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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 22 February 2024 J O U R N A L NRL MORTGAGE PARTNERS WITH CALQUE TO OFFER 'THE TRADE-IN MORTGAGE' TO CONSUMERS ACROSS THE NATION N RL Mortgage, a mortgage originator, has partnered with Calque, a fintech company that enables traditional lenders to offer buy-before-you-sell programs, to launch "The Trade-In Mortgage" in 45 states. With The Trade-In Mortgage, homeown- ers can leverage their home equity to purchase a new home before selling their current one––a major advantage given unprecedented levels of equity natiowide and the highest mortgage interest rates seen in over a decade. By working with Calque, NRL Mortgage can offer better terms to their clients looking to switch homes. With The Trade-In Mortgage, NRL Mortgage clients can use the equity in their current property to make non-contingent offers, finance, and move into their next home before they sell their current home, and qualify for the home they want by bypassing key debt considerations while their new loan is being underwritten. With Calque, NRL Mortgage empow- ers everyday consumers to win bids and retain wealth by transferring their equity from one property to the next. "We are dedicated to our clients, and we aim to secure the best mortgage strategy for them, under any conditions," said Mewael Ghebremichael, CEO at NRL Mortgage. "Integrating The Trade- In Mortgage into our product offering allows NRL Mortgage to provide a lending solution for clients who want or need to tap into equity accrued in their current home in order to purchase their next home." "NRL Mortgage stood out as one of the top mortgage lenders to offer The Trade-In Mortgage," said Dan Mugge, COO at Calque. "True to their mission, NRL Mortgage brings reliability and de- pendability back into home financing for consumers, and we look forward to The Trade-In Mortgage making a difference for their buyers." Industry Update FAIRWAY INDEPENDENT MORTGAGE CORPORATION ANNOUNCES CHANGES TO WHOLESALE DEPARTMENT F airway Independent Mortgage Corporation has announced a restructuring involving its Wholesale Mortgage Department. Fair- way is pivoting the company's business model to 100% retail originations. With this move, Fairway's Wholesale platform will cease. "The people who have run Fairway's Wholesale Department are some of the most talented, humble people in the business and will be a huge value add at their next mortgage home," Fairway CEO and Founder Steve Jacobson said. "We want to thank our entire amazing Whole- sale team for its dedication and profes- sionalism over the years. We are simply making a business shift, nothing more, nothing less, in order to focus on our core business to ensure that we continue providing the best customer experience going forward." REDFIN ANNOUNCES 'SIGN & SAVE' PROGRAM R edfin announced "Sign & Save," a new way for consumers to get a better deal in real estate. Homebuyers who sign up to work with a Redfin agent before the second tour can get a refund of 0.25-0.5% of the purchase price at closing. For example, an eligible homebuyer purchasing a $500,000 home will save $1,250. For a $2 million home, eligible Sign & Save customers will get a $10,000 refund. "Redfin is putting money back in homebuyers' pockets at a time when many are struggling with high prices and mort-