Reunion Mortgage, Milpitas, Calif., has pulled out of Florida, abruptly closing its wholesale office there. A company official confirmed the shutdown to MortgageWire. "Yes, we're closed, as of today," he said. He declined to say why. Reunion opened its wholesale office in Tampa two years ago. A company official at the lender's California headquarters did not return a telephone call about the matter. Reunion, according to its website, has 100 employees. The company is almost 10 years old and focuses mostly on wholesale lending.
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New York Life's investment arm is buying a majority stake in Verus' parent, as higher rates draw insurers to non-QM. Lenders should expect deeper-pocketed buyers and competition.
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The agreement expands the top-5 bank servicer's relationship with the technology company, claiming it brings its full portfolio to the MSP platform.
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The typical mortgage company is well behind the average fintech, insurance company and bank in terms of AI development and maturity, according to a new survey.
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Federal Reserve Gov. Michael Barr said artificial intelligence has not yet had a material impact on the labor market, but governments and businesses should be prepared nonetheless.
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DRB Group is partnering with Acrisure Mortgage and Alta Home Lending to start two mortgage joint ventures set to open in January 2027, the company announced.
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Servicers may need to use some of their less common risk management tactics rather than solely relying on borrowers holding significant equity, Andy Walden said.
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