Industry Watch: UWM expands temporary rate buydowns; new branches for CMG and Nations Lending; and more

Arrive Home, a national downpayment-assistance facilitator that offers credit solutions for borrowers in underserved communities, has announced its nationwide launch. The social enterprise aims to increase homeownership across the country, focusing specifically on minority homeownership by working with governmental entities, mortgage lenders and nonprofit groups to offer various mortgage products. Arrive Home offers both a downpayment-assistance program and an earned-equity program that enable correspondent lenders to deliver loans to responsible borrowers who qualify under Federal Housing Administration guidelines.

CMG Home Loans announced a new branch opening in Scottsdale, Arizona. This will be the company’s seventh office in Arizona, and it will headed by area sales manager and branch manager Matt Kron.

Nations Lending announced the opening of its newest branch in Summerville, South Carolina, serving buyers across the Greater Charleston region. The company hired Hunter Jackson as branch manager.

United Wholesale Mortgage (UWM) announced an expansion of its temporary rate buydown offerings. These products will now help offer savings of up to 3% for borrowers by allowing brokers to choose from 3-2-1, 2-1, 1-1 and 1-0 buydown options. Additionally, brokers can give the option of lender-paid buydowns in addition to seller-paid rate buydowns. These offerings are available for conventional, FHA and VA borrowers who need a lower rate at the start of their loan — or additional money for expenses such as furniture or upgrades. UWM initially offered temporary rate buydowns in August 2022, with 2-1 and 1-0 options for conventional primary and second home purchases, as well as FHA and VA primary home purchases.


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