Loan Resolution Corp., Scottsdale, Ariz., said it has hired 50 new employees because demand for its short-sale services is skyrocketing. LRC said the new hires were added in the third quarter. The company also said it is relocating its headquarters to a larger 30,000 square foot space in another office building. "The explosive growth of our company is a direct result of the added demands from servicers," said company chief operating officer Travis Olsen.
This was the second acquisition Luminate's mortgage arm has made since the start of 2025. The bank bought NJ Lenders Corp. in April of last year.
The Mortgage Bankers Association lowered its refi expectations by 5% this month, as rising mortgage rates are dampening borrowers' positions.
A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.
A proposed seven-year mandatory selloff rule aimed at institutional investors was a factor in halting momentum for new BTR development, NAHB said.
May's 15,855 actions are the least since September 2025, when Fannie Mae and Freddie Mac had 15,550 loans modified, forborne or otherwise dealt with, FHFA said.
The government-sponsored enterprise oversight chief said his agency is focusing on select fees applied to mortgages that lenders sell to Fannie and Freddie.
