MortgageIT Holdings, New York, a residential mortgage REIT, has issued $50 million of trust preferred securities in a private placement.The floating rate TPS bear a variable interest rate of 360 basis points above 3-month LIBOR, paid quarterly. The TPS will mature in 2036 and are redeemable at par after five years. MortgageIT said proceeds will be used to support strategic initiatives and the expansion of the company's national loan origination platform.
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.
Lisa Cook can keep her seat on the Federal Reserve Board thanks to the Supreme Court's procedural concerns. Deeper questions about the central bank might not come for years — if at all.
Priority Financial Network CEO Marc Shenkman allegedly told a former employee to "keep his resume out there" because he planned to get Lendwise shut down.