Mortgage lenders are getting creative to combat the housing affordability crisis fueled by rising interest rates, rolling out novel products and blending existing options to keep borrowers in the market.

Bayview Asset Management — which closed its acquisition of Guild Mortgage in November — rolled out a new program on Monday. Partnering with real estate startup Estately, the firm is combining a traditional mortgage with a land lease.

“We do a first mortgage that’s Fannie Mae-eligible, a first mortgage loan on just the house, and then Estately is going to buy the land underneath that house and do it on details ⇒

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