Castlelake is forming a joint venture with Redwood Trust to purchase up to $8 billion of prime jumbo mortgage loans. Processing Content The partnership was designed to support the growth of Redwood’s Sequoia platform and give Castlelake, an investment firm specializing in asset-based private credit, programmatic purchasing power for the fully documented loans. Sequoia will […]
Castlelake, Redwood form $8B jumbo mortgage venture Read More »
Home affordability levels reversed course in March, with new monthly mortgage payments heading higher in tandem with interest rates and purchase amounts. Processing Content The median payment on new purchase-loan applications during the month accelerated 3.4% to $2,131 from $2,061 in February, according to the Mortgage Bankers Association affordability index. The latest number came in
Rising rates pushed mortgage payments higher in March Read More »
Key insight: The judge said the original complaint sought actual damages for Hispanic buyers steered into high-cost loans to buy undeveloped, flood-prone land. What’s at stake: The settlement provided no compensation to the buyers allegedly harmed and instead allocated $48 million for infrastructure and $20 million for law enforcement. Expert quote: “The court finds it
Judge blasts Colony Ridge settlement, declines oversight Read More »
Closing costs for a purchase mortgage transaction average 1.04% of the home sales price, but this can range from a low of just 39 basis points to a high of 3.06%, a report from LodeStar Software Solutions found. Processing Content On a dollar basis, the national average was $4,528 with a median home price of
Purchase mortgage closing costs dipped in 2025 Read More »
Mortgage rates ended their three-week slide, with the 30-year fixed moving 7 basis points higher as a primary benchmark for pricing loans remained elevated. Processing Content For the first time in a month, the 10-year Treasury yield moved over 4.4% on April 29. Other than that late March rise, the last time it was this
Mortgage rates rise on Iran standoff, FOMC meeting news Read More »
Intercontinental Exchange had more green shoots in its mortgage technology business to start the year, including a sizable gain in transaction revenue. Processing Content The ubiquitous software provider reported mortgage segment revenue of $539 million for the first quarter, building on the 3-year high it posted in the prior reporting period. Within that business, ICE
ICE sees transaction revenue surge in mortgage unit Read More »
You may have heard April 12-18 was the “best week” to list your house. That’s based on a report from Realtor.com. But now that it’s passed, you may be wondering if you missed your moment. Here’s the good news – you didn’t. Because the reality is, there isn’t just one perfect week to sell your
Is Late May the Best Time To List Your House? Read More »
Portfolio growth, a release of credit reserves and strong refinancing activity drove Freddie Mac’s first-quarter earnings up 27% from a year earlier. Processing Content Freddie earned $3.6 billion on a net basis, up from $2.8 billion the previous quarter and a year earlier. It acquired $43 billion in single-family refinances and $60 in purchase loans
Freddie Mac earnings surge on net interest income, credit release Read More »
Total debt-to-income ratios have risen beyond prepandemic levels and the trend is particularly pronounced for nonprime in the current K-shaped economy, according to a new TransUnion study. Processing Content While DTIs are below caps in the 28/36 rule corresponding to some mortgage lenders’ front- and back-end ratio limits, the increases — along with higher utilization
K-shaped economy amplifies rise in nonprime DTI ratios Read More »
For the fifth time in the past six years, the National Mortgage News Top Producers Survey results are headed up by a loan originator who produced over $1 billion. Processing Content Shant Banosian, president of Rate, did over $1.03 billion during 2025, with Mark Cohen of Cohen Financial just behind at $933 million. Furthermore, 29
2026’s Top Producers: numbers 50-1 Read More »