Subject Root Tag

The REIT issued its second securitization of the year in June, while also purchasing or locking $50 million in newly originated loans.

Product availability for July remained at levels last seen in 2013 as rates briefly broke above the 7% mark during the month, the Mortgage Bankers Association said.

The Agency, a brokerage with a leading role in a Netflix show, names New American Funding their preferred mortgage provider, stripping that title away from CrossCountry Mortgage.

The group represents the fourth class of startups in the history of the program and the first since the home lender's merger with New York Community Bank late last year.

Under settlements with the SEC, Wells Fargo and BNP Paribas will pay millions of dollars in penalties for employees using unofficial communications like WhatsApp. In all 11 firms agreed to pay penalties, while the CFTC took separate actions.

Firms that had ratings cut included M&T Bank, Webster Financial, BOK Financial, Old National Bancorp, Pinnacle Financial Partners and Fulton Financial.

The cohort is outperforming the broader market — up more than 50% year-to-date versus the S&P 500's 18% gain. 

The number of loan officers sponsored by the company has dipped by more than half to 169 originators from June to July, per NMLS. More are said to be leaving.

Denver-based Proprietary Capital, who offers a platform for institutional investors seeking returns from mortgage-related assets, agreed to purchase the New Jersey-based lender as it seeks to increase the number of opportunities it offers.

The real estate investment trust declined to comment on its bid to buy Western Asset Mortgage Capital, a company that received a sweetened competing offer from Terra Property Trust last week.

Negotiations are ongoing, but the legal move ends the restraining order trial in federal court scheduled for Aug. 14.

Lenders including Goldman Sachs Group Inc. and JPMorgan Chase & Co. have been trying to sell debt backed by offices, hotels and even apartments in recent months, but many are finding that tidying up loan books is no easy feat when concerns about commercial real estate have surged.

Lender Toolkit provides services to support ICE Mortgage Technology's Encompass platform, along with artificial intelligence software.

Radian and MGIC grabbed a larger portion of new insurance written during the period while maintaining pricing discipline.

The new technology expands the capabilities of automation used to obtain digital transcript information from self-employed borrowers.

Companies that don't use the technology on average pay $1.76 million more and take 108 days longer to respond to incidents than firms that utilize it.

The board of the Home Loan Bank of San Francisco chose not to renew Teresa Bryce Bazemore's contract that ends in 2024, and has initiated a search for a new CEO.

The alleged scam targeted elderly Vietnamese-American homeowners in California and fooled banks into distributing illicit funds to the perpetrators.

Nonbank brokers and lenders typically scale back after the spring homebuying season and the housing market could be particularly slow for the rest of this year.

The turnaround was due to a $42 million positive servicing mark. Even with the operating loss, it beat estimates.