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Former Newrez CIO takes same position at Union Home Mortgage

Former Newrez CIO takes same position at Union Home Mortgage

CAREER & COMPENSATION, Career moves, Industry News /

Union Home Mortgage made another major hire this year, appointing a new chief information officer Tuesday. Processing Content Dino Lack, a 21-year veteran in the mortgage technology space, will lead Union Home’s efforts to improve the lending experience through advanced workflow automation and artificial intelligence integration, the company said in a press release. “We believe […]

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Figure partners with Credibly to expand SMB lending

Industry News, LOAN PRODUCTS, Mortgage technology, Originations /

Figure Technology Solutions announced its second partnership over the past month, this time with an AI-powered working capital company focused on expanding and democratizing access to financing for small- and medium-sized businesses. Processing Content The collaboration with Credibly will help Figure grow its presence in the SMB lending space, one of the company’s fastest growing

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Iran war fears push Angel Oak REIT to Q1 loss

Earnings, Industry News, REITs, Secondary markets, Securitization /

Despite ongoing growth in net interest income, economic concerns surrounding the Iran War contributed to a first-quarter loss for Angel Oak Cos.’ publicly traded real estate investment trust, company leaders said.  Processing Content The lender, which specializes in buying and selling non-qualified mortgages in secondary markets, posted a GAAP loss of $7.4 million in the

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Manufactured homes market set to hit $42.7 billion by 2031

Housing affordability, Housing markets, HUD, Industry News /

The manufactured housing market is expected to boom over the next few years, a new industry report found. Processing Content Mordor Intelligence expects the manufactured homes market size to expand from $28.5 billion in 2025 to $30.5 billion this year, and reach $42.7 billion by 2031 at a compound annual growth rate of 6.97%. This

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Largest lenders generate 20% of total mortgage volume

Housing markets, Industry News, Mortgages, Originations /

Half of all mortgage lending is dominated by just a handful of lenders, with 2025 trends showing improving business conditions, but a still-uneven recovery from the housing slowdown earlier this decade.  Processing Content The top five lenders produced a little more than 20% of total loan volume last year based on both unit and dollar

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Castlelake, Redwood form $8B jumbo mortgage venture

Capital markets, Industry News, Jumbo mortgages, M&A, Originations, Secondary markets /

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

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UWM’s Ishbia talks surprise partnership with past Rocket foe

Industry News, Mortgage brokers, Mortgage technology, UWM /

A lunch meeting between once bitter adversaries turned into a business agreement that few in the mortgage industry saw coming this week.  Processing Content Now aligned on the same side, United Wholesale Mortgage CEO Mat Ishbia and longtime Rocket executive Mike Fawaz raised eyebrows with their eye-opening new alliance that provides a big boost and

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Mortgage vet: 2026 will be ‘a very tough year’

Mortgage vet: 2026 will be ‘a very tough year’

Industry News, Originations /

After rising mortgage rates dampened the start to a once promising spring homebuying season, industry veteran Brain Hale expects struggles to continue throughout the rest of the year, and possibly into 2027. Processing Content Mergers and acquisitions have increased as a result, with notable moves including Rocket’s purchase of Mr. Cooper and Redfin, CrossCountry’s acquisition

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Newrez projects 15% cost cut via AI investments

Earnings, Industry News, Mortgage technology, Originations /

Recent technology investments have Newrez expecting significant expense reductions beginning this year, while prospects of mergers or a mortgage spinoff from parent Rithm Capital wane, according to company executives. Processing Content In their first-quarter earnings call, leaders at Newrez said savings benefits on the originations side should appear in the second half of 2026 after

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Flagstar pares back earnings outlook amid elevated CRE payoffs

Commercial banking, CRE, Earnings, Flagstar Bank, Industry News /

Key insight: Elevated payoffs and paydowns in Flagstar’s commercial real estate portfolio were driving factors in the bank’s decision to lower its earnings guidance for 2026 and 2027. What’s at stake: The bank is trying to remix its loan portfolio as part of a turnaround that involves reducing its historically high concentration in commercial real

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