CrossCountry Mortgage and Blend Introduce Joint Solutions to Simplify Loan Origination

CrossCountry Mortgage and Blend Introduce Joint Solutions to Simplify Loan Origination

othifinance.com   May 30, 2025   Comment  

SAN FRANCISCO - CrossCountry Mortgage, the nation’s number one distributed retail mortgage lender, and Blend, a leading origination platform for digital banking solutions, today announced an expanded partnership aimed at driving innovation for independent mortgage banks (IMBs).

As part of this collaboration, the two companies are introducing new solutions that enhance the Blend experience for all IMBs.

"We’re proud to partner with Blend to develop purpose-built solutions and advanced tools that empower our loan officers to better serve borrowers," said Jennifer Stracensky, Chief Operating Officer, CrossCountry Mortgage. "By working together to develop solutions like branch-level configurability and seamless disclosures within Blend, we’re not just optimizing our own operations—we’re helping set a new standard for the home lending process, making it easier and more accessible for borrowers and communities across the U.S."

These tailored solutions reinforce Blend’s commitment to empowering IMBs with purpose-built technology that support their need to compete and thrive in an evolving mortgage landscape, ultimately benefiting home buyers with faster, more efficient services.

Blend Strengths Support for IMBs with A Seasoned Leader & Dedicated Business Unit

As part of Blend’s initiative to better serve the unique needs of IMBs, the company has launched a dedicated business unit focused on delivering tailored technology and support.

Leading this effort is Justin Venhousen, a mortgage industry veteran and newly appointed General Manager of Blend’s IMB Division. Prior to joining Blend, he spent more than 12 years at Compass Mortgage as Chief Operating Officer, where he experienced firsthand the challenges IMBs face, from operational pressures to the need for greater branch-level flexibility.

“Having spent more than a decade at a mortgage lender, I’ve experienced the challenges our customers face firsthand,” said Venhousen. “I understand the operational pressures and the importance of supporting branch-level efficiency within a compliant framework. That perspective helps guide our approach as we design technology solutions that are adaptable, scalable, and built to support the way IMBs operate—while maintaining consistency and control across the organization.”

Blend’s IMB-Focused Enhancements in Partnership with CrossCountry Mortgage

Newly developed enhancements—some already live at CrossCountry Mortgage and others launching in early 2025—include:

• Branch-Level Configurations – New branch- and LO-level configurations allow CrossCountry to tailor workflows, branding, and operational settings at the branch level, while maintaining consistency across their 7,000 employees and more than 700 branches nationwide.
• Increased Disclosure Functionality for Loan Officers - Enables loan officers to generate Loan Estimate disclosure packages directly within Blend’s interface, streamlining workflows and reducing the need to use multiple systems or manual processes.
• Enhanced Hybrid Closings – New safeguards ensure borrowers complete all eligible paperwork digitally, reducing reliance on wet signatures. Improved eSign document visibility and a one-click download feature simplify retrieval, accelerating closing times and minimizing administrative work.
• Rapid Refi / Home Equity - A highly personalized, automated experience that turns refinance opportunities into funded loans faster by leveraging connected data and pre-approved offers for a seamless, one-session process.

A Leader in Digital Origination

In 2024, Blend powered nearly $1.2 trillion in loan applications across hundreds of banks, credit unions, and independent mortgage banks (IMBs). According to 2023 HMDA data, 18 of the top 50 U.S. mortgage originators by loan volume rely on Blend. In addition, 7 of the top 10 home equity lenders use the Blend platform to improve the digital customer experience across their home equity products.

About CrossCountry Mortgage

CrossCountry Mortgage (CCM) is the nation’s number one distributed retail mortgage lender with more than 7,000 employees operating over 700 branches and servicing loans across all 50 states, D.C. and Puerto Rico. Our company has been recognized ten times on the Inc. 5000 list of America’s fastest-growing private businesses and has received many awards for our standout culture. We offer more than 120 mortgage, refinance and home equity solutions — ranging from conventional and jumbo mortgages to government-insured programs from FHA and programs for Veterans and rural homebuyers — and we are a direct lender and approved seller and servicer by Freddie Mac, Fannie Mae and Ginnie Mae (NMLS #3029). Through our dedication to getting it done, we make every mortgage feel like a win.

