Stephen Thomas, a former FHLB Chicago official with more than 30 years of experience in affordable housing and diversity and inclusion initiatives, has launched FutureWave Finance.

Income remained level in the third quarter while the lender increased originations of business-purpose loans.

Unison offers its first HEA securitization; NP rebrands; Finance of America launches new reverse-mortgage product; Sherman Bridge debuts investment-property lender marketplace; Arc Home appoints new president and future CEO; UWM expands DSCR eligibility requirements.

The company’s buy-before-you-sell product will initially be offered through the wholesale channel.

NP launches new jumbo program; Kiavi closes $275 million RTL securitization; Xome launches investment property market educational game; SunWest debuts DSCR loan product.

Proposed capital requirements for large banks would have an impact on high loan-to-value loans to borrowers in underserved communities, according to an analysis by the Urban Institute.

Even with elevated interest rates, some borrowers are opting for cash-out refinances to tap home equity.

Movement Mortgage is the first lender to announce that it will be using FICO Score 10-T for originating non-agency loans.

Acra Lending implements Tavant solution; Angel Oak Mortgage announces guideline enhancements; Fluent Mortgage expands East Coast footprint; ClearEdge Lending adds P&L underwriting to all non-QM programs.

Saluda Grade has ramped up its efforts in the home equity agreements space with new securitizations and lines of credit.