UWM, Guaranteed Rate, Loandepot launch new initiatives this week

As the mortgage industry grows Recently triggered a wave of cooperation and venture capital investmentThis week, some of the home loan giants have also launched new measures and deals of their own.

Here are some developments from industry leaders over the past seven days:

UWM offers free evaluations on its 1-0 purchases
In an effort to move the needle toward brick-and-mortar brokers and help them attract buyers and real estate agents, Pontiac, Miss.-based United Wholesale Mortgage Co. has launched an agreement that will pay for appraisals on both conventional and government loans. through its 1-0 temporary interest rate purchase planThe offer is valid through March and will provide savings on appraisals and first-year mortgage payments. The company will begin offering rate buybacks in 2022.

Guaranteed rates tell agents “Lock it, list it”
The Guaranteed Rate Program is designed to help real estate agents and real estate agents cope with high home payments, giving sellers the opportunity to lock in discounted rates and make their properties more attractive to potential buyers. After acquiring a new listing, agents will work with registered sellers. The program, which offers lower mortgage rates, can be used to help the home stand out in marketing and promotions. This program is available on conforming mortgages and jumbo mortgages with higher balances.

“We want to offer real estate agents and their clients the opportunity to lock in an interest rate so they can market to potential buyers. In an environment where interest rates can fluctuate, this is a key selling point for future buyers,” said Jeremy Collett , Executive Vice President, Head of Capital Markets At this Chicago-based bankin a press release.

Loandepot partners with Exit Realty Network
Headquartered in Irvine, California Digital lender Loandepot Announced its addition to the strategic partner network of Exit Realty Corp., a North American business with agent franchises in the United States and Canada. Exit’s team of real estate professionals will be able to leverage Loandepot’s local mortgage advisors to facilitate sales and support buyers.The partnership is Latest agreements between home lenders and real estate companies Both sectors have struggled to attract customers over the past 12 months amid a sluggish housing market. Exit Realty was founded in 1996 and is headquartered in Mississauga, Ontario.

Meanwhile, outside of the buying and selling process, other familiar names have forged new partnerships that affect cybersecurity and tax treatment.

U.S. Treasury Department partners with Spera Security to combat cyber threats
To mitigate identity-driven cyber risks, Reverse Mortgage Finance Corporation American Financial Corporation Indicates that it will use Spera Security’s tools and services. The Plano, Texas-based mortgage company said it is seeking solutions to quickly identify and remediate potential threats before they develop into more costly problems.

The home loan industry has been troubled A series of cyber attacks this yearrecently highlighted Mr. Cooper’s information leakedwhich resulted in some customers being unable to fully access their accounts for more than a week.

Wells Fargo outsources residential tax solutions to Corelogic
The San Francisco banking giant is trusting Corelogic to oversee and manage the real estate tax processing operations serving Wells Fargo Home Lending customers. Following this decision, the banking unit’s real estate tax team will be laid off and employees will be offered the opportunity to move into similar roles at Corelogic.The recent decision to eliminate internal teams in 2023 Wells Fargo mortgage-related cuts Who returns Cut back on its service portfolio This year.

Through the new partnership, Wells Fargo will be able to oversee tax customer service through the Corelogic digital tax portal and streamline the bank’s mortgage servicing operations.

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