The Federal Housing Finance Agency (FHFA) announced the establishment of its Office of Financial Technology, a centralized source of information to support FHFA in advancing its priorities related to the adoption and deployment of new technology.
Guaranteed Rate announced the launch of PowerBid Approval, a new program “designed to give homebuyers the strength, speed and confidence they have to have to compete against deep-pocketed cash buyers and institutional investors.” The program offers priority turn times on fully underwritten approvals, often in less than 24 hours, according to the company.
The Association of Independent Mortgage Experts (AIME) launched the Broker Action Coalition Political Action Committee (BACPAC), a lobbying group that, according to the organization, “will serve to amplify the voices America’s independent brokers on an unprecedented scale.” AIME described BACPAC as “a bipartisan initiative that uses voluntary contributions to help amplify, defend and promote the interests of the wholesale broker channel to support a variety of initiatives, including updating federal regulations, addressing veteran and minority homeownership challenges, and equalizing channel discrepancies.”
Angel Oak Home Loans opened five new branches in three states. The locations include San Marcos, California, led by Sean Casey, senior vice president and Western regional sales manager; Charleston, South Carolina, led by Ed Powell, senior vice president of Angel Oak’s consumer direct division; Columbia and Cheraw, South Carolina, both led by Drew Church, senior vice president and regional sales manager; and Jacksonville, North Carolina, led by Brian Mitchell, regional sales manager. The additions bring the company’s total number of offices to 52 across 43 states.