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Premier Lending Inc. adopts FICO Score 10 T 

Housing Wire

North Carolina-based mortgage lender Premier Lending Inc. Premier Lending is adopting FICO’s updated credit-scoring model “to continue to drive the company’s innovation strategy forward and help make more homeownership dreams a reality,” the company stated in a release. “By

Lending 384
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Thomas Yoon to steer Lead+ Wholesale Lending

Housing Wire

California-based lender Summit Funding has appointed Thomas Yoon as the head of subsidiary Lead+ Wholesale Lending, the company announced on Wednesday. Simultaneously, Lead+ Wholesale Lending is unveiling a new program designed to educate brokers on non-QM products. Founded in 1995, Summit Funding operates in 48 states.

Lending 379
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Home-equity lending blossomed in 2023

Housing Wire

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising. 16 in the most recent rankings.

Equity 452
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How to manage the complexities of non-QM and private lending

Housing Wire

Gregory Meola, managing director, head of business development & strategy, Acra Lending Rather than formulaic QM lending, non-QM lending can be more complex. HousingWire: What are the unique complexities of non-QM lending as compared to QM loans? This leads to a better overall experience for the customer.

Lending 334
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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.

Lending 430
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Banks report tightened lending standards for nearly all residential mortgages: Fed survey

Housing Wire

Banks reported having tightened lending standards across almost all categories of residential real estate loans over the fourth quarter of 2023 amid an elevated interest rate environment. The survey asks officers about topics such as changes in lending terms as well as household demand for loans. There’s some optimism, however.

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DOJ and CFPB sue Colony Ridge over predatory lending practices

Housing Wire

That’s the first predatory mortgage lending case brought by the DOJ. Discrimination in lending harms families and neighborhoods for generations; it is wrong, and it has no place in our country,” Attorney General Merrick Garland said in a statement. We look forward to telling the true story of Colony Ridge.”

Lending 421