A vulture firm founded by former Countrywide Financial Corp. president Stanford Kurland filed Friday to raise as much as $750 million in stock through an initial public offering. The company, PennyMac Mortgage Investment Trust, is a unit of the Kurland-led Private National Mortgage Acceptance Corp., or PennyMac, which invests in distressed mortgage assets. To date, though, PennyMac had made only one significant investment.
The fee hike, which also raises the cost of assumptions, is part of the House pay-as-you-go rules to support a proposed expansion of veterans benefits.
Homeowners accuse the home equity investment company of breaking the law for suggesting that its home equity investment product isn't a mortgage.
Mortgage fintechs are attracting investor attention and dollars with agentic AI processes in new origination-focused platforms and assistants.
The portfolio for sale contains hundreds of millions of dollars worth of reperforming loans that the government-sponsored enterprise co-marketed with Citigroup.
The S&P Cotality Case-Shiller home price index rose 0.8% year over year in April, while U.S. Federal Housing's index climbed 2%. Both indexes declined monthly.
While the nationwide purchase average declined nearly 3% in 2025, these costs rose in 23 of 50 states and the District of Columbia, a study from LodeStar said.
