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Cornerstone Capital Bank launches community lending division

Housing Wire

Cornerstone Capital Bank , a national mortgage originator and servicer, is launching a community lending division to serve underserved communities, the company announced this week. ” The Community Lending Division will offer mortgage programs and products tailored to benefit underserved borrowers.

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One mortgage lender abandons the Florida condo market

Housing Wire

California-based Provident Funding Associates LLC is getting out of the Florida condo lending business , it told broker partners on Friday. Condos in Florida have to be next level,” said one retail lending executive. ” Some agents believe the condo market choppiness in Florida isn’t all bad news.

Mortgages 524
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Guaranteed Rate to acquire Stearns Lending

Housing Wire

Stearns has exclusive partnerships with real estate agent, builder and corporate relocation joint ventures, as well as a book of business with SoFi and Home Mortgage Alliance. The post Guaranteed Rate to acquire Stearns Lending appeared first on HousingWire. This is a breaking news story. Check back for more updates.

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Chase Home Lending increases its closing guarantee

Housing Wire

Chase Home Lending , the consumer and commercial banking arm of JPMorgan Chase & Co. , In just the past year, the Department of Justice has called for a full dislocation of real estate agent commissions between sellers and buyers, and new appraisal bias protections have been set up.

Lending 481
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Michael Saleh leaves Rocket to launch brokerage firm Zoom Home Lending

Housing Wire

Michael Saleh, a former senior vice president of Rocket Mortgage who spent about two decades at the company, has transitioned from the retail lending channel to wholesale by launching independent brokerage firm Zoom Home Lending. Saleh said he was leading between 250 and 300 people when he left Rocket in mid-May.

Lending 459
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Floify launches lending platform for mortgage brokers

Housing Wire

Digital mortgage automation solution provider Floify launched a lending platform for mortgage brokers built on the foundation of the Floify point-of-sale (POS) platform. The Colorado-headquartered firm was acquired by publicly traded proptech company Porch Group, Inc. in an $87 million deal in 2021.

Lending 468
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Ex-Zillow execs promise revolution in lending

Housing Wire

Seventy million dollars in seed funding is a colossal investment for an unproven tech startup, even one that promises to fully disrupt a relatively low-margin, traditional industry like mortgage lending. The startup says it has also partnered with top local real estate agents who know their way around the markets they serve.

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