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Premier Lending Inc. Adopts FICO Score 10 T 

North Carolina-based mortgage lender Premier Lending Inc. has adopted the FICO Score 10 T credit-scoring model for its nonconforming loan originations and whole loan acquisitions. Premier Lending is adopting FICO’s updated credit-scoring model “to continue to drive the company’s innovation strategy forward and help make more homeownership dreams a reality,”

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Zonda Announces Major Business Acquisition

Zonda, one of the leading data providers in the homebuilding industry, has acquired Builders Digital Experience (BDX), the company announced on Wednesday.  By extension, Zonda also acquired, one of the largest listings platforms for newly constructed homes, and Envision, a new home design platform. Founded in 2000, BDX is

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FHA Institutes New Payment Supplement Partial Claim

The U.S. Department of Housing and Urban Development (HUD) on Wednesday issued a mortgagee letter that implements the Federal Housing Administration’s (FHA) payment supplement partial claim. The new loss-mitigation alternative resulted from the FHA’s acknowledgment that its toolkit wasn’t enough to support struggling borrowers as mortgage rates surged. Since March

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NAR Adds Home Improvement Contractor’s App To Realtor Benefits

The National Association of Realtors (NAR) announced on Wednesday the addition of a home repair estimate app to its package of NAR Realtor Benefits for members. Curbio, a provider of pre-sale home improvement services that requires payment at closing, will provide its “Build Your Own Estimate” mobile app to NAR

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Mortgage Applications Slump As Rates Return Above 7%

Mortgage demand continued its downward trajectory last week as interest rates moved back above 7%. Mortgage applications decreased by 10.6% on a seasonally adjusted basis during the week ending Feb. 16, according to the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey. A stronger-than-expected inflation reading sent mortgage rates back

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Mortgage Startup Tomo Enters The Home Portal Wars With AI Tools

Mortgage startup Tomo has thrust itself into the “portal wars” arena with the launch of Tomo Real Estate, its new home search site, the company announced this week. “We’re not just another listing portal,” Carey Armstrong, Tomo co-founder and COO, said in a statement. “Tomo Real Estate is here to

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