MBA NewsLink Staff
Blend Launches Digital Home Equity Products
Blend, San Francisco, launched home equity loan and home equity line of credit products. The offerings, already in use by more than 20 Blend customers including U.S. Bank and Mountain America Credit Union, represent the first expansion of the company's core lending platform beyond digital mortgages.
Blend's new products streamline the application and origination process, enabling lenders to offer a digital borrowing experience. The home equity products enable lenders to increase customer lifetime value by providing a frictionless application experience for home equity products that can be completed on a mobile phone in minutes.
Ginnie Mae MBS Outstanding Increases to $2.053 Trillion
Ginnie Mae said issuance of its mortgage-backed securities totaled $29.930 billion in January.
A breakdown of January issuance includes $28.661 billion of Ginnie Mae II MBS and $1.269 billion of Ginnie Mae I MBS, which includes $1.066 billion of loans for multifamily housing. Ginnie Mae's total outstanding principal balance of $2.053 trillion is an increase from $1.924 trillion a year ago.
S&P Global Ratings Agency Adds The StoneHill Group to List of Third-Party Review Firms
The StoneHill Group, Atlanta, a national third-party mortgage services firm, announced S&P Global Ratings added the company to its list of third-party review firms. This addition signals that S&P Global Ratings completed its assessment of TSG and, in its opinion, determined the firm meets the assessment factors discussed in its guidelines,
In addition to S&P Global Ratings, TSG is accepted for third party residential mortgage-backed securities review work with Moody's, Kroll Bond Ratings Agency and DBRS.
Ellie Mae Release Encompass Update
Ellie Mae, Pleasanton, Calif., announced a new release of its Encompass Digital Lending Platform.
Highlights include expanded HELOC origination support, addition of Americans with Disability Act capabilities within Consumer Connect and Correspondent and Wholesale Lending enhancements.
BAI Launches New Executive Dashboards for Strategic Performance Analysis
BAI, Chicago, launched the BAI Executive Dashboards for financial services leaders. The Executive Dashboards provide a strategic monthly report using comparative analytics.
The first release of this new tool is focused on measuring business and consumer banking key performance metrics derived from participant organizations' account level data.