Pennymac is raising its conforming loan limits, effective immediately, ahead of the Federal Housing Finance Agency’s official announcement in November. The increase of nearly $13,000 for single units comes a day after United Wholesale Mortgage hiked its conforming limits, becoming the first major lender to do so in this market cycle. “By getting ahead of […]
Pennymac, like UWM, raising its conforming loan limits early Read More »
In today’s digital age, lenders are keenly aware of the value in maintaining essential mortgage technology systems, but expenses that hold back some from moving forward on upgrades and improvements can cause future financial pain. Having strong, reliable and new tools is top of mind at many lenders, but the decision-making behind applying changes isn’t
EXCLUSIVE RESEARCH: The mortgage lender’s conundrum behind tech decisions Read More »
Financial technology firm Pacaso has closed on a revolving credit facility it will use to enable sales of 30-year second-home mortgages with co-borrowers into the securitized market. The $100 million facility from Texas Capital Bank will fund Pacaso’s purchases of the mortgages, which have an initial five-year interest-only period. It also will accommodate inclusion of
Pacaso gets funding for non-QM co-borrower securitizations Read More »