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.

The Mortgage Industry Standards Maintenance Organization released its private-label residential MBS specifications, aimed at making it easier for ratings services to review MBS.

The new connections and funding are designed to make the loan trading platform available to more sellers, particularly those that focus on agency business.

Both lenders and servicers are looking into automation to help reduce costs.

Maxex has a network of 350 bank and nonbank originators...

Mortgage companies across the spectrum are looking for ways to reduce expenses. Automation and artificial intelligence might be a solution.

Most impacted securities have already made the transition from the London Interbank Offered Rate. S&P expects the LIBOR Act will minimize the risk on the remainder.

For the third consecutive month, mortgage credit availability declined, with some products reaching their lowest levels in a decade. It’s only expected to get worse as lenders worry about the economy.

The retail channel gained market share in the jumbo sector as Wells retreated from correspondent lending.

Some lenders note that they’re comfortable approving DSCR loans with ratios of less than 1.0 due to expectations that rents will rise.