Brian O’Shaughnessy, the former co-CEO of Rama Capital Partners, launched ARDRI to provide a mix of the latest technology and customer-focused operations for non-QM mortgage brokers.

A change in FHA lending requirements could lead to more non-permanent residents using non-QM options.

Toorak Connect is an underwriting platform that uses artificial intelligence and machine learning to score loans based on risk. It has been used to underwrite more than $5 billion in business-purpose loans since its launch in 2022.

The subservicing solution is designed to manage the unique challenges of servicing home equity lines of credit.

The company recently received pre-seed funding to launch a stablecoin, $USH, that will be pegged to its portfolio of home equity investments.

Brookfield to acquire majority stake in Angel Oak; Dominion Financial launches AI chatbots; Carrington Mortgage’s correspondent channel goes fully non-QM; Sachem Capital takes loss in 2024.

The lender is seeing strong demand from borrowers and the secondary market for non-agency business purpose loans.

Loan originators are looking to bank statement and DSCR loans to boost production in a higher-for-longer interest rate environment, according to Tom Hutchens, president of Angel Oak Mortgage Solutions.

Tomo said it can save the typical homebuyer $4,000 at closing through the use of its AI underwriting software.

Fix-and-flip operators saw increased competition in some areas in the fourth quarter, but are optimistic for growth in 2025.