Entrepreneur Christian Faes has launched F2 Financing, a fix-and-flip lender looking to compete in the evolving sector.

Carrington introduces 40-year loan program; Moody’s upgrades NewRez’s expanded-credit business; DBRS Morningstar updates home equity asset class ratings methodology.

A lack of inventory and rising interest rates are driving a slowdown in availability of rental units. And investors are reassessing their portfolios.

The Loan Store launches HELOC product; LendingPros debuts condotel financing solution; Carrington Mortgage introduces 40-year fixed-rate terms for non-QM products; RenoFi partners with TruStage for after-renovation-value HELOCs; WAMC merges with Terra Property Trust; UWM announces four new bank statement loan options.

Annaly Capital Management plans to increase dedicated capital for its residential credit business with an emphasis on taking banks’ expanded-credit loans.

Bank statement, debt servicing credit ratio and home-equity line of credit products are bringing new value to originators, according to LoanNEX.

After a lull around the end of the first quarter, a number of expanded-credit MBS have hit the market, with more deals planned.

The CFPB has established new reporting requirements on loans for small businesses. Investment-property loans already reported under HMDA are exempt from the new standards.

First Republic’s servicer rating downgraded; Moon Mortgage offering jumbos with qualification based on cryptocurrency holdings; DBRS adds due diligence provider to “acceptable” list; Utah loosens age requirement for proprietary reverse mortgages.

The bank has been addressing fraud in its non-QM program since late 2019. The cleanup has involved fines, settlements, buybacks and the departure of more than 100 officers and employees.