Mortgage Coach has announced a partnership with online student loan advisor LoanSense. The partnership, per a statement from Mortgage Coach, “equips mortgage lenders to help homebuyers with high monthly federal student loan payments achieve better home financing outcomes by enrolling in federal student loan Income Driven Repayment plans and Public Service Loan Forgiveness.” The partnership gives Mortgage Coach members access to a purchasing power calculator that determines how much borrowers’ monthly student loan payments can be reduced — and how much their home purchasing power can be increased — through enrollment in an IDR plan. Once borrower eligibility is determined, loan originators can electronically refer borrowers who would benefit from enrolling in an IDR plan to LoanSense, where they will receive assistance navigating the complexities of correctly completing and submitting their IDR application. Upon IDR plan enrollment, LoanSense notifies lenders so they may resume the home financing process with increased purchase power.
Clear Capital has completed the acquisition of CubiCasa, a Finland-based proptech startup. Under the Clear Capital umbrella, CubiCasa will expand its mobile technology that automates floor plan sketch creation and digitizes property data collection. Clear Capital was the first customer for CubiCasa’s Digital GLA (gross living area) calculation product.
Compass Mortgage is expanding the scope of its operations and is now licensed in Virginia, Washington, North Carolina and South Carolina.
Guaranteed Rate has announced the opening of a new branch in St. Joseph, Michigan. Located at 717 Ship St., the new branch is the eighth location the company has opened in the state.