Floify has announced the launch of Lender Edition, a newly badged version of its mortgage point-of-sale system that introduces a flexible per-loan pricing option for mortgage lenders. Lender Edition is the counterpart to Broker Edition, a one-stop lending platform configured for the needs of mortgage brokers that was introduced in December 2023. Lender Edition includes features such as an intuitive interface for borrowers and lenders; automated document management workflows; native eSign functionality; verification of income and employment waterfall functionality; and loan progress transparency.
United Wholesale Mortgage (UWM) has announced that it is covering the upfront cost of hard credit report pulls for UWM partners. The credit report must ordered within UWM’s system for UWM to pull and cover the cost of the upfront credit pull. The credit report can only be used with UWM. If the loan doesn’t close, the cost will be covered by UWM; if the loan does close, UWM will recoup the cost from the borrower in the closing disclosure.
Change Lending has announced that it has been approved for membership in the Federal Home Loan Bank of San Francisco (FHLB-SF). This decision was based on the determination that Change satisfied all statutory requirements for membership, including those relating to capital, profitability, and liquidity. Change’s membership will become effective upon Change’s acquisition of capital stock in the FHLB-SF.
Alternative investing asset management firm Obra Capital has announced that it has hired the real estate origination and servicing team of Pangea Mortgage Capital and launched Obra Real Estate. PMC was founded in 2017 as a wholly owned subsidiary of Pangea Properties, a large private REIT. Obra Real Estate will be led by Scott Larson, who joins as managing director. Michael Bachenheimer also joins as managing director and will be responsible for deal origination.
