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March 2026

Mortgage pool attached to Deephaven secures $296.2 million in RMBS

Non-QM, RMBS, Securitization /

A large pool of mortgages on investment residential properties will secure $296.2 million in residential mortgage-backed securities (RMBS) through the transaction named DRMT 2026-INV2. Processing Content RCF III TRS is the deal’s sponsor and Deephaven, which focuses on originating and acquiring non-traditional home loans. Selene Finance will service the entire pool, which also received third-party […]

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Summit lays off dozens in wake of CrossCountry deal

Industry News, Layoffs, M&A, Originations /

Shortly after announcing a merger agreement with retail lender CrossCountry Mortgage, Summit Funding said it will permanently eliminate 163 positions across the company.  Processing Content The Sacramento, California-based home lender informed state officials in a mandatory Worker Adjustment and Retraining Notification filing dated March 19, just one day after the merger was officially announced. The

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AEI panel: GSEs have never paid for their guarantee

Capital markets, Mortgages, Politics and policy, Secondary markets /

The Trump administration has promised to keep Fannie Mae and Freddie Mac’s implicit government guarantee in any immediate plans for them, but not everyone agrees it should be taken for granted. Processing Content A panel of government-sponsored enterprise reform veterans who saw Fannie and Freddie go into conservatorship back in 2008 reminded attendees of this

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Mortgage rates now at highest point since September

Economy, Marketing, MARKETING TO BORROWERS, Mortgage Rates, Mortgages, Originations, Politics and policy /

The 10-year Treasury yield continued its wild movements based on alternating headlines on the Iran conflict, but as a result mortgage rates ended the week 16 basis points higher, Freddie Mac found. Processing Content The 30-year fixed rate mortgage reached 6.38% for March 26, up from an average of 6.22% one week earlier, the Freddie

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Lenders: Chase affordability gains before rates climb further

MARKETING TO BORROWERS, Mortgage Rates, Mortgages, Originations, Underwriting /

February’s low mortgage rates, when the 30-year fixed fell below the 6% mark, helped to improve homebuyer’s ability to afford the payments on their purchase, the Mortgage Bankers Association found. Processing Content During the month, lenders were offering loans priced under 6%, with the industry average at 5.98% for the week of Feb. 26, according

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Pulte makes new fraud allegations against New York AG James

FHFA, Fraud /

Federal Housing Finance Agency Director Bill Pulte has sent letters to the Department of Justice encouraging prosecutors to open new fraud investigations into New York Attorney General Letitia James related to real estate.  Processing Content Pulte wrote separately to the US attorneys for the Southern District of Florida and Northern District of Illinois in letters

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Rates Ease Despite Conflicting Iran War Headlines

Uncategorized /

The past 24 hours have seen multiple news stories with seemingly contradictory updates regarding the state of the Iran war. There’s a ceasefire. There’s no ceasefire. There’s negotiation. There’s no negotiation, etc. As far as the rate market is concerned, the most important development has been the general appearance of a shift toward diplomacy and

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Condo lenders push back on Fannie, Freddie rule changes

Condos and HOAs, Mortgages, Politics and policy, Secondary markets /

The mortgage industry has generally supported Fannie Mae and Freddie Mac’s more flexible roof insurance requirements for all single-family mortgages, but some condo market stakeholders have questioned certain other changes announced alongside it. Processing Content First flagged by a community lenders group shortly after the insurance rule-change came out, there have been a growing number

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Apollo’s insurance arm vaults to second-biggest FHLB borrower

FHLB /

Apollo Global Management Inc.’s insurance arm was the second-biggest borrower last year in the Federal Home Loan Bank system, a Depression-era program designed to shore up mortgage lending that has morphed into a go-to — and controversial — source of cheap financing for banks and other financial institutions. Processing Content Athene Holding Ltd. owed the FHLB $23.3

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