Industry Watch: Redfin adds downpayment assistance information, Guild upgrades first-time homebuyer product and more

Redfin added downpayment-assistance information to home listings on its website. Each eligible for-sale listing page on Redfin in the U.S. now displays the number of downpayment-assistance programs available in that area. Interested homebuyers can input basic information and immediately receive a tailored list of programs they may qualify for, the amount of assistance potentially available to them, and links to the program pages for more information. The feature is powered by a partnership with Down Payment Resource, a company helping the housing industry connect consumers with more than 2,200 homebuyer-assistance programs nationwide.

Attom Data Solutions announced the integration of Nationwide Multistate Licensing System (NMLS) loan originator data into its “ATTOM Table of Data Elements.” The data includes the names and unique NMLS identifiers for loan officers, lenders and brokers who originate residential mortgage loans. This data set shows who is originating residential loans, their locations and volumes, and their loan products and partners.

PennyMac Financial Services announced the launch of POWER+ by PennyMac TPO, its new broker technology platform. POWER+, according to PennyMac, “offers an enhanced guided workflow that is intuitive and significantly speeds up mortgage processing time at every step. This allows brokers to complete loan setup, lock and disclose in a matter of minutes.” PennyMac also touts the platform’s ability to reduce processing time from loan creation to credit submission by “as much as 40%,” with contextual validation capabilities to ensure Uniform Residential Loan Application (URLA) accuracy before submission.

Guild Mortgage upgraded 3-2-1 Home, its mortgage program designed to provide first-time homebuyers with a low downpayment option. Guild’s latest 3-2-1 Home Plus program enables clients to purchase a home with as little as 3% down — and as part of the program, Guild provides a $2,000 Home Depot gift card plus additional assistance ranging from $1,000 to $2,500, based on area median income and property type, which can be applied toward closing costs or to increase the downpayment. The downpayment on 3-2-1 Home Plus can be funded by a gift, such as a wedding or graduation present. To qualify, borrowers must have a minimum credit score of 620. The program is available to first-time homebuyers in the 49 states where Guild operates, as well as the District of Columbia, for the purchase of single-family residences, condominiums and manufactured homes.


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