Finance

Zigg Capital led the Series B raise for the West Coast-based digital platform, which was founded by former employees of Freddie Mac and Palantir.

The government-sponsored enterprise will now accept a written opinion from an attorney in lieu of a policy for some transactions.

Originators offered fewer high loan-to-value and lower credit-score products, but jumbo offerings increased for the 10th time in 12 months, the Mortgage Bankers Association said.

Solar loans with balances of $5,000-$125,000, and Home Efficiency Loans, which have balances ranging from $1,000-$100,000, make up the bulk of the asset pool.

Minutes of the Federal Reserve's March meeting released Wednesday also showed that “many” officials viewed one or more half-percentage-point rate increases could be appropriate going forward if price pressures fail to moderate.

Secured by a single Morgan Stanley first-lien mortgage, the SFR is the largest deal since the program priced its $2 billion transaction in July 2021.

The move could help expand the use of a program intended to aid underserved renters.

The move would align the Federal Housing Administration with other agencies, including Fannie Mae, Freddie Mac, the USDA, and the National Credit Union Administration.

Following steep quarterly and annual losses, executives were optimistic that new revenue estimates are achievable in a rising interest rate environment, especially as customers transition to the Blend Title platform from Title365.

Now that rates are up and originations are down, mortgage servicing rights can be an increasingly important source of cash and customers for lenders.