Homepoint launched a new jumbo mortgage product, Homepoint Jumbo Preferred, that is designed to help independent mortgage brokers in the wholesale channel outduel their retail competitors. In addition to flexibility with delayed financing, brokers can secure jumbo loan amounts for qualified borrowers that begin $1 above conforming county loan limits and go up to $2.5 million. Homepoint Jumbo Preferred does not require mortgage insurance on primary residential home loans with up to 90% loan to value, and it is available in both 15- and 30-year fixed terms. Homepoint Jumbo Preferred is available on purchases and rate-and-term refinances for primary homes, second homes and investment properties.
Advisors Mortgage Group announced the opening of its new branch office located in Carmel, Indiana. The branch, located at 90 Executive Dr., is led by market growth manager and branch manager Michael Mohr.
BeSmartee announced that it has acquired FlashSpread, a financial-analysis-as-a-service company specializing in instant tax spreading for commercial mortgage lenders and fintech companies. BeSmartee plans to leverage FlashSpread’s technology for mortgages by converting documents to data, which will help streamline some of the company’s manual processes and improve automated decisionmaking. FlashSpread will continue to operate independently as a product under the BeSmartee umbrella, with FlashSpread founder and CEO Ariel Trybuch serving as general manager. The transaction was finalized on Nov. 3, 2021.
Pennymac has announced a new rebranding initiative, under which the company’s wholesale division will change from Pennymac Broker Direct to Pennymac TPO to underscore its commitment to the wholesale channel.