With developments in the mortgage industry
Here are some of the developments coming from industry leaders over the past seven days:
UWM offers no-cost appraisals on its 1-0 buydown product
In a move to entice brokers and help them attract buyers and Realtors, Pontiac, Michigan based United Wholesale Mortgage launched a deal to would cover appraisal costs for conventional and government loans when taken out
Guaranteed Rate tells agents to "lock it, list it"
Aimed at helping Realtors and real estate agents combat high housing payments, Guaranteed Rate's program provides sellers the opportunity to lock in a discounted interest rate and up their property's appeal to prospective buyers. Upon securing a new listing, an agent will work with sellers enrolled in the program to bring down the mortgage rate, which can be used to help the home stand out in marketing and promotion. The program is available for both conforming and higher-balance jumbo mortgages.
"We want to offer real estate agents and their clients the opportunity to lock in a rate that they can market to their potential buyers. In an environment where rates can be volatile, this is a key selling point for a future buyer," said Jeremy Collett, executive vice president, head of capital markets
Loandepot teams up with Exit Realty Network
Irvine, California-based
Meanwhile, outside the buying and selling process, other familiar names also entered into new partnerships affecting cybersecurity and tax processing.
Finance of America works with Spera Security to fight cyber threats
In its attempt to alleviate identity-driven cyber risk,
The home lending industry has been plagued with
Wells Fargo outsources residential tax solutions to Corelogic
The San Francisco banking giant is turning to Corelogic to oversee and manage real estate tax processing operations for servicing clients of Wells Fargo Home Lending. With the decision, the banking unit's real estate tax team will be offboarded and employees offered the opportunity to move into similar roles at Corelogic. The decision to eliminate an internal team is the latest 2023
With the new partnership, Wells Fargo will be able to oversee tax customer service through the Corelogic digital tax portal and simplify the bank's mortgage servicing operations.