#loan-origination

#loan-origination

Overlays, or extra rules layered on top of standard guidelines, help lenders manage risk and ensure loans meet investor expectations. Those selling into the secondary market can use overlays to meet multiple investor standards, while portfolio lenders can align the technology with in-house credit policies. Our new underwriting overlays feature gives lenders the ability to instantly encode their own judgment and policies into Friday Harbor, said Theo Ellis, CEO and co-founder of Friday Harbor.

Sierra Pacific's team originated about $1 billion over the past 12 months, with a portfolio weighted toward conventional loans (63%) and purchase transactions (61.5%), according to mortgage tech platform Modex. By comparison, UHM produced $5.5 billion during the same period, also concentrated in conventional (61.3%) and purchase loans (63.2%). The deal also expands UHM's geographic reach. Sierra Pacific brings stronger footprints in California, Kansas and Tennessee, while UHM's core markets remain in Ohio, Michigan, Texas and Florida.

"This will be our chance to integrate with the ARIVE network. It's another path for them to come to us," said Dan Sogorka, pointing to the significance of this connection in expanding Rocket's accessibility to brokers and their clients.