Student loan debt and rising interest rates are causing challenges for mortgages underwritten using debt service coverage ratios.

Altisource Asset Management spilled $13.4 million of red ink in the third quarter, bringing its total losses to $23.9 million since the fourth quarter of 2022.

CFPB increases threshold to determine whether higher-priced mortgage loans are subject to special appraisal requirements; LoanStream licensed in Alaska; Upstart launches HELOC product; Valley National Bank launches HELOC for LMI borrowers.

Change has ensured its CDFI status through 2025 following an agreement with the CDFI Fund.

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.

MFA Financial and other non-QM players could benefit if interest rates stabilize heading into 2024.

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

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