Lending

Lending
News and information related to retail lending, wholesale and correspondent, and mortgage origination. General economic trends get worked in here, too; GDP, jobs, apps, rates.

ARTICLES

  • AI company Lower launches to help loan originators – not replace them

    Company uses AI to aid homebuyers to make clearer mortgage decisions
    A new company, Lower, announced it has launched operations and is seeking to leverage artificial intelligence to help homebuyers make "smarter mortgage decisions" by improving the online mortgage process to assure homebuyers that the mortgage they are getting is the best one possible.
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  • Who watches the Watchmen? Former senior FDIC employee found guilty of stealing confidential bank documents

    Stole banks’ living will documents while applying for jobs at those same banks
    The Federal Deposit Insurance Corp. is one of the nation’s top banking regulators, but one of the agency’s former senior employees faces 20 years in jail for stealing confidential documents from the world’s largest banks while trying to get a job at those very same banks.
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  • HECM margins remain stable at 1.98%

    Reverse mortgage lenders find balance after a tough year
    Margins on adjustable-rate reverse mortgage loans averaged 1.98% in October, according to HECM analytics provider Baseline Reverse. "We continue to see stabilization around the 2% margin as the market appears to have found its competitive footing," said Baseline President Dan Ribler.
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  • Mr. Cooper hires restructuring expert as new CFO

    Brings on Capital Bank Financial Co-founder Christopher Marshall
    Mr. Cooper has hired Christopher Marshall to take over as chief financial officer. Marshall is the co-founder and former CFO of Capital Bank Financial, and he previously worked as chief restructuring officer and senior advisor to the CEO at GMAC.
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  • Finance of America Mortgage settles FHA mortgage fraud lawsuit for $14.5 million

    Admits Gateway Funding Diversified Mortgage Services approved ineligible loans for FHA insurance
    Finance of America Mortgage has agreed to pay the U.S. government $14.5 million to settle a whistleblower lawsuit involving mortgage fraud. The payment settles the claim that Gateway Funding Diversified Mortgage Services, which FAM owns, knowingly originated and underwrote deficient mortgage loans insured by the FHA in violation of the False Claims Act.
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  • Freddie Mac: Mortgage rates reach three-month low

    Expert says low unemployment and declining rates should support home sales
    Mortgage rates have now reached a three-month-low, according to the latest Freddie Mac Primary Mortgage Market Survey. Freddie Mac Chief Economist Sam Khater said the 30-year fixed fell to 4.63% this week – the lowest it has been since mid-September.
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  • Fintech company Plaid raises $250 million, valued at $2.65 billion

    New investors include Mary Meeker and Andreessen Horowitz
    There’s a new unicorn in the fintech space, as Plaid announced this week that it raised $250 million in its Series C funding round at a reported valuation of $2.65 billion. Plaid, a technology platform that connects various applications with users’ bank accounts, has a growing presence in the mortgage space. And now, the company plans to grow exponentially thanks to a massive new capital injection.
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Paulina Gonzalez

Paulina Gonzalez

Paulina Gonzalez is the executive director of the California Reinvestment Coalition, which advocates for the right of low-income communities and communities of color to have fair and equal access to banking and other financial services. CRC has a membership of over 300 nonprofit organizations and public agencies across the State. Follow her on Twitter @calreinvest
Joe Markham

Joe Markham

Joe Markham is the founder and CEO of Block66, a blockchain-powered platform that increases transparency, streamlines capital deployment and overcomes geographical lending restrictions in the mortgage industry
Travis Kniffen

Travis Kniffen

Travis Kniffen is the director of business development, partnerships at Roostify.