MortgageIT Holdings Inc., New York, has filed a registration statement with the Securities and Exchange Commission for an initial public offering.MortgageIT Holdings will be the parent company of MortgageIT Inc., a New York-based mortgage banker. The units of MortgageIT include IPI Skyscraper (retail), MIT Lending (wholesale/correspondent), and MortgageIT.com. MIT Lending recently opened a subprime division, New Beginnings. MortgageIT Holdings expects to elect to take real estate investment trust status. A pair of residential lenders converting to public ownership are also taking the same route --New York Mortgage Corp., and HomeBanc Mortgage Corp., Atlanta.
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This was the second acquisition Luminate's mortgage arm has made since the start of 2025. The bank bought NJ Lenders Corp. in April of last year.
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The Mortgage Bankers Association lowered its refi expectations by 5% this month, as rising mortgage rates are dampening borrowers' positions.
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A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.
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A proposed seven-year mandatory selloff rule aimed at institutional investors was a factor in halting momentum for new BTR development, NAHB said.
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May's 15,855 actions are the least since September 2025, when Fannie Mae and Freddie Mac had 15,550 loans modified, forborne or otherwise dealt with, FHFA said.
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The government-sponsored enterprise oversight chief said his agency is focusing on select fees applied to mortgages that lenders sell to Fannie and Freddie.
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