Another round of funding for Blend means one of these days the industry vendor will have to go public because all those venture capital funders are going to want a return on their investment. And Blend had better not disappoint...
A few years back, loanDepot was contemplating going public and even issued an S-1 with the SEC. The deal fell apart because the lender was displeased with the valuation calculated by its underwriters. But thanks to the Trump trade wars, a slowing world economy and more, rates are falling and originations are looking up. Perhaps, the mortgage IPO window is starting to open again?
In a similar move, FHA is developing a modern, single-technology platform suitable to the emerging digital and paperless mortgage environment. The system will provide lenders with a single port to conduct business from applications to claims, including the ability to track requests throughout the life cycle of the loan, said FHA Commissioner Brian Montgomery.
Ginnie, other agencies discuss efforts to modernize technology and business platforms to conform with the digitized, paperless mortgage market and deliver faster, efficient service.
Better.com’s other major backer is Citigroup. Better recently hired industry veteran William Buell to head the nonbank’s B2B platform. Buell has a deep resume, including stints at Bank of America, JPMorgan Chase and FirstKey…
Among the top three Ginnie Mae servicers at March 31, just three were banks: Wells Fargo, U.S. Bank and JPMorgan Chase. Among those ranked 11 to 20 four are depositories, including one credit union...
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