TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1501025
June 2023 » thefivestar.com 31 June 2023 I N D U S T R Y U P D A T E KIAVI EXPANDS INTO DSCR LOANS K iavi, one of the nation's largest lenders to real estate investors, has expanded its rental property financ- ing product to now include condominiums. This product expansion enables Kiavi to help real estate investors with rental units in multitenant buildings and townhomes secure reliable, timely, and competitively priced cap- ital to grow their rental property portfolios. "We are thrilled to be expanding our rental financing offerings to include units in high rises, townhomes, and other multiunit buildings," said Stephanie Casper, Chief Revenue Officer for Kiavi. "Market dynamics such as increasing demand for rental units and urbanization point to an opportunity for real estate investors to scale their businesses by investing in rental condominium proper- ties." With this expansion, Kiavi's DSCR rental loans finance single-family houses, planned unit developments (PUDs), two- to four-unit properties, and now units in multitenant buildings and townhomes with a home- owners association. Real estate investors are increasingly financing their rental properties with Kiavi because of the lender's competi- tive rates, clear and transparent pricing, no hard credit pulls, easy-to-use technology, and low-document process. With more than $13 billion in funded loans, Kiavi is one of the nation's largest private lenders to residential real estate investors (REIs). Kiavi harnesses the power of data and technology to offer REIs a simpler, more reliable, and faster way to access the capital they need to scale their businesses. Formerly known as LendingHome, Kiavi is committed to helping its customers revitalize the approximately $25 trillion worth of aged U.S. housing stock to provide move-in ready homes and rental housing for millions of Americans across the country. NATIONAL MI INTEGRATES WITH VESTA LOS N ational Mortgage Insurance Cor- poration (National MI), a subsidi- ary of NMI Holdings, Inc., is now integrated with Vesta, a loan origination system (LOS) provider and software-as-a-ser- vice (SaaS) company. The integration enables lenders to obtain price quotes and order National MI's real-time, risk-based mortgage insurance through its Rate GPS tool instantly without having to leave the Vesta LOS plat- form. National MI's API platform enables lenders and LOS providers to quickly and seamlessly retrieve accurate mortgage insur- ance (MI) quotes through Rate GPS. "We are delighted to partner with Vesta to make ordering MI through our Rate GPS tool as easy as possible for lenders," said Norm Fitzgerald, Chief Sales Officer with National MI. "We are thrilled to add Vesta, a leading SaaS company building next-generation LOS technology, to our list of integration partners." Using open, cloud-based APIs, Vesta's LOS empowers lenders of all sizes to build customizable workflows and rules around their mortgage processes without using developer resources. "We are excited to offer National MI's Rate GPS through Vesta's LOS," Vesta CEO Mike Yu said. "This partnership is just anoth- er example of our ongoing effort to provide digital solutions that significantly simplify and streamline the mortgage origination process for lenders and their borrower customers." Magazine INTRODUCING The Five Star Institute's premier trade publications, DS News and MReport, have joined forces to become MortgagePoint. This new publication brings you the same exclusive news, features, interviews, and commentary you've come to expect from Five Star—now taken to the next level and all in one place. MortgagePoint is your one-stop shop for coverage of the full spectrum of mort- gage, from originations to default. Scan the QR code to sign up and learn more. THE INDUSTRY'S MOST VALUED PUBLICATIONS JOINING FORCES