Mortgage broker

Westboro Mortgage Investment Fund Increases its Compounded Annualized Monthly Distribution to Investors to 9.38% and Eclipses $400,000,000 in Assets Under Administration

Retrieved on:

Tuesday, October 3, 2023

Local football championships of Greece, DRIP, Growth, Fund, Mortgage broker, Environment, Broker, Real estate

OTTAWA, Ontario, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Effective September 1, 2023, the Westboro Mortgage Investment Fund (“the Fund”) has increased the monthly distribution per eligible Class F unit from $0.073/Unit (73 bps) to $0.075/Unit (75 bps).

Key Points:

OTTAWA, Ontario, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Effective September 1, 2023, the Westboro Mortgage Investment Fund (“the Fund”) has increased the monthly distribution per eligible Class F unit from $0.073/Unit (73 bps) to $0.075/Unit (75 bps).
If the investor chooses to participate in the distribution reinvestment plan (DRIP), it would result in a compounded annualized return of 9.38%.
In other words, highly qualified borrowers are no longer able to meet the stress test requirements set by the typical bank mortgage lenders.” said Nick Christopoulos, CEO of Westboro Mortgage Investment Fund.
Additionally, for the first time in the firm’s 19-year history, the Westboro Mortgage Investment Corporation and the Fund have surpassed the $400 million milestone of mortgage assets under administration.

Liberty Reverse Mortgage Wins National Association Of Mortgage Brokers 2023 Affiliate Of The Year Award

Retrieved on:

Monday, September 25, 2023

PALM, PHH, OCN, Partnership, Mortgage broker, Liberty, Retirement, Ocwen, Knowledge, National Association, NYSE, Real estate

WEST PALM BEACH, Fla., Sept. 25, 2023 (GLOBE NEWSWIRE) -- Liberty Reverse Mortgage (“Liberty” or the “Company”), one of the nation’s largest and most experienced reverse mortgage lenders and the only large-scale, end-to-end reverse mortgage provider, today announced that the National Association of Mortgage Brokers (“NAMB”) named Liberty as a 2023 Affiliate Company of the Year.

Key Points:

WEST PALM BEACH, Fla., Sept. 25, 2023 (GLOBE NEWSWIRE) -- Liberty Reverse Mortgage (“Liberty” or the “Company”), one of the nation’s largest and most experienced reverse mortgage lenders and the only large-scale, end-to-end reverse mortgage provider, today announced that the National Association of Mortgage Brokers (“NAMB”) named Liberty as a 2023 Affiliate Company of the Year.
Liberty is part of PHH Mortgage Corporation , a subsidiary of Ocwen Financial Corporation (NYSE: OCN) and a leading non-bank mortgage servicer and originator.
Liberty was recognized for excellence as NAMB’s reverse mortgage education provider delivering the Certified Reverse Mortgage Specialist (“CREV”) certification program and supporting the reverse mortgage needs of NAMB members.
Earlier this year, Liberty and NAMB formed a partnership to build mortgage professionals’ proficiency in reverse mortgages through the newly launched CREV program.

Nations Lending Opens a Branch in Columbus, OH, and Michael Farrell Senior Divisional of Affiliated Partnerships is the Branch Manager

Retrieved on:

Wednesday, September 20, 2023

The company has hired Michael Farrell as Senior Divisional of Affiliated Partnerships.

Key Points:

The company has hired Michael Farrell as Senior Divisional of Affiliated Partnerships.
View the full release here: https://www.businesswire.com/news/home/20230920511688/en/
With over 30 years of experience in mortgage lending, Michael brings a wealth of expertise to his role.
When asked about his decision to join Nations Lending, Farrell responded, "Nations’ ownership has a great balance of forward thinking and grounded business sense.
With a commitment to excellence and personalized solutions, Nations Lending continues to expand its presence across the country.

The National Association of Mortgage Brokers Supports the Federal Housing Finance Agency's Decision to Postpone the Implementation of the Planned Transition to A Bi-Merge Model

Retrieved on:

Thursday, September 14, 2023

Education, Fannie Mae, FHFA, Mortgage broker, Human, California v. Federal Housing Finance Agency, Freddie Mac, Federal Housing Finance Agency, National Association, Social media, Real estate

WASHINGTON, Sept. 14, 2023 /PRNewswire-PRWeb/ -- The National Association of Mortgage Brokers (NAMB) applauds the Federal Housing Finance Agency's (FHFA) recent decision to postpone the implementation of the planned transition to a bi-merge model. The FHFA will allow time for additional public engagement to facilitate the transition to the proposed credit score models and credit report requirements for loans acquired by Fannie Mae and Freddie Mac.