About Blend

Blend Labs Inc., (NYSE: BLND) is the leading origination platform for digital banking solutions. Financial providers— from large banks, fintechs, and credit unions to community and independent mortgage banks—use Blend’s platform to transform banking experiences for their customers. Better banking starts on Blend. To learn more, visit blend.com.

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Elon Musk Contradicts Telegram’s $300M xAI Partnership Announcement: ‘No Deal has Been Signed’

Elon Musk Contradicts Telegram’s $300M xAI Partnership Announcement: ‘No Deal has Been Signed’

othifinance.com   May 30, 2025   Comment  

Foto : Elon Musk, Shuttertstock/Frederic Legrand

American billionaire entrepreneur and Tesla boss Elon Musk stated that no formal agreement has been signed between his AI venture, xAI, and messaging platform Telegram regarding the integration of Grok AI on the private messaging app, contradicting earlier remarks from Telegram CEO Pavel Durov.

On Wednesday, Durov announced that Telegram would integrate Grok, xAI’s chatbot, across its social platform and receive a share of the revenue. He said the partnership included a $300 million cash-and-equity package and 50% of xAI subscription sales made through Telegram.

“No deal has been signed,” Musk replied to Durov’s post on X. Telegram’s chief later confirmed Musk's statement, claiming that the agreement was reached in principle pending final documentation.

Following a wave of positive developments, Toncoin, the network’s native token, surged 18.7% to $3.55 on Wednesday, before pulling back to $3.35 after Musk’s clarification, per The Block’s price page.

Durov shared the announcement shortly after news of Telegram’s plans to raise $1.5 billion through a new bond issuance. Telegram will repurchase debt issued in 2021 using the fresh cash. The sale, reported by The Wall Street Journal, would allow participation from new investors, such as Citadel, and existing backers, including BlackRock and Abu Dhabi-owned investment firm Mubadala.

What is Stargate Finance? Stargate STG Explained

What is Stargate Finance? Stargate STG Explained

othifinance.com   May 29, 2025   Comment  

Stargate Finance Introducing

Stargate Finance is a decentralized finance (DeFi) protocol that was launched in 2022 to address the challenges of interoperability and liquidity fragmentation across various blockchain ecosystems. The core objective of Stargate is to create a unified, cross-chain liquidity pool that enables efficient and cost-effective token transfers between different blockchain networks.

The need for cross-chain interoperability has become increasingly evident as the cryptocurrency and DeFi landscapes have continued to diversify, with numerous blockchains, such as Ethereum, Solana, Avalanche, and Polygon, each offering their own unique features and use cases. However, the lack of seamless integration between these blockchain networks has resulted in fragmented liquidity, higher transaction costs, and friction for users who need to move their assets across different chains.

Stargate Finance aims to address these challenges by providing a robust and scalable solution for cross-chain asset transfers and liquidity management. By leveraging advanced cryptographic techniques and a decentralized architecture, Stargate seeks to create a more connected and efficient DeFi ecosystem, where users can seamlessly access liquidity and move their digital assets between different blockchain networks.

Key Features and Functionalities of Stargate Finance

Cross-Chain Liquidity Pools: At the core of Stargate Finance is the concept of cross-chain liquidity pools. These pools aggregate liquidity from various blockchain networks, allowing users to swap tokens between different chains with low slippage and minimal transaction fees. The initial version of Stargate supports transfers between Ethereum, Avalanche, Polygon, Optimism, and Arbitrum, with plans to expand to additional chains in the future.

Instant and Secure Token Transfers: Stargate's cross-chain token transfer functionality enables users to move their digital assets between supported blockchains quickly and securely. Unlike traditional cross-chain bridges, which can involve lengthy waiting periods and higher risks, Stargate's instant token transfers are facilitated through a combination of advanced cryptographic techniques, including Optimistic Rollups and Turing-complete smart contracts.

Unified Liquidity Management: Stargate's cross-chain liquidity pools provide a unified interface for managing liquidity across multiple blockchain networks. Users can contribute liquidity to these pools, earning trading fees and other rewards in the process. The protocol's liquidity management system is designed to be efficient, scalable, and resilient, ensuring that liquidity is always available for users to access.

