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
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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
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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 »
Higher pretax income from its originations business in the first quarter versus comparative period was offset by lower earnings related to servicing for PennyMac Financial Services. Processing Content The company reported net income of $82.3 million for the first quarter. This compared with $106.8 million for the fourth quarter and $76.3 million for the first
PennyMac 1Q profit falls as servicing drags on results Read More »
Figure Technology Solutions announced its second partnership over the past month, this time with an AI-powered working capital company focused on expanding and democratizing access to financing for small- and medium-sized businesses. Processing Content The collaboration with Credibly will help Figure grow its presence in the SMB lending space, one of the company’s fastest growing
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Home Equity Conversion Mortgages endorsements fell for the second month in a row in April, although trends show proprietary reverse products are now filling some of the void. Processing Content Endorsements of the Federal Housing Administration-backed product dropped 1.4% between February and March to 2,088 loans from 2,117, maintaining a slowdown that appeared in the
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Closing costs for a purchase mortgage transaction average 1.04% of the home sales price, but this can range from a low of just 39 basis points to a high of 3.06%, a report from LodeStar Software Solutions found. Processing Content On a dollar basis, the national average was $4,528 with a median home price of
Purchase mortgage closing costs dipped in 2025 Read More »
U.S. homeowners are sitting on more than $11 trillion in tappable home equity, and the mortgage industry is racing to capture it. Processing Content With interest rates providing little incentive for many homeowners to refinance or relocate, lenders and technology firms are pouring resources into home equity lines of credit, a product long dominated by
SoFi enters HELOC market amid home equity surge Read More »
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
Maine introduces bill to ‘effectively ban’ HEI contracts Read More »