The National Association of Mortgage Brokers (NAMB) is presenting an anti-money laundering (AML) training webinar that meets the rules and regulations of the U.S. Department of the Treasury. The webinar is scheduled for Tuesday, March 22, from 2 to 3 p.m. ET. The Financial Crimes Enforcement Network requires all nonbank residential mortgage lenders and originators to establish AML programs and to file suspicious activity reports. Under the rule, companies are statutorily required to ensure that their employees undergo appropriate training on an annual basis.
GO Companies, a Columbus, Ohio-based holding company, announced the launch of its business and its intent to form “a one-stop shop for homebuyers that includes mortgages, real estate brokerage services, title services and more.” The business will be led by CEO Michael Isaacs and has acquired GO Mortgage, a nationwide independent mortgage bank formerly known as Wisconsin-based GSF Mortgage. It also has a controlling stake in 3 Degrees Realty, a residential real estate brokerage, and a minority stake in MeyMax Title, a residential real estate title insurance company. GO Companies plans to merge services from all three companies, and it also is looking to complete a transaction with a property and casualty insurance company to provide these solutions to homebuyers.
Incenter acquired Edgemac, adding it to the Incenter family of 11 companies. Founded in 2006, Edgemac helps investors, originators and other industry participants evaluate loan quality so they can make informed risk-management decisions when buying, selling or securitizing mortgages. The company offers loan file due diligence and related document management services to support the closing, purchase, sale and securitization of residential and business-purpose mortgage loans.
Milo announced a $17 million Series A funding round. The financing was led by California-based venture capital firm M13, with additional participation from QED Investors and MetaProp, who also were investors in the previous seed round.
LoanDepot unveiled a new company operating unit: mello, to be led by newly appointed president and chief operating officer Zeenat Sidi, who brings 25 years of experience with senior leadership roles at SoFi, Capital One and RBC. Under Sidi’s leadership, mello will develop digital-first secured and unsecured lending products that leverage LoanDepot’s customer engagement channels, performance marketing assets and proprietary technology stack. The business unit also will house the company’s mortgage-adjacent businesses, such as mellohome Real Estate Services, melloinsurance, and mello title and escrow services, as well as oversight of the company’s customer contact center, mello DataMart and performance marketing engine.
Lenders One Cooperative announced that it is leasing space with Walmart to bring mortgage solutions to the many customers visiting their stores. Members can benefit by operating “store-in-store” branch locations, offering mortgage solutions that include purchase, refinance and home equity lines to customers. Lenders One currently has three locations under lease, with “many more opportunities to come,” according to a company statement.
Scotsman Guide partnered with Cherre to integrate Scotsman Guide’s residential and commercial mortgage data into Cherre’s platform. Scotsman Guide’s data provides an early look into mortgage deals that enter the finance pipeline months before they are recorded through traditional data sources. The move enables mutual customers to add market data — from property types and loan amounts to FICO scores — for an exclusive, high-frequency view into mortgage finance pipelines through their Cherre data warehouse.