Decentralized Governance and Incentives: Stargate Finance is built on a decentralized governance model, where the protocol's key decisions and upgrades are made by the community of STG token holders. The STG token serves as the governance token and also enables users to participate in the protocol's liquidity mining and staking programs, earning rewards for their contribution to the network.

Composability and DeFi Integrations: Stargate Finance is designed to be highly composable, allowing it to integrate seamlessly with other DeFi protocols and applications across different blockchain networks. This enables users to leverage Stargate's cross-chain liquidity and transfer capabilities within their existing DeFi workflows, unlocking new opportunities for cross-chain collaboration and innovation.

What Does the Future Hold for Stargate Finance?

As they say, impersonation is the best blandishment. Stargate Finance has no deficiency of copycats, like Stargate Finance or on the other hand Stargate Finance DEX. All things considered, Stargate Finance 's open-source code is not difficult to duplicate and somewhat change. Nonetheless, later beginning commitments of higher liquidity yields, they collapsed while Stargate Finance remained steadfast.

Unfortunately, Stargate Finance's principal hindrance came from Ethereum itself. The greatest shrewd agreement stage with more than $109B TVL is going through a change itself, from evidence of-work to completely verification of-stake agreement with the forthcoming Guide Chain consolidation. Accordingly, Ethereum gas charges have not been reasonable, to say the least.

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5 Important Money Management Tips for College Students

5 Important Money Management Tips for College Students

othifinance.com   May 29, 2025   Comment  

Illustration of college students. Image generated by AI.

Money Management Tips for students. It is definitely not easy to save and manage your finances in college while having to focus on your studies. The ability to navigate the financial complexities of college life is a crucial skill, often underemphasized in preparatory discussions.

We all want to learn money management and try to save money, even if it’s just a tad bit during college. Interested to know 5 best money management tips you students can do in college? Read along!

5 Money Management and Budgeting Tips for College Students You Must Know

1. Budgeting: The Keystone of Money Management

The first and most important money management tip in college is to create and adhere to a budget. Budgeting empowers students to prioritize their expenses, differentiate between wants and needs, and avoid the pitfalls of impulsive spending.

For example, if your college allowance is $1.500 per month, consider how much money you need for your daily needs, emergency funds, and how much to put into your savings account. To make it easier, write down your needs and the money needed.

2. Always Have Saving and Emergency Funds

College is an unpredictable journey, and financial emergencies can arise without warning. Make savings a habit in your money management journey; even if you can’t save a lot, small amounts matter, too.

This habit not only eases immediate financial stress but also instills lifelong financial discipline. You can make two accounts: one for spending and the other for saving to avoid over-spending money.

3. Take Advantage of Student Discounts

Being a student comes with plenty of perks, one of which is– student discounts! Almost every sector, whether beauty, subscriptions like Spotify, bookstores, gyms, restaurants, or cafes, offers special discounts for students.

To save yourself plenty of money, search for businesses that can offer you discounts. Are you looking for a hangout spot with your friends to study? Look for restaurants that offer student discounts.

Also, make it a habit to bring your student ID everywhere or take a picture of it in case you need to buy something and a student discount is available! Most businesses will verify your student status by asking for your student ID.

4. Learn About Financial Literacy

College is the perfect time to invest in financial literacy. Understanding the basics of investing, money management tips, the importance of credit scores, and the nuances of taxes prepares students for the financial realities of post-college life.

You can learn from your seniors or even online! There are plenty of resources available to you on how to save, manage money, and learn to invest. Remember that investing doesn’t always mean investing in cryptocurrency or stocks, but also investing in yourself!

5. Take a Freelance Job Opportunity

This last but not less important money management tip is taking a freelance job opportunity. If you notice that you have some spare time after or in between your studies, try taking a freelance job opportunity.

I understand that college can be tiring and busy, but as an ex-college student myself, the early and latest college days are the times when you have some extra free time to spare!

In addition, there are plenty of freelance remote opportunities online that you can find these days. So, you can work anywhere you are with flexible time. For example, if you are a Journalism major, you can look for remote content writing opportunities on job searching applications like Linkedin.

The money you earn from freelancing can be an extra income to your savings, and at the same time, you can build your portfolio!

US Trade Court Blocks Trump's Sweeping Tariffs. What Happens Now?

