Finance

Net production income was down from its peak in the third quarter of last year, but it set a survey record for the period between January and March.

While there was a small uptick in missed payments for multifamily loans, the rate remained in the same area it's been at for the last year, according to the Mortgage Bankers Association.

The digital title insurance, closing, escrow, and recording services provider has now raised a total of $110 million in funding.

Federal Reserve Vice Chair Randal Quarles has made it clear that banks failing to make the transition away from the benchmark rate could face supervisory consequences.

The steady pace of refinance activity has also continued, as borrowers seek to take advantage of sub-3% rates.

The former senior vice president and credit officer takes over the role that Andrew Bon Salle left at the end of 2020.

DeVito takes over on June 1, replacing interim CEO Mark Grier, who returns to his seat on the government-sponsored agency's board.

The company, on the cusp of going public via a merger, recently added Wells Fargo to its client roster.

The cloud-based mortgage closing platform’s Series D round earned $150 million for the company.

The transaction goes a long way toward the company’s goal to amass MSRs with a total unpaid principal balance of up to $150 billion.

The company provides a secondary market outlet for its retail and wholesale lending corporate sibling as well as for small balance commercial loans.

Issuance of capital market instruments aimed at protecting one government-sponsored enterprise from distressed mortgage credit events staged a relatively quick rebound in 2020, a new Federal Housing Finance Agency report shows.

With little transitional disruption, the bigger players on the non-agency side could gain a hefty share of non-owner-occupied mortgage volume as a result of Fannie Mae and Freddie Mac’s caps on such purchases, a KBRA analysis finds.

The deal was constructed under Angel Oak’s social-bond framework, in which the firm intends to use the proceeds to help finance residential loans for underserved borrowers.

Companies in the government mortgage market that serves low income, entry-level buyers are facing higher forbearance rates and more financial strain than others, making homeownership increasingly unattainable as credit remains tight.

The newly public company expects a 20% overall loss in adjusted earnings this year.

Expansion of an existing translation clearinghouse is among steps that could be taken, the Mortgage Bankers Association suggested in a letter sent to the leaders of the House Financial Services Committee on Wednesday.

Guild announced the $196.7 million acquisition after reporting that it more than doubled its net income in the first quarter, compared to the last three months of 2020.

Despite a 1Q decline in origination volume, Chairman Mat Ishbia is optimistic for the second quarter, saying the company received 17,000 more submissions in April's higher interest rate environment than it had in February.

After massive fundraises and IPO rumors swirled, the originator and servicer announced it will merge with Aurora Acquisition Corp. and go public in the fourth quarter of 2021.