If you’re a fan of the Valon 50m Series, you’ve probably seen some new updates to it in the past month. And it’s no wonder you’d want to check it out: the new version comes with a sleeker design and some new features. But it’s not just that. This version has also got a major update on its physics, which means it’s now better than ever. That’s not to say that the version before it was bad, but this one is much more refined, making it a must-have.
Approval by Fannie Mae to service government-sponsored home loans
Fannie Mae was established by the United States government in 1938 to provide liquidity and stability to the mortgage market. Fannie Mae provides a wide variety of financial services to the mortgage industry.
Fannie Mae buys home loans from banks and other lenders. It then packages these loans into mortgage-backed securities (MBS). The MBS are sold to investors. This creates a secondary mortgage market.
In the 1930s, the Great Depression caused a decline in the housing market. Congress created Fannie Mae in order to provide affordable mortgage funds for home buyers. However, the company’s popularity decreased after it went private in 1968.
Today, Fannie Mae continues to provide value to the mortgage market, and is a critical component of the U.S. housing system.
A majority of home loans in the United States are backed by Fannie Mae. These mortgages provide homeowners with peace of mind and steady monthly payments throughout the life of the loan.
Fannie Mae’s mortgages are available to consumers who have a credit score of at least 620. They can also qualify for a Fannie Mae loan modification program that can modify a borrower’s interest rate and monthly payment.
Buying a home can seem like a daunting task. There are many hurdles to clear. Before you start the process, you should be sure you are aware of all the requirements.
Funding round led by a16z
Andreessen Horowitz recently led a $50 million Series A funding round for digital mortgage servicer Valon. Previously known as Peach Street, the company is positioned as a mobile-first servicer. It provides borrowers with real-time visibility into their loans and allows lenders to request information about borrower balances and performance.
One of the largest challenges facing borrowers today is paying their mortgage. Several companies are aiming to make the process easier for borrowers. In this round, Valon secured funding from Zigg Capital, Jefferies Financial Group, Soros Fund Management, 166 2nd LLC, and New Residential Investment Corporation.
The company also landed a coveted Fannie Mae approval to service government sponsored home loans. This will help the company grow significantly in the coming years. With this latest round of funding, Valon expects to triple its headcount to 100 by the end of the year.
Andreessen Horowitz has had an involvement in several housing related startups, such as AirBnB and Brazil’s housing marketplace Loft. For this reason, the company is a good fit for a16z. Their START program is powered by a16z seed fund and introduces founders to a network of domain experts. Investing in this startup enables them to see the bigger picture and fuels their early stage aspirations.