Rocket Pro TPO has announced the launch of a new, artificial intelligence-powered broker hotline that uses generative voice technology to help brokers update approval letters in real time. Brokers would call the hotline to provide loan details and, if the request is approved, the AI would quickly update mortgage documents quickly and easily. The new technology, according to executive vice president Mike Fawaz, is slated to go live next month.
A&D Mortgage has announced the launch of its Individual Taxpayer Identification Number (ITIN) Mortgage Program, designed to extend homeownership opportunities to a broader community. This initiative offers mortgage solutions to individuals who possess an ITIN but do not have a Social Security number, catering to a previously underserved market. The program offers eligibility for borrowers with a minimum FICO score of 660 for Super Prime loans; a maximum combined loan-to-value ratio (CLTV) of 80%, with loan amounts up to $1 million; and a DSCR (debt service coverage ratio) option available for applicants with a minimum FICO score of 700, offering a max CLTV of 70% and loan amounts up to $1 million.
Clever Real Estate has acquired Gravy Technologies, a startup that has built a loyalty rewards platform for first-time homebuyers. As part of the acquisition, Gravy’s staff, led by co-founders Jeff Dinter, Jimmy Lien, and Will Dunn, will join the Clever team.
Guaranteed Rate has updated its RateReduce program to include “RateReduce Sell.” Through the new update, a real estate agent would work with a home seller and a Guaranteed Rate loan officer to pay a fee and lock in the discounted rate for a buyer. According to a statement from Guaranteed Rate, this “allows the listing and marketing of the home to stand out compared to the competition, giving the property a higher likelihood of selling.”
