Mortgage rates finally moved in a slightly more noticeable direction today, but the change was still inconsequential in the bigger picture. The average 30yr fixed rate in our index edged up a mere 2 hundredths of a percent from 6.55% to 6.57%, exactly matching the levels seen on August 6th. This leaves rates in the […]
Mortgage Rates Flat Ahead of Next Week’s High-Stakes Data Read More »
Cypress Loan Servicing received an assurance of discontinuance from Massachusetts Superior Court in Suffolk County after agreeing to pay $2 million to settle legacy allegations. The payment by the company, which previously operated as Rushmore Loan Management Services, will go toward a state penalty and borrower restitution. The court agreement calls for business practice change
Cypress Loan Servicing settles with Mass. AG for $2 million Read More »
Steven T. Kolyer, recognized as a leading securitization industry lawyer, has joined Cadwalader as co-head of its commercial real estate, collateralized loan obligation practice. Kolyer is based in New York and brings broad experience in securitizations, structured credit products, fund formation and finance, and in CLOS, both corporate and real estate, according to a statement
Kolyer joins Cadwalader as co-head of CRE, CLO practice Read More »
The national property tax delinquency rate accelerated last year, with data indicating potential emerging financial strain among some segments of mortgage borrowers. The share of property tax delinquencies across the U.S. increased to 5.1% in 2024, rising from 4.5% one year earlier, according to a new report from real estate data provider Cotality. The research
More homeowners struggle to keep up with property taxes Read More »
Pennymac is continuing to restructure its debt, pricing another offering this week. The correspondent leader priced $650 million of 6.750% senior notes due 2034 on Thursday. The company said it will use the proceeds to repay borrowings under its secured mortgage servicing rights facilities, other secured debt and general corporate purposes. The move follows two
Pennymac restructures more debt with $650 million offering Read More »
A takeaway from Blend Labs’ latest earnings is that, although it’s growing consumer banking broadly, the mortgage operations are the biggest investment theme in the short term, Keefe, Bruyette & Woods said. “The company’s expansion into consumer banking adds a new growth vector that should be synergistic with Blend’s mortgage client roster and positions the
Blend ‘turns corner’ and reduces GAAP losses in 2Q25 Read More »
The Trump administration is preparing to sell shares of Fannie Mae and Freddie Mac in an offering that could start as early as this year, according to a senior administration official. The plan could value the government-controlled mortgage giants at some $500 billion or more and would involve selling between 5% and 15% of their
Fannie, Freddie $30 billion IPO being weighed for this year Read More »
Union Home Mortgage is accusing a Georgia-based married couple of thwarting their noncompete agreement by taking confidential client information to her new employer. According to the complaint, Nathan Duce and Rachel Duce, who previously worked at UHM as a branch manager and loan officer respectively, took customer information from the Ohio-based lender and used it
Union Home Mortgage sues couple for trade secret theft Read More »
Loandepot has elevated two executives as it makes changes to its sales and originations divisions, part of an ongoing effort to return to profitability in the wake of disappointing second quarter results this week. Tom Fiddler is stepping up to take on the newly-created position of president of retail lending. Fiddler, who previously oversaw loan
Loandepot shuffles leadership in search for profit Read More »
The United States faces a pressing dual challenge: an aging population at risk of social isolation and a housing market that has struggled to keep pace with evolving care needs. Traditional senior housing models often separate rather than connect, leaving many older adults without meaningful community and compounding the emotional toll of aging. At the