Industry Watch: New downpayment assistance tool from Freddie Mac and more

Freddie Mac announced the launch of DPA One to help mortgage lenders quickly find and match borrowers to downpayment assistance programs nationwide. DPA One is a new tool that aggregates and showcases downpayment assistance programs in a single, standardized tool so that lenders can quickly and efficiently access and compare programs. DPA One is available immediately at no cost to lenders, housing counselors and downpayment assistance program providers. DPA One currently includes the downpayment assistance programs available for 48 of the 50 state housing finance agencies, including local and municipal programs for the Texas and Minnesota markets. Additional local and municipal assistance programs will be available for Florida, Virginia, California and Kentucky before the end of this year, with the remaining local and state programs coming online in 2024.

Blend announced the launch of Blend IMB Essentials, a new edition of the company’s mortgage suite designed to provide the most important features to retail independent mortgage banks in today’s market. The offering includes Blend’s application process, soft credit pulls for cost savings, hard credit pulls, automated conditions management, and real-time loan pricing and scenarios. It also enhances the capabilities of loan officers through advanced mobile functionality.

Mortgage fintech Milestones and financial fitness software provider FinLocker announced a strategic alliance. The new partnership aims to provide mortgage lenders with an end-to-end engagement solution to attract, nurture and retain homebuyers while ensuring that consumers have a smooth transition from initial interest to mortgage preparation, closing and beyond. FinLocker provides mortgage lenders and originators with a personalized engagement platform to attract early-journey homebuyers to their business, and it nurtures them using the financial tools and education within the platform to achieve mortgage readiness and homeownership sustainability. Milestones complements this approach by guiding these educated leads throughout the decade-long journey of homeownership with online home management “hubs” that deliver an array of home services, such as home value insights, maintenance tasks, document storage and more.


More Headlines