Industry Watch: J.P. Morgan invests in MAXEX, Lower raises $100 million and more

Homebridge Financial Services has opened a new California branch in Morgan Hill. Located just 10 miles south of San Jose, the branch is led by a branch manager Rhonda Dalton and sales manager Monique Stanford, who together have more than 50 years of combined experience in mortgage finance.

MAXEX announced it secured a strategic investment from J.P. Morgan, with participation from existing MAXEX investors AGNC Ventures and Moore Asset Backed Fund, LP. The investment is intended to accelerate broad market adoption of the MAXEX exchange platform for buying and selling loans in the U.S. non-agency mortgage market. Terms of the investment were not disclosed.

Millennial and Gen-Z focused home finance platform Lower has raised $100 million in its Series A Funding round. The round was led by venture capital firm Accel, with Accel partner John Locke joining Lower’s board of directors. Lower plans to use the funds to expand its product line and accelerate its growth.

Nationwide Appraisal Network (NAN) has implemented a new appraiser incentive, now wiring appraisers their full appraisal fee within 24 hours for work completed on-time or early. Appraisers are currently experiencing high levels of volume, and according to a statement from NAN, the new incentive aims “not only support them through the current spike but show our appreciation for their hard work and dedication to NAN and this industry.”


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