Optimal Blue, a division of Black Knight, has announced the release of CompassEdge – a new hedging and loan trading platform touted by the company as ”the first of its kind in the capital markets sector.” CompassEdge, according to Black Knight, is the result of “Optimal Blue’s multi-year effort to combine its industry-leading CompassPoint, Optimal Blue Secondary Services and Resitrader solutions.” Into one unified platform. The new suite integrates pipeline risk management tools, analytics and dynamic loan sale and mortgage servicing rights (MSR) valuation functionality, streamlined under an interface that “enables users to efficiently complete a loan sale in just a few clicks.”
Lenders One Cooperative has announced the opening of its second mortgage lender in-store branch location at a Walmart store in Boonton, New Jersey. The new branch, operated by co-op member MLB Residential Lending, is part of Lenders One’s nationwide initiative to offer prospective homebuyers access to mortgage origination solutions where they shop within their community.
Marlin Mortgage Holdings has entered into a letter of intent to acquire 100% of the outstanding equity of New Jersey-based direct lender LoanFront. No terms of the transaction have been disclosed.
According to documents filed with the U.S. Securities and Exchange Commission, Finance of America Mortgage (FOA) plans to shutter its forward mortgage originations operation by the end of the year, focusing instead on reverse originations, commercial loans and lender services. The decision, approved by Finance of America Companies’ board of directors, is the latest development in a tumultuous period for the company, following an exit from wholesale mortgage and Guaranteed Rate’s withdrawal from the acquisition of FOA’s retail mortgage channel.