Industry Briefs From SoftWorks AI, Ginnie Mae, Calque Partners

SoftWorks AI Rebrands as TRUE

SoftWorks AI, New York, launched an extensive rebrand, including changing its name to TRUE. The new name reflects the company’s unique ability to give lenders a true picture of a borrower by using AI to inspect and audit every data point when verifying a loan and its underlying documentation.

“TRUE uses AI to help lenders address customers’ most important expectations – speed, accuracy and reduced risk,” said Ari Gross, CEO of TRUE. “We are an AI lab focused executively on the lending sector and our AI platform is fully trained to address the challenges and nuances of lending.”

Ginnie Mae June MBS Issuance Down

Ginnie Mae guaranteed more than $46 billion in mortgage-backed securities in June. While new mortgage loan originations were slightly down compared to May, Ginnie Mae reported a net increase in securitized loan production for the reporting period.

June’s issuance brings the Ginnie Mae MBS program balance outstanding to $2.233 trillion. June issuance includes $45 billion of Ginnie Mae II MBS and $1.65 billion of Ginnie Mae I MBS, which includes $1.46 billion of loans for multifamily housing.

Calque Partners with Blok on Mortgage Lending Option in Tennessee

Calque, Austin, Texas, a provider of offer buy-before-you-sell programs, launched The Trade-In Mortgage with Blok, Franklin, Tenn., a real estate agent services platform designed to enhance end-to-end services for their real estate partners. With The Trade-In Mortgage, a homebuyer in Tennessee can make a non-contingent offer that is as good as cash on a new home. Buyers can use the equity in their current home to make a larger down payment on their next home. The “found-cash” can help offset the size of the new mortgage and bring the monthly payment into reach.”