Financial institutions

This is the third nonbank mortgage company offering in a row to decrease its size, but the reductions were more severe than the others.

The mortgage lender will promote its brand, products and services through MLB-related television or radio ads, in addition to digital outlets.

The Financial Stability Oversight Council could determine that a broad range of mortgage companies should be subject to “heightened prudential standards,” said Andrew Olmem, a partner at Mayer Brown and a former senior economic adviser to the White House.

The expected pricing range is between $19 and $21 per share if all 14.4 million shares to be offered are sold.

The company is following in the footsteps of Michigan-based rivals Rocket Cos. and United Wholesale Mortgage.

The estimates in the Bureau of Labor Statistics latest numbers were only marginally higher than the previous month, which may reflect more deliberate hiring and a preholiday slowdown.

The number of nonbank mortgage lenders who launched IPOs or merged with SPACs took off like a rocket in the second half of the year.

The switch to Thomas Cangemi from longtime CEO Joseph Ficalora could foreshadow a push to curtail the company’s reliance on multifamily lending and the pursuit of a bank acquisition that lowers funding costs.

Longtime chairman and CEO Joseph Ficalora will step aside Thursday as head of the regional bank and be succeeded by CFO Thomas Cangemi.

The nonbank lender is co-sponsoring a $258.4 million residential mortgage pool comprised entirely of wealthy borrowers with 15-year term contracts.

Even with a slight downward revision to September’s numbers, employment in the industry remained incredibly high through October as home-loan refinancing continued to surge.

Troubled Veteran’s Administration “no-bid” loans could bankrupt servicers in the near future, says Morgan Snyder of CAllc Research Publications.

A new report from California shows that less-regulated mortgage lenders may be doing a better than banks of serving Black and Latino homebuyers. But consumer advocates say the data bolsters the case for tougher supervision of nonbanks.

Gelt Financial looks to troubled sectors, including retail, for prospective deals.

The substantial Series D fundraise fuels speculation on whether Better.com will be the next mortgage company to hop on the IPO trend.

The draft IPO filing for its Class A shares follows speculation that it would follow the lead of Rocket Cos. and other nonbank lenders in going public.

Measures are needed to better address the next event-driven mortgage credit crisis that will likely occur when an even higher percentage of mortgage credit assets are owned by nonbank entities.

The statement comes after multiple small and midsize institutions earlier this year warned the agencies that the secured overnight financing rate was ill-suited to them.

The new record in third-party originator hiring numbers adds to indications that some lenders have been leaning harder on the wholesale channel to address capacity issues amid the origination boom.

The agency finalized a rule to determine which party in a loan sale is subject to regulatory requirements. Advocates charged that the move will help predatory lenders.