Loans

Senior Housing Wealth Exceeds Record $9.2Trillion

Retrieved on: 
Thursday, July 22, 2021
Loans, Mortgage, Old age, Reverse mortgage, Money, Mortgage loan, Finance, Economy

WASHINGTON, July 22, 2021 /PRNewswire/ -- Homeowners 62 and older saw their housing wealth grow by 3.4 percent or $305 billion in the first quarter to a record $9.23 trillion from Q4 2020, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.

Key Points: 
  • WASHINGTON, July 22, 2021 /PRNewswire/ -- Homeowners 62 and older saw their housing wealth grow by 3.4 percent or $305 billion in the first quarter to a record $9.23 trillion from Q4 2020, according to the latest quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.
  • The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) rose in Q1 2021 to 322.89, another all-time high since the index was first published in 2000.
  • The increase in older homeowners' wealth was mainly driven by an estimated three percent or $329 billion increase in home values, offset by a 1.2 percent or $23.9 billion increase in senior-held mortgage debt.
  • To date, more than 1.21 million households have utilized an FHA-insured reverse mortgage to help meet their financial needs.

Tavant Launches Disruptive New Platform - Touchless Lending™

Retrieved on: 
Thursday, July 22, 2021
Professional services, Data management, Technology, Residential Building & Real Estate, Software, Finance, Construction & Property, Loans, Mortgage loan

Tavant , Silicon Valleys leading digital lending solutions provider, today announced the availability of its new Touchless Lending platform.

Key Points: 
  • Tavant , Silicon Valleys leading digital lending solutions provider, today announced the availability of its new Touchless Lending platform.
  • By reducing lengthy origination cycles and removing unnecessary touchpoints, Touchless Lendingenables lenders to originate more mortgage loans faster, while also reducing costs.
  • Touchless Lending delivers exactly what borrowers need, and more by enabling faster e-closing and open communication channels across touchpoints.
  • The Touchless Lending platform integrates effortlessly with existing core systems, including the LOS, and efficiently automates mortgage production.

Greystone Provides $37.5 Million Fannie Mae Loan for Multifamily Property in Idaho

Retrieved on: 
Thursday, July 22, 2021
Mortgage, Finance, Money, Loans, Personal finance, Fannie Mae, Loan servicing, Refinancing, Economy

NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $37.5 million Fannie Mae Delegated Underwriting and Servicing (DUS) Green Building Certification loan to refinance a newly-constructed 481-unit multifamily property in Rexburg, Idaho.

Key Points: 
  • NEW YORK, July 22, 2021 (GLOBE NEWSWIRE) -- Greystone , a leading national commercial real estate finance company, has provided a $37.5 million Fannie Mae Delegated Underwriting and Servicing (DUS) Green Building Certification loan to refinance a newly-constructed 481-unit multifamily property in Rexburg, Idaho.
  • The financing was originated by Shana Daby and Lorie Hansen, Managing Directors at Greystone on behalf of Eden Apartment LLC.
  • The non-recourse $37,500,000 Fannie Mae loan carries a 10-year term, a fixed interest rate, five years of interest-only payments, and a 30-year amortization period.
  • Loans are offered through Greystone Servicing Company LLC, Greystone Funding Company LLC and/or other Greystone affiliates.

Mortgage Rates Trend Down

Retrieved on: 
Thursday, July 22, 2021
Mortgage, Loans, Mortgage loan, Money, Finance, Fixed-rate mortgage, United States housing bubble, Economy, Second mortgage, Subprime mortgage crisis

While the economy continues to mend, Treasury yields have decreased, and mortgage rates have followed suit.

Key Points: 
  • While the economy continues to mend, Treasury yields have decreased, and mortgage rates have followed suit.
  • Unfortunately, many homebuyers are unable to take advantage of low rates due to low inventory and high prices.
  • 15-year fixed-rate mortgage averaged 2.12 percent with an average 0.7 point, down from last week when it averaged 2.22 percent.
  • Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage.

Liquid Mortgage Issued Patent for Decentralized Systems and Methods for Managing Loans and Securities

Retrieved on: 
Thursday, July 22, 2021
Money, Finance, Loans, Economy, Financial law, Credit, Mortgage loan, Debt, United States housing bubble, Mortgage-backed security, Mortgage underwriting in the United States

DENVER, July 22, 2021 /PRNewswire/ -- Liquid Mortgage has been issued a U.S. Patent for its distributed ledger technology, supporting its vision for the future of debt markets.U.S.

Key Points: 
  • DENVER, July 22, 2021 /PRNewswire/ -- Liquid Mortgage has been issued a U.S. Patent for its distributed ledger technology, supporting its vision for the future of debt markets.U.S.
  • Patent 11,068,978 entitled, "Decentralized Systems and Methods for Managing Loans and Securities," aims to make debt markets more efficient and transparent, while lowering overall ecosystem costs.
  • The patent encompasses a significant portion of the Liquid Mortgage business model, including: creating loan-backed digital assets, multi-signature loan-level blockchain accounts, lender portfolio accounts to hold loan-backed digital assets, borrower payment information and distribution mechanics, and loan balance management.
  • "More than anything, this patent issuance shows we have been thinking outside the box for years to solve issues in an industry significantly lagging in technology," said Ian Ferreira, Founder and CEO of Liquid Mortgage.

Sonnenblick-Eichner Company Arranges $38,000,000 of Interim First Mortgage Leasehold Financing for the Portofino Hotel & Marina, Redondo Beach, California

Retrieved on: 
Wednesday, July 21, 2021
Money, Finance, Financial services, Loans, Banking, Interest rates, Redondo Beach, California, Mortgage loan, Libor, Redondo Beach, SS Rosecrans

BEVERLY HILLS, Calif., July 21, 2021 (GLOBE NEWSWIRE) -- Sonnenblick-Eichner Company announced today that it has arranged $38,000,000 of interim first mortgage leasehold financing for The Portofino Hotel & Marina, a 161-room full service hotel located in Redondo Beach, California.

