For the first time ever we had the CEO of Quicken Loans, Jay Farner, on stage at LendIt Fintech USA...
LendingHome will now offer an online mortgage product for consumers; LendingHome was launched in 2014 and has been funding short-term bridge and rental loans for property investors; the platform has funded over $1 billion in loans; features of the product include: an automated process, real time rates, loan guidance and real estate agent connectivity. Source
Total loans at banks fell by 1.5 percent during the first half of June, according to data compiled by the...
It was not that long ago when non-bank mortgage lenders were lobbying for a much needed bailout due to the...
Better Mortgage is now offering mortgage loans in thirteen states with the expansion to Florida; the lender offers a number of advantages for borrowers including a 100% digital experience and a verified pre-approval letter for qualified borrowers within 24 hours; with the licensing in Florida, Better Mortgage gains access to lending in Tampa and Jacksonville, recently reported as two of the healthiest housing markets in the country. Source
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[Editor’s note: This is a guest post from Nima Ghamsari, Chief Executive Officer and Co-Founder of Blend, a Silicon Valley...
LendingHome has reported over $1 billion in mortgage loan originations since it launched two and a half years ago; company is the leading marketplace lending mortgage loan originator in real estate; factors influencing the rapid growth include expansion to jumbo loans and a new investor platform for individuals; active in securitization, it has partnered with Nomura Securities International and developed the industry's first master trust securitization vehicle providing it with ongoing access to the securitization market. Source
Blend has signed new bank partnership agreements and announced fundraising of $100 million; the firm will partner with Wells Fargo and US Bancorp, providing its mortgage software to help improve the mortgage application process for the two large banks; concurrently, it has also completed a $100 million fundraising round led by Greylock Partners that will increase its value to approximately $500 million and allow it to potentially expand to other lending markets. Source
UK base challenger bank OakNorth launched a new mortgage product aimed at individuals who do not have typical sources of...
Online mortgage lending has helped to revive the market for mortgage loan securitizations; new online mortgage lenders are providing a new wave of mortgage loan securitizations for the market specifically with fix and flips; these loans are attractive to investors because of the high yields and offer investors shorter duration investments because of the fix and flip focus; despite defaults and structuring inefficiencies created from the 2008 financial crisis, institutional investors are placing confidence in these investments; LendingHome has been leading the market with steady issuance of fix and flip loan securitizations and the products have been performing successfully for investors indicating the niche investments could begin to scale more broadly. Source