Homepoint announced that it will provide borrowers with a $500 credit toward appraisal costs on primary home purchases. The credit opportunity is available in all 50 states and has no planned end date. The credit is being offered on conventional loans for primary residences that are owned and sold by Fannie Mae, and specifically designated by the agency as HomePath properties. The HomePath program gives homebuyers the opportunity to make offers and purchase Fannie Mae-owned properties before they are available to investors.
Candor Technology announced the creation of an automated underwriting engine for its Loan Quality Services (LQS) platform. The platform gives client members access to automation of numerous capabilities, including primary source document and data validation; re-underwriting of income and assets; application of guidelines and overlays; defect identification and resolution; and reporting and repurchase defense data.
Planet Home Lending is opening a new branch in Lehigh Valley, Pennsylvania, as part of its continued expansion. The new office will be led by retail branch managers Christopher Lewis and Nick DeJesus, as well as sales manager Andrew Keller.
Guild Mortgage acquired Wisconsin-based independent lender Inlanta Mortgage Inc. Inlanta, which serves borrowers in 27 states, had announced its intention to shutter its operation but was instead acquired by growth-oriented Guild. In a statement, Guild CEO Mary Ann McGarry said that the deal is “part of the company’s plan to grow both in existing markets and by entering new ones with selective acquisitions.” Financial terms of the acquisition have yet to be disclosed.