Key Points: 
  • BEVERLY HILLS, Calif., July 21, 2021 (GLOBE NEWSWIRE) -- Sonnenblick-Eichner Company announced today that it has arranged $38,000,000 of interim first mortgage leasehold financing for The Portofino Hotel & Marina, a 161-room full service hotel located in Redondo Beach, California.
  • The new five-year floating rate LIBOR-based loan replaces a maturing loan and provides interest carry through stabilization.
  • The hotel features a full service restaurant and lounge, lobby bar and indoor/outdoor meeting and event space.
  • The hotel is also within close proximity to major employment centers including the Rosecrans Corridor and Silicon Beach.

The Change Company Wins Best Leadership Team Award

Retrieved on: 
Wednesday, July 21, 2021
Software, Banking, Professional services, Data management, Other Construction & Property, Technology, Residential Building & Real Estate, Small business, Construction & Property, Human resources, Finance, Other Technology, Finance, Loans, Financial services, Economy, Bank, Economic history of Italy, Mortgage loan, Service industries, Subprime mortgage crisis, The Change Company, Comparably, THE CHANGE COMPANY, COMPARABLY

The Change Company was ranked #3 among small to midsized businesses in the category Best Leadership Team 2021 , ranking at the top amongst the thousands of banking, fintech, and mortgage companies rated.

Key Points: 
  • The Change Company was ranked #3 among small to midsized businesses in the category Best Leadership Team 2021 , ranking at the top amongst the thousands of banking, fintech, and mortgage companies rated.
  • The Change Company empowers homeowners, small businesses, and consumers to pursue their American dreams by bringing social and racial equity to banking and lending.
  • The Change Companys team has built businesses that have lent over $50 billion to over 250,000 borrowers and provided financial services to over two million Americans.
  • Since launching in 2016, Comparably has accumulated 10 million ratings on 60,000 U.S. companies.

Constitution Lending Partners With Sila to Revolutionize Hard Money Lending

Retrieved on: 
Wednesday, July 21, 2021
Software, Construction & Property, Finance, Banking, Professional services, Technology, REIT, Other Construction & Property, Loans, Credit, Constitution Lending, Sila, CONSTITUTION LENDING, SILA

Sila Inc. , a fintech software platform that provides payment infrastructure as a service, today announced that Constitution Lending Partners, the premier hard money lender for all property types, selected Sila as its strategic partner to realize its vision of democratizing access to real estate credit opportunities and to provide a better more seamless lending experience for borrowers.

Key Points: 
  • Sila Inc. , a fintech software platform that provides payment infrastructure as a service, today announced that Constitution Lending Partners, the premier hard money lender for all property types, selected Sila as its strategic partner to realize its vision of democratizing access to real estate credit opportunities and to provide a better more seamless lending experience for borrowers.
  • Constitution Lendings founders set out to democratize access to real estate debt for normal investors.
  • Without Sila, this part of our corporate history could have easily dragged out for years and cost us hundreds of thousands of dollars in legal and other fees, said Ricardo Sims, Founder and CEO, Constitution Lending.
  • We are proud to be supporting innovative companies like Constitution Lending by providing a payment infrastructure as a service, said Shamir Karkal, co-founder and CEO of Sila.

Third-Party Mortgage Loan Processing Solution is Transforming the Industry

Retrieved on: 
Wednesday, July 21, 2021
Loans, Money, Finance, Mortgage broker, Economy, Mortgage loan, Mortgage industry of the United States

The first third-party mortgage processing solution with anall-in-one digital platform, wemlo allows mortgage loan originators to keep an eye on every step of the process while a dedicated team of processors does the heavy lifting.

Key Points: 
  • The first third-party mortgage processing solution with anall-in-one digital platform, wemlo allows mortgage loan originators to keep an eye on every step of the process while a dedicated team of processors does the heavy lifting.
  • "The wemlo dashboard is extremely user-friendly and a great visual through the entire loan process," says Marcy Downey, a mortgage loan originator at Motto Mortgage Signature Plus in Florida.
  • Bill Mullan, a Pennsylvania-based mortgage loan originator, sends about 90% of his loan files to wemlo for processing.
  • Wemlo ,SM NMLS #1853218, is a technology-focused mortgage loan processing startup that is reshaping the mortgage broker channel.

College Ave Student Loans Latest Securitization Earns AAA S&P Rating

Retrieved on: 
Wednesday, July 21, 2021
Finance, Money, Economy, Loans, Student loans in the United States, United States housing bubble, Debt, Personal finance, Student loan, Private student loan, Securitization, DBRS

WILMINGTON, Del., July 21, 2021 /PRNewswire/ -- College Ave Student Loans announced it has completed a $279.6 million securitization of private student loans, its second for 2021 and the first to receive a AAA rating from S&P Global.

Key Points: 
  • WILMINGTON, Del., July 21, 2021 /PRNewswire/ -- College Ave Student Loans announced it has completed a $279.6 million securitization of private student loans, its second for 2021 and the first to receive a AAA rating from S&P Global.
  • "Achieving AAA ratings from both DBRS and S&P is a significant milestone for the company," said Joe DePaulo, CEO and Co-Founder of College Ave Student Loans.
  • Forbes Advisor, NerdWallet and Money also named College Ave as a winner on their "Best of 2021" awardslists in the private student loans category.
  • College Ave Student Loans started with a big vision and a simple mission take the stress out of paying for college so students can focus on preparing for a bright future.