US Trade Court Blocks Trump's Sweeping Tariffs. What Happens Now?

othifinance.com   May 29, 2025   Comment  

Foto: Donald Trump (AP/Seth Wenig)

A US federal court has blocked President Donald Trump's sweeping global trade tariffs, in a major blow to a key component of his economic policies.

The Court of International Trade ruled that an emergency law invoked by the White House did not give the president unilateral authority to impose tariffs on nearly every one of the world's countries.

The New York-based court said the US Constitution gave Congress exclusive powers to regulate commerce with other nations, and that this was not superseded by the president's remit to safeguard the economy.

The Trump administration said it would appeal within minutes of the ruling.

Who brought the court case?

The ruling was based on two separate cases. The nonpartisan Liberty Justice Center brought one case on behalf of several small businesses that import goods from countries that were targeted by the duties, while a coalition of US state governments also challenged the import taxes.

The two cases mark the first major legal challenges to Trump's so-called "Liberation Day" tariffs.

A three-judge panel ruled that the International Emergency Economic Powers Act (IEEPA), a 1977 law that Trump cited to justify the tariffs, did not give him the power to impose the sweeping import taxes.

The court also blocked a separate set of levies the Trump administration imposed on China, Mexico and Canada, in response to what the administration said was the unacceptable flow of drugs and illegal immigrants into the US.

However, the court was not asked to address tariffs imposed on some specific goods like cars, steel and aluminium, which fall under a different law.

What has the reaction been so far?

The White House has criticised the ruling, though Trump has not yet commented directly.

"It is not for unelected judges to decide how to properly address a national emergency," White House deputy press secretary Kush Desai said in a statement.

"President Trump pledged to put America First, and the administration is committed to using every lever of executive power to address this crisis and restore American greatness," he added.

But Letitia James, the attorney general of New York, one of 12 states involved in the lawsuit, welcomed the decision.

"The law is clear: no president has the power to single-handedly raise taxes whenever they like," Letitia James said.

"These tariffs are a massive tax hike on working families and American businesses that would have led to more inflation, economic damage to businesses of all sizes, and job losses across the country if allowed to continue," she added.

Global markets have responded positively to the ruling. Stock markets in Asia rose on Thursday morning, US stock futures also jumped and the US dollar made gains against safe-haven peers, including the Japanese yen and Swiss franc.

What happens now?

The White House has 10 days to complete the bureaucratic process of halting the tariffs, although most are currently suspended anyway.

The case needs to go through the appeals process. If the White House is unsuccessful in its appeal, the US Customs and Border Protection Agency (CBP) will then issue directions to its officers, John Leonard, a former top official at the CBP, told the BBC.

That said, a higher court might be more Trump-friendly.

But if all courts do uphold the ruling, businesses which have had to pay tariffs will receive refunds on the amounts paid, with interest. These include the so-called reciprocal tariffs, which were lowered to 10% across the board for most countries and were raised to 145% on Chinese products, now 30%.

Mr Leonard said there would not be any changes at the border for now and that tariffs would still have to be paid.

Market reactions showed, partly, investors "exhaling after weeks of white-knuckle volatility sparked by trade war brinkmanship", Stephen Innes at SPI Asset Management wrote in a commentary.

Mr Innes said US judges gave a clear message: "The Oval Office isn't a trading desk, and the Constitution isn't a blank cheque."

"Executive overreach may finally have found its ceiling. And with it, a fresh dose of macro stability – at least until the next headline."

Paul Ashworth, from Capital Economics, said the ruling "will obviously throw into disarray the Trump administration's push to quickly seal trade 'deals' during the 90-day pause from tariffs".

He predicted other countries "will wait and see" what happens next.

How did we get here?

On 2 April, Trump unveiled an unprecedented global tariff regime by imposing import taxes on most of the US's trading partners.

A 10% baseline tariff was placed on most countries, along with steeper reciprocal tariffs handed down to dozens of nations and blocs, including the EU, UK, Canada, Mexico and China.

Trump argued that the sweeping economic policy would boost American manufacturing and protect jobs.

Global markets have been thrown into disarray since the announcement and later after Trump's reversals and pausing of tariffs as foreign governments came to the negotiating table.

Adding to the turmoil was a prolonged trade war with China, as the world's two economic superpowers engaged in a back-and-forth raising of tariffs, which reached a peak with a 145% US tax on Chinese imports, and a 125% Chinese tax on US imports.

