The Mortgage Bankers Association urged VA to adopt lender-generated documentation and bulk invoicing because loan-specific invoices are often not available.
As part of the agreement, CrossCountry paid $25.4 million to United Wholesale Mortgage, a termination fee to end the acquisition agreement UWM had with Two Harbors.
The second lien tied to the crypto pledge requires monthly payments and the combined interest rate for the product could be higher than a comparable traditional mortgage.