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Part of the proceeds will be used to pay down a credit facility, which is then being refinanced and the principal reduced.

Better's new COO Chad Smith, a seasoned veteran in home lending, discusses the strategies of the savviest mortgage professionals operating today and how his company is evolving in an unpredictable market.

KBRA says there is notable borrower equity in the properties collateralizing the mortgages, which is reflected in the weighted average original loan-to-value ratio of 71.7%.

May's falling interest rates as well as ongoing wage growth helped improve home affordability across borrowing segments and racial groups, the Mortgage Bankers Association said.

Heather Lovier, a veteran at the company with over two decades of experience, will be in charge of overseeing the entire homeownership experience within the organization.

A gauge of contract signings from the National Association of Realtors decreased 2.1% to 70.8 last month, the lowest reading in data going back to 2001, the group said Thursday.

But economists seem to differ on what the latest movement in mortgage rates means for the summer home sales business.

Michael Drayne, an industry consultant who previously served as a senior vice president of strategic planning and policy at Ginnie Mae, will join HPC in July.

Finance of America has $350 million of notes coming due next year and wants to trade them for $200 million of secured debt coming due in 2026 and $150 million maturing in 2029.

The pace of growth is more than double the recent historical average, adding further affordability hurdles for some homeowners.