JPMorgan Chase & Co., New York, has introduced a new brand of commercial mortgage-backed security called LDP, for "large diverse pools.""Each LDP transaction is expected to be at least $2 billion in size and will have a consistent core group of partners, although the exact mix of partners may vary from deal to deal," JPMorgan said. The first transaction is scheduled to come to market in February, and subsequent deals are planned on a quarterly basis. The company can be found online at http://www.jpmorganchase.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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