Figure Technology Solutions has formally launched its long-awaited initial public offering that could bring over $508 million in gross proceeds to the company if the overallotment is exercised. The company is offering over 21.46 million shares, with an overallotment of 3.95 million shares. In addition, 4.85 million shares are being sold by existing stockholders in […]
Figure Technology seeks $508M in long-awaited IPO Read More »
In July, Fairway Independent Mortgage refreshed its branding, including revising its name to Fairway Home Mortgage. The company was started as a mortgage broker by its CEO Steve Jacobson in 1996. It grew by adding regional branches throughout the country. Fairway has been very successful in retaining staff long-term. David Lazowski, who in 2024 became
Fairway rebrands with focus on end-to-end lending Read More »
One aspect of a law that takes effect in Connecticut on Oct. 1 was designed to improve the surety bond cancellation process by fully automating it, but making that possible will involve a procedural change that servicers who are also lenders in the state will need to understand. “The bill generally requires surety companies to
What lender-servicers should know about a new state process Read More »
Wholesale lender AD Mortgage has launched a borrower-facing portal in order to improve the experience of their broker’s clients, the company said. AD Home gives consumers “a smoother, faster and more intuitive way to manage their loans,” the company’s announcement said. AD is known as a non-qualified mortgage lender, but it also offers conventional and
Wholesaler AD Mortgage launches borrower portal Read More »
Not long ago, a storefront sign was the most important marketing channel a retailer had. If you didn’t have one, customers didn’t know you existed. Today, for mortgage companies, that sign has been replaced by something else entirely: search. But with borrowers now turning to ChatGPT and other AI tools instead of Google, even ranking
Why AI search could cut off your leads Read More »
The softening housing market is starting to show up in slightly smaller mortgage payments. Home buyers paid up to $45 less on mortgage applications in July compared to June, according to the Mortgage Bankers Association. While some home loans are still more expensive than the same time last year, the trade group said buying power
How did monthly mortgage payments shrink this summer? Read More »
The U.S. Mortgage Insurers repeated its commitment for members to work with the Federal Housing Finance Agency to implement VantageScore 4.0. In an Aug. 27 blog post, the group said it welcomed FHFA Director Bill Pulte’s announcement permitting Fannie Mae and Freddie Mac to accept loans using the VantageScore 4.0 algorithm and its members will
Mortgage insurers commit to using VantageScore 4.0 Read More »
Mortgage originations increased in the second quarter led by a boost in refinances, but the numbers show signs of the challenges the housing market still presents to lenders, according to new findings from Attom. Total origination volume between April and July clocked in at 1.76 million transactions, jumping 19.4% from the first quarter’s 1.47 million,
Refinances drive originations growth in Q2 Read More »
The Federal Housing Administration, which receives the largest share of mortgage applications among the government guarantors, is adopting the UAD 3.6 appraisal format going into place in the conforming market. The new UAD 3.6 Uniform Residential Appraisal Report is replacing traditional boilerplate forms which are currently being used, such as the Fannie Mae 1004. But
FHA adds momentum to new appraisal format’s use Read More »
Mortgage application volume declined for the second week in a row, as a small rise in rates put a damper on refinance activity, the Mortgage Bankers Association said. The Market Composite Index decreased by 1.4% on a seasonally adjusted basis for the period ended Aug. 15. The refinance component was down by 3%, although versus
Higher mortgage rates slow refi application volume Read More »