HomeView Lending Inc., Orange County, Calif., has announced the launch of its operations in major California markets to bring what it calls "a new kind of mortgage company" to serve the nonprime, alternative-A, and option ARM markets.HomeView said its aim is to help mortgage originators get more deals done quickly and efficiently. The company said it plans to expand across the country in the coming months. "Brokers and homeowners are looking for fast, no-hassle ways to close nonprime and alt-A loans," said Kal Elsayed, HomeView's president and chief executive officer. Mr. Elsayed was previously president of the Wholesale Division of New Century Mortgage Corp.
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This data release means another milestone for the use of updated credit score models than the current FICO Classic has been met by Fannie Mae and Freddie Mac.
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The real estate and fintech company completed the purchase of 100% of Mortgage One Group, marking a major step in its push into AI financing.
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The rise in completed modifications occurred as many other loan performance indicators plateaued, and may reflect the temporary impact of recent rule changes.
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The Department of Housing and Urban Development got 67 responses to its request for information regarding the FHA program's Minimum Property Requirements.
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Mortgage applications rose 0.4% on a seasonally adjusted basis from one week prior for the period ending June 26, according to the MBA's Market Composite Index.
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Homeowners accuse the home equity investment company of breaking the law for suggesting that its home equity investment product isn't a mortgage.
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