Homepoint dives into HELOCs as home equity levels remain high

Despite increased competition, wholesale lender Homepoint has rolled out a new home equity line of credit (HELOC) product. The goal is to court more brokers at a time when home equity levels remain high.  Available on investment properties, single-unit owner-occupied properties and second homes, Homepoint’s HELOC product allows eligible borrowers

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New American Funding, no longer in growth mode, lays off 240

California lender New American Funding issued pink slips to 240 employees last week, bringing the total cut this year to nearly 1,000. The force reductions come after two years of rapid expansion. “The mortgage market slowdown is unfortunately affecting our entire industry,” Rick Arvielo, CEO of New American Funding, told

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