Final bids are due next week on a $1.7 billion portfolio of non-performing second liens, according to a senior executive who's involved in the auction. He said four bidders have been picked with a finalist set to be chosen by week's end. The portfolio, he said, includes "closed-end, seasoned charge-offs." Depending on the underlying collateral, NPL seconds typically sell for less than 10 cents on the dollar.
Technology and customer service were the two largest categories within operational expenses last year, according to the Mortgage Bankers Association.
Bright partnered with real estate data and analytics platform HouseCanary to deliver exposure on Google at no additional cost or operational efforts.
The move may have been related to the government-sponsored enterprise's duration gap but could also have resulted from many other considerations.
The lawsuit is the third against a California-based mortgage company this month after revelations of another early-2026 incident at a wholesale lender.
The Bank of International Settlements compared the recent AI investment frenzy to the canal mania of the 1830s, the British railway craze of the 1840s and the dot-com boom of the late 90s.
Fake jumbo mortgages are helping non-agency securitization growth, but these loans could have higher than expected delinquency rates, an analysis said.
