Saxon Capital Inc., a residential mortgage lending and servicing real estate investment trust based in Glen Allen, Va., has announced the pricing of a private offering of $150 million of senior notes due in 2014.The notes will bear interest at a fixed rate of 12%. The net proceeds will be used chiefly to acquire additional third-party mortgage servicing rights and whole loans in bulk, Saxon said. The REIT can be found online at http://www.saxonmortgage.com.
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.
