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…
Wilmington, NC-based MC Mortgage Group is joining mortgage platform UMortgage, the company announced.
MC Mortgage serves homebuyers in North and South Carolina. The company was named MPA Top Employer and Lender and Wilmington Cape Fear Home Builder’s Association’s Lender of the Year in 2021.
The company was founded in 2005 by President Patrick Stoy, a seasoned mortgage veteran with nearly 25 years of experience as a broker. He was named a UWM Top 1% Broker and a Top-100 Purchase LO with UWM in 2022. In 2021 he was named Mortgage Professional of the Year by the North Carolina Home Builders Association.
“Being that I’ve been a true independent mortgage broker since 2005, this platform will allow me the opportunity to…
United Wholesale Mortgage is offering a 1% down payment product in a bid to bring in more borrowers.
The Conventional 1% Down allows buyers to pay 1% towards their new home. UWM will then pay an additional 2%, up to $4,000, for a combined 3% down payment.
“We are bringing back the Conventional 1% Down to give independent mortgage brokers a competitive edge with borrowers and real estate agents, while also helping make homeownership more affordable and accessible for borrowers across the country,” said Mat Ishbia, president and CEO of UWM.
“We’re going to continue developing products and solutions that will help get more borrowers into homes faster, easier, and cheaper, and Conventional 1% Down is a great example of…
Digital financial services company SoFi Technologies has acquired Wyndham Capital Mortgage, the company announced in a press release.
SoFi is a financial services company that offers a lending arm, as well as a financial technology stack.
SoFi’s acquisition includes both talent and technology, allowing the company to expand the mortgage products available to its members. By integrating Wyndham’s scalable digital mortgage platform, the company is taking on a “full stack” approach that allows it to rely less on third-party partners and processes, according to company leaders.
“At SoFi, we’re on a mission to help people get their money right, and purchasing a home is often one of, if not the, biggest financial decisions individuals make in their lives,” said Anthony…
Daily AI, a customer relationship management company, is rebranding as Aidium Mortgage CRM.
Company leaders say months of research and analysis revealed the name suited the company’s vision and goals while reflecting its focus on innovation and customer service.
“We’ve been in the mortgage CRM space for many years, and this rebranding effort represents a strategic move to better align all our brands under one company with our mission to help mortgage companies succeed,” said Spencer Dusebout, CEO of Aidium.
“We’ve always been dedicated to providing the best solutions and customer service in the industry, and our new brand reflects that commitment.”
The rebrand includes updates to the company’s core product, website, marketing materials, and other communications. Aidium says the…
Non-conforming loans pushed rate lock dollar volumes up in February as homebuyers struggle to handle high rates.
While conforming, FHA, and VA loans all lost some share of the market last month, non-conforming loans increased across the spectrum, snagging 12.2% of the market, Black Knight reported in its latest Originations Market Monitor report.
Jumbo loans saw a boost last month as high interest rates made GSE products less attractive. Dollar volume flew up as a result, though locks fell.
The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances was 6.49% last week, while the conforming rate was 6.79%. Conforming rates finished the month 52 basis points above January’s levels.
Adjustable rate mortgages saw gains, accounting for…
Pat Bolan has joined New American Funding as its new chief production officer, the company announced in a press release.
As CPO, Bolan will work to grow the lender’s retail sales, grow its sales team and synergize the retail sales division with the other departments.
Bolan brings more than thirty years of leadership and origination experience to NAF. Prior to this, he worked as a divisional manager with Guaranteed Rate, where a developed a sales team from scratch.
He has also held leadership positions at Prospect Mortgage, Capital One, and American General Finance.
“I’m happy to share that I’m starting a new position as Chief Production Officer at New American Funding! It was a difficult decision leaving an amazing company…
Veterans in Texas are being offered extended homebuying benefits from Competitive Home Lending, the company announced.
Buyers applying for a VA loan through CHL can qualify for a wholesale VA mortgage rate.
Wholesale rates are typically between 25 and 50 basis points lower than retail rates. This gives veterans the opportunity to buy a more expensive home without increasing their purchase price.
CHL has lowered its credit score requirements for veterans to as low as 500, offering 100% financing.
“Competitive Home Lending recognizes the sacrifice and service of our Veterans and wants to do everything possible to make homeownership more accessible for them,” said Raul Hernandez, Mortgage Broker of Competitive Home Lending.
CHL is also offering VA one-time close construction…
