KeyBank and the National Association of Hispanic Real Estate Professionals (NAHREP) have announced plans to partner to make homeownership more accessible to Hispanics across the bank’s footprint. Starting this year, Key and NAHREP will work together to support the goals and objectives of reducing the barriers to homeownership for the Hispanic community. Some of the partnership’s plans include educating and empowering real estate professionals who serve Hispanic home buyers and sellers; advocacy for public policy that supports the trade association’s mission; and facilitating relationships among industry stakeholders, real estate practitioners and other housing industry professionals.
Ocrolus has announced the launch of an enhanced dashboard for mortgage lenders featuring the ability to automate income calculations for both traditional and self-employed borrowers. The solution combines three trusted Ocrolus capabilities – Classify, Capture and Analyze – into one user-friendly product, specifically for the mortgage industry.
Blend has announced the addition of Assets-Derived Income to its existing Blend Income product. Blend Income is now integrated with Freddie Mac’s AIM Check application programming interface (API). The API, which utilizes Loan Product Advisor (LPA) asset and income modeler (AIM) independent of an LPA submission, enables Freddie Mac-approved Sellers and third-party originators to get a preliminary view of a borrower’s qualifying asset, income and employment before submitting a full application to LPA. With this newest enhancement, lenders will have an additional pathway to verify more income sources — including Social Security benefits, pension distributions, military benefits, child support and alimony payments —earlier in the application process.
Fannie Mae has announced new resources and programs to provide responsible access to housing and long-term sustainable homeownership opportunities for Latino communities. Building upon the launch of the HomeView homeownership education platform, the government-sponsored enterprise is unveiling HomeView en Español, a Spanish-language version providing end-to-end access to information about financial literacy and homeownership. The course is designed for Latino consumers to leverage it on their own, or to help them plan with advisors. Further enhancements to HomeView are planned for 2024.
Promise Home Loans, headquartered in California, has announced that it is now offering mortgage loans in Florida.