By ERIN FLYNN JAY Homeownership rates for Black Americans are lagging and leaders in some cities are taking action to turn that around. According to a report released by the National Association of Realtors last month, minority groups saw increased homeownership rates in 2022. While Asian and Hispanic homeownership rates registered all-time highs at 63.3%…
CrossCountry Mortgage has adopted FICO Score 10 T for non-QM loans and securities. The goal of using FICO 10 T is to expand the number of people eligible for mortgages based on their credit scores. FICO says its new model can increase mortgage approval rates by up to 5% without additional risk, as well as reduce delinquencies…
CrossCountry Mortgage launched a new cost-saving program for first-time homebuyers. The Freddie Mac BorrowSmart Access program provides borrowers in specific metros with up to $3,000 that can be put towards a down payment or closing costs. “In today’s competitive market, first-time homebuyers face many obstacles including trying to save for a down payment,” said Jenn…
By KIMBERLEY HAAS Leaders at loanDepot are saying they are pleased with a federal judge’s decision to grant a preliminary injunction against six former employees and CrossCountry Mortgage. The employees are currently employed by CrossCountry and are accused of taking sensitive customer information from loanDepot to their new employer. On Tuesday, U.S. District Court Judge…
CrossCountry Mortgage is investing in the future of Hispanic homeownership through a new Spanish mortgage application and a focused Hispanic website. Leaders at the company announced their intentions on Tuesday. CCM is one of America’s largest retail mortgage lenders and has been included nine times on the Inc. 5000 list of America’s fastest-growing private businesses. …
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