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
Blend is on a mission to expand into more banks and credit unions with their new digital account opening product;...
Lenders and credit reporting firms are still working through how to handle the current state of the US consumer; lenders...
Forbes shares the story of Vishal Garg who took his first startup public at the age of 26; he has...
Quicken Loans is experiencing growth due to the extraordinarily low-interest rate environment that Covid-19 has brought on the US financial...
According to National Mortgage News nine lenders including loanDepot were warned last year that they could be removed from the...
According to researchers from the Federal Reserve and University of California, non-bank mortgage lenders are not prepared to weather a financial downturn and are a risk to taxpayers; According to the paper, “Non-bank failures could be quite costly to the government, but this issue has received very little attention in the housing-reform debate. The funding and operational structure of the non-bank mortgage sector remains a significant channel for systemic liquidity risk.”; non-bank lenders originated half of home loans in 2016. Source
Finastra partnered with FormFree to streamline borrowing for mortgage lenders with an automated underwriting process.
The CEO and co-founder of Divvy Homes talks homeownership, why the existing mortgage model is broken, and how they are creating a completely new path for first-time homeowners.
This week, Isabelle sat down with Josip Rupena, founder and CEO of Milo, to talk about the issues facing the mortgage sector.