NewFi Lending is touting its EquityChoice product as one of the first new mortgage products to hit the market in more than 30 years.

William Erbey, the founder of Ocwen Financial, was selected as CEO of Altisource Asset Management. Erbey owns nearly 50% of AAM.

New legislation that would make it easier for workers in the legal cannabis industry to receive mortgage financing is unlikely to pass the Senate in 2024.

Planet Home Lending plans to grow its construction loan volume this year and recently hired a construction sales manager.

The amount of fix-and-flip properties sold in the third quarter of last year was down slightly but investors are hopeful that the market will pick up steam in 2024.

NQM Funding updates DSCR product requirements; Truss Financial Group debuts no tax return HELOC product; Academy Mortgage launches DSCR offering; Angel Oak issues non-agency MBS that leverages blockchain technology.

While the retail channel remained the predominant source for jumbo lending, originations through the channel fell 9.0% from the second to the third quarter. Correspondents and brokers gained share. (Includes data table.)

The changes to the CDFI certification process provide increased flexibility while ensuring organizations remain mission driven.

First-lien mortgage portfolio holdings at banks and thrifts increased by 0.8% from June to September. (Includes data table.)

PIMCO, Invictus Capital Partners, Angel Oak and Angelo Gordon are expected to issue securitizations backed by investment-property mortgages underwritten using debt-to-service coverage ratio.