Finance

The deal appears to take advantage of a shift in federal rules reducing the level of non-owner-occupied loans Fannie Mae and Freddie Mac can purchase.

Even as lenders increased purchase share, higher expenses and margin compression related to pricing competition led to smaller quarterly net gains.

The digital provider of commercial mortgage closing documentation hired a Guaranteed Rate executive and announced plans to add staff and integrate more loan operating systems.

The proceeds from the trust’s certificates will refinance some CMBS debt, among other balance sheet uses.

Revenue at the fintech company grew from prior periods without even taking into account any contributions from the Title365 acquisition at the end of the quarter.

Refinancing, high home prices, the concentration of pandemic-related hardships in the FHA market, and the lingering impact of last year’s market disruption all likely played a role in the intensified discrepancy.

The lending technology provider currently has 37,741 decisioning steps or pivot points on its platform.

The home purchase target for Fannie Mae and Freddie Mac would set a new 10% benchmark for qualified single-family lending in census tracts that meet certain demographic and income targets.

The wholesale lender has a cost structure aimed at beating the competition in a rising rate environment, Chairman and CEO Mat Ishbia said on the second quarter earnings call.

Depressed margins and a $219 million hit to its servicing rights fair value translated to a lower bottom line at the wholesaler.