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…
Deephaven Mortgage has hired Aaron Drago as its new Chief Operating Officer, the company announced in a press release. “It’s an absolute honor to join such an esteemed organization focused on innovation and growth,” Drago said in a LinkedIn post. “Deephaven already differentiates itself through its agility and highly responsive service. In nautical terms, we’re…
Dustin Wells has been named Co-President of Stronghill Capital as it expands into residential lending, the company announced in a press release. Wells, an industry veteran with more than two decades of experience, will head a new executive team focused on expanding Stronghill’s business from commercial into the non-QM, non-agency jumbo, and investor residential spaces….
The Mortgage Calculator has entered the originations game and is now offering loans through a new entity, Mortgage Calculator Company LLC, the company announced. The company first went solo back in September, when it left its parent company and became a standalone correspondent lender with 200 loan officers. “We put in a lot of work…
Loosening lending standards are making it easier than ever for gig workers to finance homes. These workers often make enough money to qualify for a loan, but often have a difficult time proving that to lenders. “It is a phenomenon with this gig economy where people can drop in and have an Amazon play, and…
Non-QM lender Arc Home LLC has appointed Suzy Lindblom as Chief Operating Officer, the company announced in a press release. “Arc Home is well-positioned for steady growth through innovative proprietary products and technology, and I’m thrilled to have been chosen to be the Chief Operating Officer. My goal is to create a seamless customer-focused experience…
Non-QM lender Angel Oak Home Loans has opened five new branches in three states, the company announced. South Carolina now has three additional branches, one in Charleston, led by Ed Powell, SVP of Angel Oak Home Loans’ Consumer Direct Division; one in Columbia, led by Drew Church; and one in Cheraw, also headed by Church….
Lisa Heitzmann has been appointed Chief Operating Officer at non-QM lender Deephaven Mortgage, the company announced in a press release. “I am excited to align Deephaven’s operations to support our positive, pro-borrower culture—where everyone is always looking to say yes. It’s a pleasure to build on this approach, while making it easier for our people…
Angel Oak Mortgage Solutions is focusing on streamlining the process of closing non-qualifying mortgage (non-QM) loans so that it more closely resembles closing an agency loan. “It’s a priority for us,” Angel Oak executive vice president of production Tom Hutchens told the MPA. Angel Oak is reportedly investing in technologies to automate more of the non-QM…
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