[caption id="attachment_9147" align="alignright" width="200"] Richard Thornberry, CEO of Radian.[/caption]

Radian Group Inc. has acquired Five Bridges Advisors LLC, a developer of data analytics and predictive models leveraging artificial intelligence, machine learning and traditional econometric techniques.

The acquisition is consistent with Radian’s growth and diversification strategy, as well as its focus on the core product offerings of its title, mortgage and real estate services. In addition, Five Bridges has developed a cloud-based portal that uses deep analytics to provide customers with valuation and risk management tools that span the entire loan lifecycle, from underwriting and origination to servicing, secondary market execution, and securitization.

“We are delighted to welcome Five Bridges to the Radian family of companies, expanding our capabilities and providing our customers across the country with new levels of service and innovation across the residential mortgage and real estate spectrum,” said Rick Thornberry, chief executive officer at Radian.

“This acquisition is another example of how Radian is reengineering and revolutionizing existing industry business models to enhance the overall value proposition for our customers.”

Five Bridges will operate under its current brand and provide the same level of quality products and services to its customers through its offices in Bethesda, Md. Co-founders Steve Gaenzler and Dr. Michael Youngblood will both continue with the business.

Gaenzler will continue to run the day-to-day operations and report to Eric Ray, senior executive vice president for technology and transaction services for Radian. Later this year, Five Bridges will transition to the One Radian brand.

Freddie Mac provided more than $50 billion in home mortgages to 262,328 families through its Home Possible mortgage origination program.

The program assists low- to moderate-income homebuyers by offering a three-percent down payment solution from a variety of funding sources to families that meet or exceed a rigorous assessment process.

“Home Possible is transforming the way we serve the growing number of lower-income borrowers who want to own a home,” said Danny Gardner, senior vice president and affordable lending and access to credit at Freddie Mac. “The powerful impact of sustainable homeownership on families is something we do not take for granted.”

The organization has been helping this segment of homebuyers overcome the leading barrier to homeownership: Providing funds for the mortgage down payment. Home Possible mortgages are only available to families with income at or below their area median income, except in areas already designated as low income. The program makes mortgages available to families that meet or exceed a rigorous, required loan application review process.

Freddie Mac has been successful in educating and assisting an increased percentage of first-time homebuyers, diverse populations and Millennials in their quest to attain homeownership. First-time homebuyers account for 79.3 percentage of people benefitting from Home Possible.

Also, low-down payment offerings like Home Possible are helping to increase the homeownership rate for lower-income borrowers from its low of 48 percent during the second quarter of 2016 to 51 percent during the third quarter of 2018, according to data from the U.S. Census Bureau.

“Homeownership is critically important for families, whether they are first-time homeowners or purchasing a home they plan to live in through retirement. We believe the need and demand for affordable lending is only going to increase,” added Gardner.

Freddie Mac works with its industry partners and clients to offer affordable products, resources and education to make the dream of homeownership a reality. This includes educating potential homebuyers at the community level about their financing options, while analyzing the housing landscape to ensure the needs of low- to moderate-income borrowers are met.

The National Association of Mortgage Brokers and Lender Price unveil the NAMB Marketplace, providing brokers with easy access to dozens of lenders and vendors.

The marketplace is a new feature of the NAMB Toolbox that delivers access to an interface through which originators can interact with prospects and have access to thousands of loan programs. Lender Price provides a digital interface technology as well as product-pricing and eligibility solutions. The NAMB Toolbox was introduced at the trade group’s national conference.

NAMB Marketplace offers members real-time pricing and eligibility, built upon a modern technology stack. The Lender Price PPE displays pricing and eligibility from more than 150 lenders and integrations to over 45 vendors, ensuring visibility to the marketplace. A single click enables brokers to invite their prospect to begin an application, using the Lender Price PPE in a single platform gives brokers the digital tools they need to fund their loans more cost effectively than was possible up to now.

[caption id="attachment_9049" align="alignright" width="272"] NAMB's Bettencourt[/caption]

“NAMB is thrilled to make this announcement with Lending Price, a true visionary in digital lending,” said Richard Bettencourt, president of NAMB’s board. “Current NAMB members, along with future members, will enjoy this new tool as it is the very best solution offered to brokers to connect with their customers and prospects while aligning their operations in an easy to use, web-based solution.”

NAMB Marketplace provides mortgage brokers a modern technological solution to price a loan, engage prospects in a streamlined digital experience and ensure accurate digital delivery to wholesale lenders.

"We are excited to be partnering with NAMB to provide The NAMB Marketplace. By seamlessly combining our pricing engine with our state-of-the-art digital lending platform, we have created an open solution for brokers to find the best rate and loan program for their borrowers, while providing the best digital experience on the market," stated Dawar Alimi, president and co-founder of Lender Price.

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Newfi Lending has launched of a 2-1 buydown program that’s designed to help consumers, realtors, and brokers. The product is designed to meet the needs of home sellers and buyers in this rising interest rate market.

As the home purchase market moves from a seller's to a buyer's market across the U.S., realtors and builders are looking to offer fresh incentives to attract committed buyers. Newfi can now use seller concessions to help secure reduced mortgage payments for  the buyer over the first two years of their home loan.

The 2-1 buydown program is simple: At closing, the seller contributes an upfront fee, which will "buy" the rate "down" for the first two years of the loan. Newfi then places this upfront fee into an escrow account, where disbursements are made to make up the difference in monthly payments. The program will allow 2-1 buydowns where your payment is calculated at a rate reduction of 2% for the first year and 1% for the second year of the loan. This knocks down the new homeowner's initial out-of-pocket mortgage payment, helping them to build equity as they ease into their new home.

Here's an example: On a $250,000 loan with a rate of 5%, the monthly payment would be $1,342. After a temporary 2-1 buydown of $5,232, here's what the reduction in monthly payments would look like for the first two years.

*Sample rate provided for illustration purposes only and is not intended to provide mortgage or other financial advice specific to the circumstances of any individual and should not be relied upon in that regard.