While the Mortgage Grapevine is a place where mortgage originators can post all of their hard to fund transactions in an attempt to find a funding source, a recent post might be the most difficult of all.
A poster using the handle “Dantheman00” is reportedly looking for a stated income loan for a property purchase. For those with short memories, misuse of stated income loans, a.k.a. liar loans, was one of the prime causes of the meltdown.
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Alongside its cloud-based brokerage, the company said the acquisition will transform eXp's existing infrastructure into a multi-model platform.
The opinion that supports national banks' ability to avoid paying interest on certain mortgage accounts in New York is unlikely to be the last word.
The latest offer, 70 cents per share higher than previously agreed to, equals the cash proposal made by UWM Holdings to win over Two Harbors' shareholders.
Employers hired an additional 115,000 workers in April, while unemployment remained unchanged at 4.3%. Despite the positive headline figure, a spike in newly unemployed workers and a rising number of underemployed workers suggests instability under the surface.
These originators had the highest combined volume of Federal Housing Administration, Veterans Affairs and U.S. Department of Agriculture mortgages last year.
Rocket Cos. fell just $200 million short of United Wholesale Mortgage in Q1, as servicing recapture from its massive MSR portfolio fueled $44.7B in closed loan volume.
