Industry Watch: New American Funding acquires DKMC and more

New American Funding (NAF) has announced its acquisition of Draper and Kramer Mortgage Corp. (DKMC).

Angel Oak Mortgage Solutions has announced the launch of the Angel Oak Bank Statement Home Equity Line of Credit (HELOC) solution, allowing self-employed homeowners to tap into their home equity while retaining their first mortgage. This offering, which qualifies borrowers based on trailing 12- or 24-month bank statements, provides a line of credit with no restrictions on usage, similar to traditional HELOC offerings. Borrowers can qualify for this product with owner-occupied homes, second homes or investment properties.

Evergreen Home Loans has announced its expansion into Montana, with three new locations in Billings, Bozeman and Helena.

Redfin has announced Sign & Save, touted by the company as “a new way for consumers to get a better deal in real estate.” Homebuyers who sign up to work with a Redfin agent before a second tour can get a refund of 0.25-0.5% of the purchase price at closing. For example, an eligible homebuyer purchasing a $500,000 home will save $1,250. For a $2 million home, eligible Sign & Save customers will get a $10,000 refund.


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