Homepoint announced an outsourcing agreement with ServiceMac, which will now handle Homepoint’s servicing operations. The arrangement, according to a statement from Homepoint, will enable the company to “redeploy resources to support growth in Homepoint’s originations channels, including expanding product offerings.” ServiceMac is expected to begin servicing loans on behalf of Homepoint in second-quarter 2022. Under the new arrangement, Homepoint’s servicing associates will have the opportunity to join the ServiceMac team, Homepoint said.
Freddie Mac announced the launch of a new automated capability that allows mortgage lenders to assess a prospective homebuyer’s income paid through direct deposits to reduce the paper-documentation burden on borrowers. The new solution is available to lenders via Freddie Mac’s Loan Product Advisor asset and income modeler (AIM). Additional requirements and an effective date will be announced in March. Initial service providers that support Freddie Mac’s AIM for income using direct deposits include Finicity, FormFree and PointServ.
LoanDepot announced that founder and CEO Anthony Hsieh has personally purchased 3.2 million shares of the company’s class A common stock for a total of $16.2 million. The open-market purchase exceeds the number of shares that Hsieh sold during loanDeport’s initial public offering in February of last year. Hsieh said that “as loanDepot’s founder and largest shareholder, [he believes] that loanDepot’s current valuation does not fully reflect our strong business potential or our vision for long-term growth, and that’s why [he continues] to invest personal funds in company shares.”