Prestwick Mortgage Group, Alexandria, Va., is brokering the sale of servicing rights on a portfolio of $93 million of Freddie Mac home loans.The weighted average note rate is 5.994%, and the weighted average servicing fee is 25 basis points. The average loan balance is $180,237, with 25 months of average seasoning. Approximately 77% of the loans are backed by homes in Pennsylvania, and approximately 59% were retail originated. The bid deadline is May 16 at 5 p.m. EDT.
Rocket jumps first to raise 2027 conforming loan limits to $845,000, with Rate and CrossCountry matching; UWM's move still pending marking an early signal of IMB competitive positioning.
Sypher Capital Management announced the public launch of its new independent comparison site for bitcoin-backed loans and mortgages last week.
Consumer advocacy group Better Markets filed a lawsuit in federal district court Thursday claiming the Federal Reserve's top regulator coached bankers on how to comment on proposed capital rules in "secret meetings."
From higher immediate pricing to long-term impacts on the housing market, originators are assessing what the rise in the 10-year Treasury yield means.
Atlas VMS acquired CloseClear.ai to help lenders prevent post-appraisal GSE buybacks. The tech continuously matches active pipelines against live disaster maps to plug closing blind spots.
BTIG is predicting mortgage origination volume for loanDepot, PennyMac Financial Services, Rithm, Rocket Cos., and UWM Holdings combined will be 5% lower than the industry consensus for the third quarter.
