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 »
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 »
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 »
New residential construction in the US rose in March to the highest level in more than a year as homebuilders boosted production despite ongoing affordability concerns. Processing Content Housing starts increased 10.8% to an annual pace of 1.5 million homes in March, the highest since December 2024, according to figures released Wednesday by the Census
Housing starts surge to highest level since December 2024 Read More »
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
Mortgage vet: 2026 will be ‘a very tough year’ Read More »
As the mortgage industry planned for 2026, it anticipated a strong purchase market, benefitting from a declining interest rate environment. Processing Content Early reports were lining up for a good spring homebuying season. In late February, several sources, including the Freddie Mac Primary Mortgage Market Survey, had the conforming 30-year fixed close to or under
2026’s Top Producers: numbers 100-51 Read More »
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
Newrez projects 15% cost cut via AI investments Read More »
Although mortgage rates dipped below 6% in February for the first time since 2022, home-price growth continued to slow, two new industry reports found. Processing Content More than half of the major metropolitan markets in the United States posted year-over-year price declines in February, while prices rose 0.7% nationally, according to the S&P Cotality Case-Shiller
Inflation outpaces home-price growth for 9th straight month Read More »