Key Points:

"We appreciate the FHFA's decision to allow for more engagement on the bi-merge transition.
The National Association of Mortgage Brokers has been the voice of the mortgage industry representing the interests of mortgage professionals and homebuyers since 1973.
NAMB provides mortgage professionals with advocacy, education, and rigorous certification programs to recognize members with the highest levels of professional knowledge and education.
NAMB's active lobbying and advocacy efforts focus on national and state issues, protecting the interests of its members and borrowers.

Lender Price Secures Several Coveted Awards, Cementing Its Leadership in Mortgage Technology

Retrieved on:

Monday, September 11, 2023

Legend, Mortgage broker, Service, PPE, IMB Bank, Machine learning, Algorithm, AI, National Association, Real estate

PASADENA, Calif., Sept. 11, 2023 /PRNewswire-PRWeb/ -- Lender Price, a leading provider of mortgage pricing technology, has been recognized for several awards this year, reinforcing its position as a pioneering force in financial technology and innovation. For the second consecutive year, Lender Price has been honored with the prestigious NAMB Technology and Service Provider Award. Furthermore, the company has earned the HousingWire Tech100 Award for an astounding seven years running. To add to the list of accomplishments, Lender Price's CEO, Dawar Alimi, has been recognized as an INMAN Finance Leader for 2023 and Legend of Lending by Mortgage Banker Magazine.

Key Points:

For the second consecutive year, Lender Price has been honored with the prestigious NAMB Technology and Service Provider Award.
PASADENA, Calif., Sept. 11, 2023 /PRNewswire-PRWeb/ -- Lender Price, a leading provider of mortgage pricing technology, has been recognized for several awards this year, reinforcing its position as a pioneering force in financial technology and innovation.
For the second consecutive year, Lender Price has been honored with the prestigious NAMB Technology and Service Provider Award.
With a robust suite of products, including their best-in-class PPE (Product, Pricing & Eligibility engine), Lender Price continues to be at the forefront of mortgage technology.

The National Association of Mortgage Brokers Welcomes Industry Professionals to NAMB National 2023

Retrieved on:

Friday, September 8, 2023

Inauguration, Education, Mortgage broker, Corporate communication, Human, Social media, Certification, Caesars Palace, Freddie Mac, United Kingdom, National Association, SVP, Memory, Real estate

WASHINGTON, Sept. 8, 2023 /PRNewswire-PRWeb/ -- The National Association of Mortgage Brokers (NAMB), the voice of the mortgage industry representing the interests of mortgage professionals and home buyers since 1973, is delighted to welcome members of the mortgage marketplace to NAMB National which marks the organization's 50th anniversary.

Key Points:

WASHINGTON, Sept. 8, 2023 /PRNewswire-PRWeb/ -- The National Association of Mortgage Brokers ( NAMB ), the voice of the mortgage industry representing the interests of mortgage professionals and home buyers since 1973, is delighted to welcome members of the mortgage marketplace to NAMB National which marks the organization's 50 th anniversary .
In addition, NAMB is honored to host the International Mortgage Brokers Federation ( IMBF ) for the Inaugural World Summit .
"We are honored to conduct NAMB National while hosting thousands of attendees, members of the international mortgage community, our valued partners and national thought leaders.
The National Association of Mortgage Brokers has been the voice of the mortgage industry representing the interests of mortgage professionals and homebuyers since 1973.

The National Association of Mortgage Brokers Names wemlo® a Service Partner of the Year in 2023 NAMB Recognition Awards

Retrieved on:

Thursday, August 31, 2023

DSCR, Jumbo, Communication, Construction, Mortgage broker, BOCA, CTC, Acquisition, USDA, FHA, Public Service Recognition Award, Convention (norm), LOS, National Association, Bank, ITIN, Automation, Nordic Service Partners, Real estate

BOCA RATON, Fla., Aug. 31, 2023 /PRNewswire/ -- wemlo®, the first third-party mortgage processing solution with an all-in-one digital platform, today announces it has once again been named a Service Partner of the Year for processing by the National Association of Mortgage Brokers (NAMB) in its 2023 Recognition Awards program.

