Matt Kingsborough has joined Planet Home Lending as Regional Sales Manager, the company announced in a press release.
Kingsborough brings more than twenty years of industry experience to the position. He will oversee Planet’s expansion in the Western U.S.
Kingsborough said he emphasizes personal and professional development among employees, focusing on work-life balance to encourage growth and success in the lending business.
“I’m here to build on our presence in the West by fostering an environment where mortgage loan originators and branch managers can truly thrive,” he commented.
Prior to Planet, Kingsborough served as National Sales Director for Soar Energy Solutions, a solar provider, where he developed his leadership skills working with high-volume teams.
His past mortgage experience includes Northern…
The Consumer Financial Protection Bureau and the U.S. Department of Justice are suing developer and lender Colony Ridge, alleging it targeted Hispanic borrowers with “bait-and-switch” land sales and predatory loans.
The lawsuit claims Colony Ridge gave borrowers inaccurate information about homesites and coerced them into loans they could not afford, according to the CFPB’s press release.
“Our investigation uncovered that Colony Ridge is baiting borrowers with lies, saddling families with predatory loans for homesites that the company knows have repeatedly flooded with raw sewage and lacked basic utility infrastructure,” said CFPB Director Rohit Chopra.
Colony Ridge allegedly sold families flood-prone land without water, sewer, or electrical infrastructure. They are being charged with violating the Interstate Land Sales Full Disclosure Act. …
Wholesale Non-QM lender Newfi Lending announced EquityChoice, a new type of shared appreciation mortgage.
The product comes in response to record-high equity amassed by Americans since the pandemic housing boom. High rates are keeping that equity stored away, as many homeowners are reluctant to tap into it through traditional financing options.
EquityChoice gives homeowners access to cash with a below-market fixed interest rate, and shares in a portion of their future home appreciation.
Company leaders say homeowners don’t need to factor in additional monthly payments or worry about soaring rates when considering using the equity in their homes.
“Newfi has created a groundbreaking new offering that meets homeowner needs for liquidity by combining the benefits of home equity sharing options…
David Smith has been promoted to Vice President of National VA Lending at loanDepot, company leaders announced.
In this newly created role, Smither will spearhead loanDepot’s VA lending strategy, including outreach to both the military community and industry pros to promote knowledge of VA mortgage products.
He will specifically lead the company’s VA Council, a group of originators who specialize in lending for active military personnel and veterans alike.
Smith has trained more than 28,000 real estate agents and consumers on the benefits of VA home loans.
“As a purpose-driven lender, loanDepot is incredibly proud to make the dream of homeownership a reality for thousands of military families each year,” said LDI Mortgage President Jeff Walsh. “We’ve developed a core…
Newrez announced a new venture mortgage company with Keller William Bergen County Partners.
Headquartered in Ridgewood, NJ, Carnegie Mortgage Partners allows homeowners in New Jersey to access a network of real estate agents offering mortgage product suites from Newrez and Newrez Ventures.
“We are excited to partner with Newrez because their vision, and more importantly, their values fit nicely with our own,” said Al Donohue, Operating Principal of Keller Williams Bergen County Partners. “We feel that bringing mortgage operations in-house will allow us to provide a one-stop-shop that will provide an enhanced experience for our agents and their clients.”
The company specializes in residential purchase mortgage lending and will focus on borrowers in New Jersey. Newrez noted that the partnership…
Fintech NewDay USA has been named a finalist for the U.S. Chamber of Commerce Foundation’s 2023 Citizens Awards, honoring businesses devoted to positively impacting lives across the globe.
NewDay, a VA mortgage lender, was nominated in the Best Corporate Steward: Small and Middle Market Business category for its commitment to veterans and their families in the homebuying process.
The company helps veterans navigate their VA home loan benefits in order to make informed financial decisions as they search for a home.
At the same time, its nonprofit arm, the NewDay USA Foundation, provides educational scholarships to children of vets across the country. They also support organizations such as the Medal of Honor Foundation, Global War on Terrorism Memorial Foundation, the…
Industry stalwart Jim Anderson is joining Colorado-based Loan Simple as its new chief marketing officer.
“We’re excited to announce that Jim Anderson has joined the Loan Simple family as Chief Marketing Officer. With over 20 years of experience at Finance of America, Stearns Lending, Certainty Home Loans, CNN, Accenture, and The Weather Channel, he brings innovative, business-building, marketing strategies to Loan Simple,” the company posted on LinkedIn.
In his new role, Anderson will steer Loan Simple’s growing brand, overseeing all aspects of its marketing and demand generation efforts.
Anderson brings more than two decades of industry experience to the company. Prior to Loan Simple, Anderson served as CMO of Finance of America Mortgage. His other experience includes CMO at Stearns…
Mortgage tech company ReadyPrice launched an independent universal delivery portal, the company announced in a press release.
Independent mortgage brokers can source loans from multiple lenders, lock them in, and deliver them to borrowers on a single platform.
“Independent mortgage brokers are the core of our industry, and they’re needed now more than ever. They help thousands of borrowers navigate an increasingly complex economic environment,” said ReadyPrice Founder and CEO, Rick Soukoulis.
“Our universal delivery portal gives brokers what they need most—more time to focus on their borrowers, and more confidence that they’re delivering the best deals possible.”
The platform is powered by DataX, a proprietary data exchange system linked to the industry’s largest LOS. It can deliver loans for…
New American Funding and The Agency are partnering to meet the needs of The Agency’s clients, with NAF becoming the preferred mortgage lender of The Agency.
NAF, which marks its 20th anniversary in 2023, holds the distinction of being the largest Hispanic-owned mortgage lender in the U.S. Meanwhile, The Agency has earned global recognition as a rapidly growing luxury boutique brokerage.
“We are thrilled to be working closely with one of the most prestigious companies in real estate today,” NAF Co-Founder and CEO Patty Arvielo said.
“As one of the nation’s largest privately-owned mortgage companies, NAF is uniquely positioned to cater to the needs of The Agency’s clients nationwide. We look forward to evolving our partnership into an even stronger…
Simon Chen has been named the new president and CEO of equity-minded buy-first lender Arrival Home Loans.
“So thrilled to be joining such a great group of people at Arrival Home Loans and Pacific Private Money Inc. to make private money real estate borrowing and investments available to ALL!” he wrote in a LinkedIn Post.
Chen brings more than two decades of experience in real estate, operations, and venture capital to the position. Before AHL he served as a Managing Partner at August Gill, an advisory firm for startups and capital providers. He will stay on there as an advisor.
His other experience includes EVP of Product and Innovation at Anywhere Real Estate, and president and CEO of one of…
