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Redwood adds alternative loan products to its home equity platform

Housing Wire

Real estate investment trust Redwood has expanded its home equity platform, Aspire, to include alternative loan products amid affordability challenges in the housing market, the company announced Tuesday. Through Aspire, launched in September 2023, Redwood directly originates home equity investments (HEIs).

Equity 408
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Fairway’s Steve Jacobson is ’focused on speed’ as he builds company culture

Housing Wire

To open the conversation, Sanchez asks Jacobson to explain how Fairway harnesses the power of positive recommendations to boost production for the company’s loan officers. Jacobson explains that Fairway prioritizes employee free speech and inclusivity that competing brands may not have. The people that work will grow.”

As-is 416
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Rocket’s Varun Krishna thinks Redfin deal can expand opportunities for broker network

Housing Wire

” Shared brand values Rocket’s year to date has been marked by a series of changes in the company’s outreach and branding. “We think we can create a stronger overall brand by really optimizing the interaction between these brands.”

Branding 396
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Mutual of Omaha’s reverse division launches broker protection program

Housing Wire

The company will alert broker partners to potential refinance business and notify them if “a payoff is ordered on one of their loans within the broker network.” We know that brokers who leverage our brand win more loans,” Pistone said. It will also exclude broker-network borrowers from the company’s outbound marketing campaigns.

Principal 421
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How Pennymac is navigating the double-edged sword of lower rates

Housing Wire

It can improve loan production and acquisitions but hurt their servicing portfolios. In total, loan acquisitions and originations had an unpaid principal balance (UPB) of $31.7 The company’s refinance recapture rate is 52% for government loans and 34% for conventional loans. “We million from July to September.

Principal 408
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Pennymac the latest lender to raise conforming loan limits

Housing Wire

Pennymac followed the tracks of Rocket Pro TPO and United Wholesale Mortgage in raising conforming loan limits ahead of the Federal Housing Finance Agency ‘s (FHFA) decision to do so in November. Official 2023 conforming loan limit changes will be determined by the FHFA announcement, she added.

Loans 410
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Fairway makes a deal to acquire Hallmark Home Mortgage

Housing Wire

It will operate under the “Powered by Fairway” brand and will be led by Hallmark founder and CEO Deborah Sturges. Hallmark had 45 sponsored loan officers and 19 active branches as of Wednesday, per Nationwide Multistate Licensing System (NMLS) data. of its loans being purchase transactions. Fairway originated $4.6

Mortgages 315