Tennessee has enacted a new state law that opens up originations for proprietary reverse products. Processing Content Approved in both state chambers this spring, the Tennessee Reverse Mortgage Innovation Act was signed into law in late May by Gov. Bill Lee. The act effectively changes language found in previous legislation, which restricted reverse lending to […]
Tennessee legalizes proprietary reverse mortgages Read More »
In the heat of the homebuying season, multiple companies in the mortgage industry are rolling out new products to stand out from competitors. Processing Content LoanDepot partnered with Figure last month to launch a five-minute loan product. Finance of America released a new reverse mortgage line of credit product. And Figure teamed up with Credibly
Mortgage tech roundup: New tools for lenders and brokers Read More »
Federal Housing Administration rules in certain states can add a challenge for lower income couples with one spouse who has a credit issue, and a real estate group wants to remove that extra hurdle. Processing Content The concern lies in the fact that an option otherwise available to FHA borrowers, putting the loan in the
Why an FHA rule for nonborrowing spouses is making waves now Read More »
Rocket Mortgage and its third-party originations unit Rocket Pro have begun utilizing the VantageScore 4.0 model, a company statement said. Processing Content It will be doing this alongside the Classic FICO model, which has been in vogue since automated underwriting was introduced by the government-sponsored enterprises. This is now live in both channels at Rocket.
Rocket confirms VantageScore availability for retail and TPO Read More »
Call it non-QM, call it non-agency, call it whatever you want. Just don’t call it a niche product anymore. That’s what panelists at the Mortgage Bankers Association’s Secondary and Capital Markets Conference sought to drive home. Processing Content And this business is more than just non-qualified mortgages, they added. “I would even say that about
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From left: David Battany, Todd Leddon and Chris Bennett Loan product rollouts are often viewed as origination efforts, but capital markets teams that work to do things like ensure such efforts have appropriate investor support can make a difference in how well they go too. Processing Content “The secondary market is absolutely essential,” Bob Broeksmit,
How cap markets teams make a difference in product rollouts Read More »
Three mortgage companies are expanding their third-party origination footprints in different ways. Processing Content Achieve is starting a correspondent channel to help market its fixed-rate home equity line of credit product. Nectar Kalajian has joined the company to head up this effort, Achieve Pro, as the managing director of Achieve Home Loans. Among Kalajian’s past
HELOC players expand correspondent, TPO offerings Read More »
Mortgage credit availability decreased in April, even though rates fell in three consecutive weeks during the month. Processing Content The Mortgage Bankers Association’s Mortgage Credit Availability Index declined 0.4% to 107.9 in April, it reported Tuesday. The index reached 108.3 in March after a 1.1% gain, the highest mark since August 2022. “After three months
Mortgage credit availability drops for first time this year Read More »
Figure Technology Solutions reported a profitable start to 2026, driven by new partnerships on its blockchain-backed loan and capital marketplace, and signaled a potential future mortgage offering. Processing Content The New York-based fintech reported net income of $45 million in the first quarter, almost tripling its gain from $15.1 million three months earlier. The latest
Figure drops hints of future mortgage product Read More »
UWM Holdings, locked in a battle with CrossCountry for Two Harbors Investment, had a banner first quarter, with GAAP net earnings of $170.4 million. Processing Content This compared with $165.5 million in the fourth quarter, and a net loss of $247 million for the first quarter of 2025. Addressing the transaction, Chairman, CEO and President
UWM posts strong Q1 in the midst of Two Harbors battle Read More »