United Wholesale Mortgage (UWM), has announced Refi75, a 75-basis-point incentive on any note rate for conforming conventional, FHA and USDA rate-and-term refinances, along with FHA streamlines and VA interest rate reduction refinance loans (IRRRLs). This pricing incentive is available on new locks through October 31.
Guild Mortgage has announced Flex Payment Mortgages, a suite of products combining federally insured home equity conversion mortgages (HECMs) with options for larger loan amounts as well as the reverse mortgage for purchase. The program provides several options for customers to receive the proceeds from their loan and the ability to choose which option best suits their needs. Options include funds advanced for a home purchase, a lump sum payment, line of credit, monthly payments, or a custom combination.
OCMBC, Inc., has announced the acquisition of HomeStar Financial Corporation, with the transaction formally closing on Aug. 29. Irvine, California-based OCMBC, which is licensed in 48 states and does business as LoanStream Mortgage, was the 26th largest lender last year according to Scotsman Guide’s rankings, with a total volume of $3.9 billion. More than $2 billion of its volume was non-QM, making it the second-largest non-QM lender in the country.
