange’s mortgage servicing system, MSP. Processing Content The integration allows servicers on MSP to deploy Kastle’s AI agents without building custom infrastructure, Kastle said in a press release Friday. Once authorized, Kastle can use the integration to access loan data and execute

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Fannie Mae establishes new AI governance guidelines

Artificial Intelligence, Fannie Mae, Industry News, Mortgage technology, Originations /

Fannie Mae released new guidelines surrounding the use of artificial intelligence and machine learning, joining its fellow government-sponsored enterprise in mandating new AI policy.   Processing Content Introduced last week, Fannie Mae’s rules officially take effect on Aug. 6 for sellers and servicers of loans it guarantees. Similar to updates already in place at Freddie Mac

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HEI customers file new class action against Unison

Home equity loans, Industry News, Law and legal issues, Regulation and compliance /

Home equity investment provider Unison is the target of a potential class action lawsuit in Colorado that could void its existing contract agreements in the state. Processing Content In legal documents filed in Colorado federal district court this week, plaintiffs Katharine and Charles Kane sued the San Francisco-based HEI firm after discovering the amount they

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LoanDepot taps Figure to launch 5-minute loan product

Industry News, loanDepot, Mortgage technology, Originations /

LoanDepot is partnering with Figure Technology Solutions to launch a home loan product that they say can approve borrowers in as little as five minutes and deliver funding in as few as five days. Processing Content The Irvine, California-based lender will integrate Figure’s proprietary credit and loan underwriting engine into its own proprietary mello technology

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Iran ceasefire brings brief reprieve for mortgage rates

Industry News, Mortgage Rates, Mortgages, Originations /

Mortgage rates backed off their recent 2026 high this week after concerns over an escalation of the Iran War temporarily subsided, but the numbers don’t necessarily mean an end to ongoing volatility, economists warned.  Processing Content The 30-year fixed average decreased 9 basis points to 6.37%, according to Freddie Mac’s Primary Mortgage Market Survey of

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