Better have launched the Equity Unlocker, allowing employees to use vested equity as collateral for mortgages.
Capital One announced last year that they were exiting the mortgage and home equity originations business; some of those employees are landing at Flagstar bank to expand their direct lending operation; Kristy Fercho, president of mortgage for Flagstar stated, “Capital One built a best-in-class digital platform, so we are excited about attracting this proven, high-caliber team in the direct-to-consumer space to Flagstar.” Source
Fannie Mae is testing a new program which would have appraisers assess a property without physically visiting it; appraisers will...
Lennar Corp. is the largest homebuilder in the United States; they will leverage technology built by Blend to allow their customers to apply for mortgages online and through mobile devices; this will cut down significantly on the time to apply for a mortgage and Lennar hopes it will also help attract millennial buyers. Source
While many are concerned about the future of crypto, Milo has launched a new crypto loan after seeing sustained interest.
Blend is on a mission to expand into more banks and credit unions with their new digital account opening product;...
Beyond Blend more suppliers could be coming soon such as Roostify, BankVOD, LendSnap and Quovo; FinLocker, Plaid and PointServ are also currently running pilots with Fannie Mae; Only Blend, Finicity and FormFree are approved suppliers while there are more than 40 approved vendors; there are 20 approved vendors of income and employment validation reports, but only DataVerify and Equifax are approved suppliers of these reports. Source
Finastra partnered with FormFree to streamline borrowing for mortgage lenders with an automated underwriting process.
Lenders and credit reporting firms are still working through how to handle the current state of the US consumer; lenders...
According to National Mortgage News nine lenders including loanDepot were warned last year that they could be removed from the...