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33 August 2024 I N D U S T R Y U P D A T E intended to remove barriers and make homeownership more accessible for aspiring homebuyers in underserved communities. AccessOne+ offers up to $9,000 in down payment and closing cost assistance to first-time homebuyers who live in one of 21 eligible census tracts in metropolitan ar- eas, for the purchase of a home anywhere in the United States. It requires only 1% down and homebuyers with nontradition- al credit histories are eligible to apply. "Today's first-time homebuyers are grappling with traditional down payment requirements, high interest rates, and rising home prices creating inequities and barriers that are holding back underserved communities," LDI Mortgage President Jeff Walsh said. "As we continue to unlock access to sustainable homeownership for our customers, AccessONE+ provides loanDepot with another tool to help more families achieve the American Dream of homeownership." The 21 eligible census tracts are: » Atlanta-Sandy Springs-Roswell, Georgia » Houston-Pasadena-The Woodlands, Texas » Philadelphia-Camden-Wilmington, PA-NJ-DE-MD » Baltimore-Columbia-Towson, Mary- land » McAllen-Edinburg-Mission, Texas » Phoenix-Mesa-Chandler, Arizona » Brownsville-Harlingen, Texas » Memphis, TN-MS-AR » Riverside-San Bernardino-Ontario, California » Chicago-Naperville-Elgin, IL-IN-WI » Miami-Fort Lauderdale-West Palm Beach, Florida » San Antonio-New Braunfels, Texas » Cleveland, Ohio » New York-Newark-Jersey City, New York/Jersey » St. Louis, MO-IL » Dallas-Fort Worth-Arlington, Texas » Oklahoma City, Oklahoma » Tampa-St. Petersburg-Clearwater, Florida » Detroit-Warren-Dearborn, Michigan » Orlando-Kissimmee-Sanford, Florida » Washington-Arlington-Alexandria, DC-VA-MD-WV With the addition of AccessONE+, loanDepot adds to one of the mortgage industry's largest roster of products aimed at increasing home affordability. This is complemented by the Company's holistic suite of digital tools designed to support first-time homebuyers through every stage of the homeownership journey. ARC HOME UNVEILS NEW BRAND IDENTITY A rc Home, a non-QM and non-agency lender, has announced a significant corporate rebranding to underscore its commitment to streamlined and efficient mortgage solutions. With a fresh logo, vibrant new color scheme, and a clear tagline—Non-QM Made Simple—Arc Home intends to strengthen its industry presence and service offerings. "Since stepping into my role last October, I've witnessed the tremendous potential for growth and innovation within our company," said Brian Devlin, President and CEO of Arc Home. "Our new brand identity is a testament to this potential—ushering in a new era for Arc Home with enhanced products and cutting-edge technology tailored to our brokers and correspondent lenders." Gerard McGeever, EVP of Marketing at Arc Home, added, "This rebrand isn't just about aesthetic changes. It's about making a promise to our team, our partners, and the entire mortgage community that we are dedicated to making the non-QM process as straightforward and accessible as possible. We are here to support our partners, grow together, and continue setting standards of excellence in the industry." Arc Home looks forward to this exciting new chapter, confident that the rebrand will enhance its leadership position in the non-QM lending space. This rebrand marks the beginning of many strategic initiatives; designed to streamline processes and enhance suc- cess in non-QM lending. As the industry continues to evolve, Arc Home remains committed to adapting and offering its partners comprehensive and practical solutions. OLD REPUBLIC TITLE AND CERTIFID WORK TO COMBAT MORTGAGE PAYOFF FRAUD C ertifID, a wire fraud protection company, has announced a new strategic agreement with Old Re- public Title to prevent mortgage payoff fraud in the title industry. Fraud has become an increasing source of loss in the real estate sector, reaching $446 million in a recent FBI public service announcement. About 17% of title companies have sent money to an incorrect account due to fraud, and 49% of those organizations have done so more than once, according to a study by the American Land Title Association (ALTA). Additionally, less than half of title companies have adopted the industry best practice of using a wire verification service. Mortgage payoffs have become the largest source of loss for title and real estate law firms, due to their large trans- action size at $247,000 in median loss, a complex lender landscape, and lack of consistent use of technology. The new package offered by Old Republic Title and CertifID is designed to address this significant source of loss risk. "Old Republic Title continues to focus on innovation to enable the success of our direct and agency operations," said Carolyn Monroe, President and CEO of Old Republic National Title Holding Company. "We are excited to leverage the comprehensive approach to fraud pre- vention that CertifID provides, inclusive of software, insurance, and recovery and support services, to help prevent fraud and create the best experiences for our agents and customers, and all parties involved in real estate transactions." "CertifID applauds the leadership by Old Republic Title to invest in solutions that can reduce risk while enabling efficiency in their direct and agency operations," said Tyler Adams, CEO of CertifID. "We look forward to working together to truly solve the issue of payoff fraud seen across the industry."