The latest decision in the closely watched Cantero v. Bank of America case related to preemption of New York escrow rules supports the institution, but it’s unlikely to be the final say. Processing Content The ruling on remand in the U.S. Court of Appeals for the Second Circuit found that preemption should prevail because state […]
New Cantero escrow ruling backs preemption in split decision Read More »
CrossCountry Mortgage has equaled UWM Holdings’ $12 per share offer for Two Harbors Investment, an increase of 70 cents from the agreed to transaction. Processing Content Previously, the Two Harbors’ board rejected the latest entreaty from UWM. But the change likely reflects, among other things, the elevated Two Harbors stock price since this bidding war
CrossCountry raises its Two Harbors bid to $12 per share Read More »
Fannie Mae and Freddie Mac investors are underestimating the chances of a public market re-entry from the mortgage giants after a lull in chatter around the names, according to Mizuho’s Dan Dolev. Processing Content Dolev initiated both companies this week with buy ratings, citing a base case assuming a 30% chance that Fannie will exit
Fannie, Freddie’s latest bull says traders underpricing IPO odds Read More »
The day began on a fairly hopeful note for the mortgage market. During overnight trading hours, the bond market improved following a report regarding a peace framework sent to Iran by The U.S. When bonds improve, rates fall, all else equal. The gains were modest, but they allowed the average lender to set their first
Mortgage Rates Erase Early Improvement Read More »
Applications for government-guaranteed or insured mortgages made up almost one-third of the week’s volume for the period ended May 1, the Mortgage Bankers Association said. Processing Content Rates for these loans tend to be lower. The Mortgage Bankers Association only provides rate data for the Federal Housing Administration-insured loan, which averaged 6.12% for the week,
2026 Top Producers of government-guaranteed mortgages Read More »
Rocket Cos. came oh-so-close to reclaiming the top spot among mortgage originators in the first quarter. Processing Content The company, which acquired Redfin and Mr. Cooper last year, had closed loan volume of $44.7 billion. Its Detroit rival, United Wholesale Mortgage, ended the period with $44.9 billion. Pennymac trailed with $37 billion. But when asked
Rocket nearly tops UWM with $44.7B in recapture-driven volume Read More »
Carrington Mortgage Services will acquire Valon Mortgage and adopt the fintech’s servicing software to handle its book of Ginnie Mae loans, the firms said Thursday. Processing Content The deal will expand Carrington’s servicing portfolio by around 800,000 loans, according to a press release, marking yet another major industry play for servicing. Carrington said it’s buying
Carrington to acquire Valon Mortgage, use fintech’s software Read More »
President Trump signed new legislation this week aimed to facilitate mortgage lending and open up homeownership to members of Native American communities across the U.S. Processing Content Sponsored by members of South Dakota’s congressional delegation, the Tribal Trust Land Homeownership Act sets new timelines for the review and processing of mortgage applications involving properties on
Trump signs bill to expedite tribal mortgage lending Read More »
ReAlpha Tech Corp. is conducting layoffs claiming artificial intelligence is reducing the need for some employees. Processing Content The real estate technology company reduced its workforce, which includes full-time employees, consultants, temporary workers and independent contractors, by about 25% and consolidated select vendor relationships. Together, these moves will save the company roughly $2 million over
ReAlpha lays off 25% of employees, cites AI Read More »
Key insight: Advanced AI in financial services is no longer a question of if, but where. What’s at stake: Deployments abound, but questions of data provenance, resiliency and accuracy still remain. Forward look: Many banks are thinking about or putting in place data warehouses that will help them ease the challenges of implementation and integration.
US Bank, CoBank, Rocket share AI use cases at AWS event Read More »