Optimal Blue has announced the release of Competitive Data License, a collection of key national mortgage pricing data. Competitive Data License draws upon direct-source loan data from the Optimal Blue PPE, which is used to price and lock over 35% of loans in the United States. The data solution provides lenders with insight into markups, loan-level price adjustments (LLPAs), servicing-released premiums (SRP), concessions, loan officer compensation, base price and PAR rate. The data set allows for granular benchmarking at various levels – from organization-wide to individual loan officers – enabling lenders to identify areas for improvement, replicate successful strategies, and maintain a competitive edge.
Finance of America Companies Inc., along with subsidiary Finance of America Funding LLC (FOA Funding), has announced a new debt restructuring exchange with some of its note holders. Most of the holders of FOA Funding’s outstanding unsecured notes that are due in 2025, will participate in an exchange for new notes due 2026 and 2029, as well as a cash fee. According to a statement from FOA, the move “marks another significant step to improve the company’s capital structure and achieve sustainable growth and profitability.”
Rocket Mortgage and artificial intelligence (AI) company Instabase have announced a new partnership to facilitate mortgage data extraction and automation from the 1.5 million documents the lender receives each month. According to a statement from Rocket, this technology, along with others “pioneered by Rocket,” has resulted in closing loans 2.5 times faster than the industry average.
Mortgage fintech Halcyon has announced that, starting immediately, it will contribute the proceeds from every transaction initiated on behalf of active military members or veterans to charitable organizations dedicated to supporting service members and their families.
Union Home Mortgage (UHM) has announced that it has provided more than $1 million of support to low-to-moderate income first-time homebuyers through its 1% Down Payment Assistance Program. Since December of 2023, the program has helped more than 400 families achieve homeownership, with an average grant size of approximately $2,700.
Service First Mortgage, centered in Texas, is partnering with loan officer Alex Rayner to launch Haymaker Home Loans, which will be based in Houston.
