Private equity

Fintechs are facing unique challenges in the pandemic. There might be a resurgence in funding on the horizon, but startups are looking to see what they can do now to weather the storm.

The private equity megalith's mortgage trust made a second-quarter net income of over $17.5 million and $85.2 million in core earnings.

Sellers are currently willing to concede discounts of around 5%, while bidders are hoping for about 20% off pre-pandemic prices. That estimated gap, which is likely wider in specific cases, has put a freeze on deals.

Terry Wakefield, a technology consultant who helped launch Fannie Mae's mortgage-backed securities business and form Prudential Home Mortgage, has died. He was 70.

Manufactured and modular home lender Tammac Holdings is using $60 million in debt and equity financing from its new majority owner to fund construction loans.

Lennar Corp. is selling a portion of its Rialto business to Stone Point Capital for $340 million, adding to Stone Point's holdings in the real estate and financial industries.

Billionaire Dan Gilbert's Quicken Loans Inc. outgrew almost every U.S. mortgage provider by unfurling technology like its online Rocket Mortgage platform faster than big banks.

DoubleLine Capital is embarking on a plan to originate and securitize mortgages, seeking to fill a niche that has traditionally belonged to banks and brokerage firms.

James Lockhart, former director of the FHFA, is replacing Wilbur Ross, who resigned when he became Commerce secretary, on the New Jersey company's board.