Industry Briefs, July 23, 2024
(Image courtesy of Markus Winkler via Pexels.com)
Conference of State Bank Supervisors Launches Effort to Enhance NMLS
The Conference of State Bank Supervisors, Washington, D.C., released the first phase of large-scale enhancements for the Nationwide Multistate Licensing System & Registry last week.
It says the system updates will resolve pain points across the industries that use NMLS to manage their state licensing or federal registration. It will allow more than 600,000 NMLS industry users to create a username and password without further support.
Users with multiple accounts will be able to access those accounts with one username and password, among numerous other updates.
The next phase of enhancements will focus on making it easier for individuals to apply for a state license or licenses in NMLS.
Down Payment Resource Highlights Programs for Disability Pride Month
Down Payment Resource, Atlanta, is recognizing July as Disability Pride Month by highlighting 18 homebuyer assistance programs that are specifically designed to support people with disabilities and their family caregivers.
The programs highlighted have a range of offerings, including amounts of financial assistance, program types and homebuyer status, among other factors.
There are currently 2,300-plus homebuyer assistance programs in DPR’s database.
Calque, EMM Loans Offer The Trade-In Mortgage Nationwide
Calque, Austin, Texas announced that EMM Loans, Cherry Hill, N.J., (doing business as EMM Loans, Ideal Mortgage Group, Maximus Mortgage Advisors and Fidelity Lending) is offering The Trade-In Mortgage nationwide.
The product allows homebuyers to make a non-contingent offer as good as cash and backed by a purchase price guarantee from Calque. If it doesn’t sell within 90-150 days, Calque will purchase it. This setup allows homeowners to transfer and leverage their equity.
The Trade-In Mortgage is particularly beneficial for homeowners with substantial equity, the companies said.
Christopher George Enters Agreement to Acquire Greenwoods Financial Group, Subsidiary
Christopher George has entered a definitive agreement for the acquisition of Greenwoods Financial Group, Lake Mills., Wis.
It will include Greenwoods State Bank becoming indirectly wholly owned by George, and has been unanimously approved by the boards of directors of Greenwoods Financial and Greenwoods State Bank. It is subject to other customary closing conditions, including shareholder and regulatory approval.
The acquisition is targeted to close in the first quarter of next year.
George was previously Chairman of the Mortgage Bankers Association and has an ongoing role on the board of directors. He founded CMG Financial in 1993.
A&D Mortgage Introduces Loyalty Program
A&D Mortgage, Hollywood, Fla., announced the ADvantage Partner Loyalty Program for brokers.
The features include enhanced rewards, through which approved partners can earn points for every successfully funded loan.
It also offers tailored support to approved partners and exclusive networking opportunities.
Ginnie Mae Mortgage-Backed Securities Portfolio Reaches $2.6T in June
Ginnie Mae’s mortgage-backed securities portfolio outstanding grew to $2.6 trillion in June, including $36.7 billion of total MBS issuance, leading to $16 billion of net growth.
The new MBS issuance in June supports the financing of more than 113,000 households, including more than 57,000 first-time homebuyers.
It includes $35.6 billion of Ginnie Mae II MBS and $1.1 billion of Ginnie Mae I MBS, including $944 million for multifamily housing.
