Island Mortgage Network Inc., Melville, N.Y., has entered into a gestation warehouse agreement (formally known as a mortgage loan purchase and sale agreement) with Prudential Securities Credit Corp., New York.The amount of the facility is $25 million. This is a new relationship for the company, and it is the first gestation line it has received, said Edward R. Capuano, president and chairman of IMN Financial Corp., the parent of Island Mortgage.
Over one-third of the Wolters Kluwer survey participants believe the next Fed move will be to boost short-term rates, but most expect one cut next year.
The National Association of Home Builders Remodeling Market Index for the second quarter posted a reading of 61, a one-point decline from the first quarter.
The new Mortgage Bankers Association research adds to debate over whether Fannie Mae and Freddie Mac should allow a less costly alternative to the tri-merge.
Wide regional variances appeared in housing-start activity in 2025, when the traditional leading builder markets all saw numbers decline by as much as 15%.
The bill, which passed with wide bipartisan support, will become law at midnight if President Donald Trump doesn't veto it.
Total application volume fell by over 13.000 units on a month-to-month basis, with declines in purchase and refinance activity, Keefe, Bruyette & Woods said.
