Industry Watch: Rocket debuts “Bully Shield,” Guild acquires Legacy Mortgage and more

Rocket Pro TPO announced a new initiative, dubbed “Bully Shield,” which will cover financial penalties levied by United Wholesale Mortgage (UWM) as well as court costs for any broker who does not wish to abide by UWM’s controversial ultimatum that prohibits partner business with Rocket or Fairway Independent Mortgage Corp.

Homelendia Mortgage LLC announced its official launch, offering individual unit franchises and regional opportunities to qualified individuals, teams, brokerages and loan originators “who share a vision and passion for helping people achieve their dream of homeownership,” according to a statement from the company. The franchise model provides a turnkey solution, including licensing, training, marketing support, loan processing services and ongoing assistance to ensure success.

AmeriSave Mortgage Corp. is now offering personal loans, with prospective borrowers able to apply online for unsecured loans ranging from $5,000 to $50,000. Personal loans come with a fixed rate and monthly payments over a three- or five-year term, with approvals in minutes and no upfront fees. The company also debuted a new Lock & Drop program, in which qualifying borrowers can benefit through a 1% effective mortgage rate reduction during the first year of their home loan. AmeriSave also is offering a $750 credit that can be applied toward a qualifying future refinance transaction.

Guild Mortgage increased its presence in the Southwest with the acquisition of Legacy Mortgage, an independent New Mexico-based lender. Legacy, which was founded in Albuquerque, New Mexico, in 2002, will become part of Guild’s Southwest region. Terms of the acquisition were not disclosed.


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