Investments

The deal was constructed under Angel Oak’s social-bond framework, in which the firm intends to use the proceeds to help finance residential loans for underserved borrowers.

The newly public company expects a 20% overall loss in adjusted earnings this year.

Stock prices for the four stand-alone MI companies have declined significantly since the start of May.

After massive fundraises and IPO rumors swirled, the originator and servicer announced it will merge with Aurora Acquisition Corp. and go public in the fourth quarter of 2021.

Altisource Portfolio Solutions’ bottom line took a larger hit in the first quarter compared to Q4 2020, causing the company to cut costs.

The company is formally launching a new “non-mortgage” unit that will provide small loans for home improvement projects.

The real estate investment trust has been buying residential business-purpose loans from the company since 2017.

The company, like many publicly-traded nonbanks, is looking for ways to address the downward pressure that a battle between two large competitors is putting on the wholesale channel’s profitability.

United Wholesale Mortgage set off a brawl in the press when it forbade brokers from doing business with Rocket and Fairway. As a small group of brokers pursue legal action over the ultimatum, experts weigh in on whether the spat is benefiting the wholesale channel.

After the spinoff and a concurrent private sale to Bayview Asset Management, Genworth Financial will still own 80% of the rebranded Enact.