Key Points:

BOCA RATON, Fla., Aug. 31, 2023 /PRNewswire/ -- wemlo ®, the first third-party mortgage processing solution with an all-in-one digital platform, today announces it has once again been named a Service Partner of the Year for processing by the National Association of Mortgage Brokers (NAMB) in its 2023 Recognition Awards program.
Loan processing powerhouse wemlo is changing the game for mortgage brokers by combining highly qualified, customer-centric processing talent with easy-to-use technology.
"Our mission at wemlo is to combine unparalleled service with industry-leading offerings to help our customers get effective results, fast.
To learn more about how wemlo can help mortgage brokerages and loan originators work more efficiently, book a 15-minute demo with a wemlo representative today.

The National Association of Mortgage Brokers Celebrates 50th Anniversary

Retrieved on:

Wednesday, August 23, 2023

Inauguration, Education, Mortgage broker, Human, United Kingdom, Growth, National Association, Real estate, Renewable energy

WASHINGTON, Aug. 23, 2023 /PRNewswire-PRWeb/ -- Today, the National Association of Mortgage Brokers (NAMB), the voice of the mortgage industry representing the interests of mortgage brokers and home buyers since 1973, celebrates its 50th anniversary.

Key Points:

WASHINGTON, Aug. 23, 2023 /PRNewswire-PRWeb/ -- Today, the National Association of Mortgage Brokers ( NAMB ), the voice of the mortgage industry representing the interests of mortgage brokers and home buyers since 1973, celebrates its 50th anniversary.
In addition, NAMB's active lobbying and advocacy efforts focus on national and state issues, protecting the interests of all Americans.
NAMB will host several formal events in recognition of its 50th anniversary during NAMB National 2023 September 8-11th in Las Vegas, Nevada.
In addition, during NAMB National, the organization will host the International Mortgage Brokers Federation (IMBF) for the Inaugural World Summit .

wemlo® Expands Third-Party Mortgage Loan Processing Services with Addition of New Loan Products and Lender Partners

Retrieved on:

Wednesday, August 2, 2023

Communication, Federal Housing Administration, Catalog, Mortgage broker, USDA, Social Security, FHA, Social, National Association, ITIN, Automation, Real estate

BOCA RATON, Fla., Aug. 2, 2023 /PRNewswire/ -- wemlo®, the first third-party mortgage processing solution with an all-in-one digital platform, today announces it has expanded its list of participating lenders and added support for new loan products to provide mortgage brokers a seamless processing experience and empower them to better serve the needs of their borrowers.

Key Points:

Now, wemlo has expanded its catalog of participating lenders with the addition of Acra Lending, First National Bank of America and LoanStream Wholesale Mortgage.
The company is consistently adding processing services for new loan products, especially those that help make homeownership more accessible to diverse groups of borrowers.
Built with speed, efficiency, and security in mind, wemlo's award-winning loan processing technology seamlessly manages demand, allows for automation, and streamlines communication.
To learn more about how wemlo can help mortgage brokerages and loan originators work more efficiently, book a 15-minute demo with a wemlo representative today.

Merchants Bancorp Reports Second Quarter 2023 Results

Retrieved on:

Thursday, July 27, 2023

Second quarter 2023 net income of $65.3 million increased 21% compared to second quarter of 2022 and increased 19% compared to the first quarter 2023.

Key Points:

Second quarter 2023 net income of $65.3 million increased 21% compared to second quarter of 2022 and increased 19% compared to the first quarter 2023.
Second quarter 2023 diluted earnings per common share of $1.31 increased 18% compared to the second quarter of 2022 and increased 22% compared to the first quarter of 2023.
Efficiency ratio was 32.7% in the second quarter of 2023 compared to 29.6% in the second quarter of 2022 and 30.3% in the first quarter of 2023.
CARMEL, Ind., July 27, 2023 /PRNewswire/ -- Merchants Bancorp (the "Company" or "Merchants") (Nasdaq: MBIN), parent company of Merchants Bank of Indiana, today reported second quarter 2023 net income of $65.3 million, or diluted earnings per common share of $1.31.