Mortgage technology

The all-stock deal follows a boom in demand for interim financing on purchases, which HomeLight had been looking to offer on a larger scale.

Direct-to-consumer may not fare as well going forward if a purchase market prevails, and some cross-pollination between depositories and nonbanks could occur.

Banks and non-banks can identify home sales from both current borrowers and prospective buyers who have previously applied for loans, and can find home equity line of credit candidates.

Delays in closing the deal after it was announced in August resulted in the parties' decision to remain separate, although they will still work together.

Mortgage companies selling loans to the government-sponsored enterprise will be able to use the information for one type of employment check as well as to validate income and assets.

Non-depositories historically haven't been big originators of home equity lines of credit, but fintechs that offer the easily automated countercyclical products are reporting growth.

The white-label solution aims to provide neobanks and those in property sales with an entry into housing finance, while giving existing lenders a way to introduce new products and channels.

New changes do more to pave the way for electronic modifications and will open the government bond insurer’s program up to new applicants.

Companies are working to offer what they say are faster, more integrated digital products that can quickly stand up compliant workflows as forbearance is phased out and loss mitigation activity resumes.

Increased cybersecurity spending puts an extraordinary squeeze on smaller firms that struggle to maintain revenues amid the origination slowdown.

Lending that can fulfill Biden administration aims around equity and supply, like an FHA premium cut or financing for accessory dwelling units, remain possible, but late-cycle housing risk is a concern.

Mid America will retain its focus on technology, third-party originations and secondary market executions for specialty products while helping the acquirer expand the scope of its operations.

But the deal could be derailed by antitrust concerns given the size of both companies in the mortgage technology field.

It’s tempting to add yet another screen or an external piece of software, but that’s not always the quickest path to success, writes a director at InRule Technology.

The move by Self Financial could add momentum to recent efforts in this areas by influential mortgage-market participants like Fannie Mae and Freddie Mac.

The tech firm cited an expected 60 to 70% drop in refinance volume as reason for the layoffs, which affect employees in the company’s title business and general administrative duties.

The Texas-based company aims to increase customer retention, offering borrowers amenities like flexible payment options through a self-serve vendor system.

Zigg Capital led the Series B raise for the West Coast-based digital platform, which was founded by former employees of Freddie Mac and Palantir.