There are only twelve (12) legislative days left until the November election, and today on The Big Picture attorney Mitch Kider and I will discuss what that means for lenders as well as other regulatory topics. Rates aren’t doing much. Deals continue to happen as the big get bigger (the latest example being Union Home buying AmeriTrust to shoot for $20 billion a year; Rocket closed on a multibillion-dollar credit agreement with JPMorganChase that will replace the facility it took out while two of its large acquisitions were pending last year) and lawsuits are filed, and are resolved (the latest example being NEXA Lending announcing the successful resolution of all litigation between CEO Mike Kortas and former business partner Mat Grella, bringing multi-year legal matters to a close and establishing Kortas as the sole owner of NEXA Lending). (Today’s podcast can be found here. This week’s ‘casts are sponsored by JazzX, the first true end-to-end AI platform built for mortgage. From application to closing, JazzX is a new operating model that helps you scale growth, boost productivity, and transform how your team performs. Today’s has an interview with JazzX’s Varant Herculian on effective change management and a clear strategy for integrating AI into workflows in ways that empower employees and deliver measurable business outcomes.) Correspondent and Wholesale Products More professionals are looking at reverse mortgages to reengage clients with strong home equity who may be living on a limited or fixed income. What’s holding you back? HomeSafe Second, a second-lien reverse mortgage, gives you another way to help senior homeowners leverage their equity. Roughly 36 percent of homeowners aged 75+ are denied a HELOC. That represents a meaningful share of otherwise viable borrowers who may be turned away from traditional financing. If you’re running into deals that don’t fit traditional eligibility requirements, HomeSafe Second could help you capture volume that might otherwise be lost. Fill out this form to get a whitepaper on the $14.5 trillion senior home equity market. Finance of America NMLS 2285.
