Floify has announced the availability of Floify Verify, a native electronic verification of income and employment (VOIE) service powered by Argyle. Floify Verify embeds directly into the loan application process and allows lenders to verify income and employment at a cost-effective price point. Additionally, reports generated by Floify Verify have the potential to receive representations and warranties relief on eligible loan components from both Fannie Mae and Freddie Mac. This is because Argyle, which powers Floify Verify, is an authorized report supplier to both Fannie Mae’s Desktop Underwriter validation service and Freddie Mac’s Loan Product Advisor asset and income modeler.
A&D Mortgage has announced its relocation to a new office in Fort Lauderdale, Florida. The new office is part of the Cloud Software Group Uptown Center, formerly the Citrix headquarters, comprising 309,000 square feet across two buildings. A&D Mortgage will occupy the building at 851 W. Cypress Creek Road, while also retaining the opportunity for future expansion into the adjacent property.
United Wholesale Mortgage (UWM) has announced Conventional Cash-Out 90, enabling borrowers to access up to an 89.99% loan-to-value (LTV) ratio on their homes without incurring mortgage insurance. Historically, borrowers have been limited to a maximum of 80% LTV for cash-out transactions, often requiring insurance for loans exceeding this threshold. UWM’s new offering gives mortgage brokers a refinance product that lets borrowers tap into an additional 9.99% of their home’s equity. Conventional Cash-Out 90, available immediately, is available for loan amounts up to conforming loan limits, requires a minimum FICO score of 680 and is eligible for primary homes with 30-year fixed terms.
Reggora has announced a new warranty backing the results of its software’s appraisal reviews, saying it will cover any financial loss associated with a repurchase or loan-level price adjustment stemming from an appraisal defect.
Better has announced the launch of Betsy, a new voice-based artificial intelligence (AI) loan assistant for the mortgage industry. Built through Tinman, the firm’s proprietary loan origination platform, Betsy “enhances the operational efficiency of Better.com’s licensed loan officers, processors and closers and improves its customer experience with more intelligent, timely and accurate answers to customer inquiries on an instant basis,” according to a company statement.
Ruoff Mortgage has teamed up with Calque to launch two of the latter’s ‘buy-before-you-sell’ programs, The Trade-In Mortgage and the Contingency Buster. These solutions are designed to help homeowners transition into their next home with more ease by empowering homebuyers to make non-contingent offers on their next home without the pressure of selling their current residence first.