The world's two biggest economies have since agreed to a truce, with US duties on China falling to 30%, and Chinese tariffs on some US imports reducing to 10%.

The UK and US have also announced a deal on lower tariffs between the two governments.

Trump threatened a 50% tariff from June on all goods coming from the EU after expressing frustration with the pace of trade talks with the bloc - but then agreed to extend the deadline by more than a month after EU Commission chief Ursula von der Leyen said more time was needed.

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Tempus AI Stock Sinks Following Spruce Point Short Report

Tempus AI Stock Sinks Following Spruce Point Short Report

othifinance.com   May 28, 2025   Comment  

Shares of Tempus AI (NASDAQ: TEM) tumbled 4% after the company was targeted in a short-seller report by Spruce Point. The report raised serious concerns about the integrity of Tempus AI’s product, the credibility of its management, and its financial reporting practices.

The Spruce Point report, which follows a forensic review of the precision medicine solutions company, criticized Tempus AI for the minimal revenue generated from its AI Applications product line, suggesting a disconnect between the company’s branding and its financial reality. In 2024, AI-related revenue was reported to be just $12.4 million, less than 2% of the company’s total revenue of $693.4 million. The prior year, AI revenue was only $5.5 million.

Moreover, the report highlighted concerns over Tempus AI’s leadership, noting CEO Eric Lefkofsky’s history with companies that experienced financial scandals, including bankruptcies and restatements. It also questioned the company’s partnerships and joint ventures, suggesting potential round-tripped sales and related party deals.

The report further scrutinized Tempus AI’s billing practices, indicating aggressive use of billing code 81479, known for minimal oversight and a high risk of abuse. This tactic could inflate revenue at the expense of patient care, with the report suggesting that Tempus AI and its acquired entity, Ambry, may prioritize revenue over clinical necessity.

In conclusion, Spruce Point warned investors of the company’s reliance on perceived equity value, aggressive accounting, and unsustainable practices. They projected a 50% – 60% potential downside risk to Tempus AI’s share price, advising extreme caution and close scrutiny of the company’s public statements. The sell-side consensus price target stands at $66.82 per share, which implies a mere 1% upside potential.

Investors reacted to the report by selling off shares, reflecting the market’s concern over the allegations made by Spruce Point.

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Gold Technical Analysis – Consolidation Ahead of the Next Big Move

Gold Technical Analysis – Consolidation Ahead of the Next Big Move

othifinance.com   May 27, 2025   Comment  

Gold is consolidating as the market awaits the next key catalyst to trigger a breakout. What’s next?

Fundamental Overview

As the market finished to reprice the interest rates expectations for the Fed and got back in line with the central bank’s baseline scenario of two rate cuts in 2025, the pressure on gold waned and the precious metal started to climb up again.

Last Friday, Trump’s threat of imposing a 50% tariff on EU on June 1st because of slow progress on trade negotiations boosted gold, but as things improved and the tariffs got delayed to the original deadline in July, gold erased all the gains.

In the bigger picture, gold remains in an uptrend as real yields will likely continue to fall amid Fed easing. But in the short-term the repricing in rate cuts expectations could weigh on gold, so watch out for the economic data and Fed comments.

For now, we are stuck in a big consolidation as the market awaits the next key catalyst to trigger a breakout and a more sustained trend.

Gold Technical Analysis – Daily Timeframe

Gold Daily

On the daily chart, we can see that gold rejected the downward trendline that’s been defining the correction. That’s where the sellers stepped in with a defined risk above the trendline to position for a drop back into the major upward trendline. The buyers, on the other hand, will want to see the price breaking higher to increase the bullish bets into a new all-time high.

Gold Technical Analysis – 4 hour Timeframe

Gold 4 hour

On the 4 hour chart, we can see that we had a minor upward trendline defining the bullish momentum on this timeframe. The price broke below the trendline today and the sellers started to pile in for a bigger pullback into the 3278 level. That’s where we can expect the buyers to step in with a defined risk below the level to target a break above the major downward trendline.

Gold Technical Analysis – 1 hour Timeframe

Gold 1 hour

On the 1 hour chart, there’s not much else we can add here as the sellers remain in control for now and from a risk management perspective, the buyers will have a better risk to reward setup around the 3278 level. The red lines define the average daily range for today.