PennyMac Financial Services Inc. — stylized Pennymac for short — announced plans to enter the nonqualified mortgage (non-QM) market with new product offerings for real estate investors and borrowers with non-traditional income profiles. Pennymac Correspondent Group will launch an initial wave of products on Sept. 22, followed by the company’s wholesale division, Pennymac TPO, in the fourth quarter of 2025, with plans to retain servicing on all non-QM products.
Pennymac also announced it has partnered with Vesta Innovations to enhance its mortgage application process using Vesta’s cloud-based, artificial intelligence-powered loan origination platform. As part of the venture, Pennymac disclosed it has made a long-term minority equity investment in Vesta.
AnnieMac Home Mortgage announced the acquisition of select assets of Home Solution Lenders (HSL), a Florida-based lender specializing in construction-to-permanent loans. As part of the transaction, HSL President Ricky Peacock and his team will join AnnieMac, which is headquartered in New Jersey.
Wholesale lender AD Mortgage announced the launch of AD Home, a borrower portal designed to give brokers’ clients streamlined loan management and payment scheduling. Formerly known as A&D Mortgage, the company has dropped the ampersand from its name.
Equity Prime Mortgage (EPM) announced that Veterans Affairs loans — representing close to 30% of the company’s business — will be shifted directly under the EPM umbrella instead of being offered through a separate program called Vetted VA TPO. EPM will continue to partner with the Texas-based Vetted VA on loan offerings for veterans and their families.
North Carolina-based fintech company nCino announced the launch of an AI-powered document processing tool called Doc Validation. The tool automatically classifies and routes common documents — including tax returns, W-2s, pay stubs, licenses and bank statements — and provides alerts to borrowers with corrective feedback if a document is incomplete or inaccurate.
Big Purple Dot, a customer relationship management and data intelligence platform for the mortgage and real estate industries, announced the integration of an artificial intelligence feature in its proprietary CRM infrastructure. The feature transcribes and analyzes phone calls and offers additional compliance tools, such as opt-out automation when the AI tool detects disengagement from the contact.
First American Title Insurance Co. announced an expansion of fraud prevention services for policy-issuing title agents through its AgentNet platform, including advanced identity verification technology and secure wire and payoff verification.
Clear Capital announced a strategic partnership with CAPE Analytics to offer an automated property condition report for home equity loans and an inspection cascade process, providing a scalable alternative to traditional inspections that’s designed to meet investor requirements.
Friday Harbor, a Seattle-based provider of an AI-driven platform for loan officers, announced its integration with the Encompass loan origination system from ICE Mortgage Technology, providing real-time AI underwriting assistance to loan officers at the point of file assembly.
Blue Sage Solutions unveiled AI Sales Agent, a voice- and text-enabled assistant designed to simplify loan officer workflows through natural language interaction. Currently in early testing with plans for general availability later in 2025, the tool offers real-time voice recognition, human-like conversation flow and integration with enterprise systems.
DocMagic announced the launch of DocMagic One, an AI-based platform that streamlines each stage of loan manufacturing from document prep to e-closing, offering automated compliance, intelligent workflows and predictive tools designed to boost efficiency and reduce manual tasks.
