It looks as though reverse mortgage pitchman Robert Wagner (of âIt Takes a Thiefâ TV fame) is out on the streets after his employer, Reverse Mortgage Network, pulled the plug on its HECM origination program. A source familiar with the matter tells us that RMNâs owner thought it had a deal to sell the company but the buyer recently backed out. The full story will be on the National Mortgage News website later today...
Even with the positive news when it came to income, two of the big four underwriters had their earnings outlook slashed, while a third received an upgrade.
AD Mortgage's news survey finds 82% expect AI to transform the industry, and relationship skills will decide who wins in 2027.
An acquisition this year could be one in a line of other future deals, potentially involving lenders or commercial real estate firms, Ellington executives said.
If the deal is completed, the companies will form the sixth-largest publicly traded homebuilder in the U.S. with about $6.6 billion in combined revenue.
Fannie Mae and Freddie Mac's oversight chief said that he's displeased with a report that these builders have retreated from serving first-time buyers.
The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.
