While its two mortgage banking segments made money during the second quarter, Redwood Trust lost $100.2 million for the period, related to businesses it is winding down. This compared with net income of $14.4 million in the first quarter and $13.8 million in the second quarter of 2024. The legacy investments are now its own […]
Redwood Trust’s mortgage businesses turn 2Q profits Read More »
zimmytws – stock.adobe.com With interest in home equity lending on the rise, ICE Mortgage Technology and Figure are rolling out tool enhancements for business customers aimed at expediting originations and attracting customers. Borrowers managing loans via ICE’s MSP servicing platform will be able to quickly apply for new home equity lines of credit and loans,
Tech providers zero in on home equity lending Read More »
The rise in home equity lending should continue through the end of next year as conditions feeding current growth in the product will drive the market, a new study from the Mortgage Bankers Association has found. In 2024, the total combined HELOC and outstanding home equity loan debt grew 10.3%, according to the MBA’s 2025
Home equity products set to grow in 2025, 2026, study finds Read More »
In 2023, Steve Thomas started a new correspondent lender, Futurewave Finance. His three decades in the mortgage industry include servicing as the senior managing director of mortgage capital markets at the Federal Home Loan Bank of Chicago, as well as time at Fannie Mae. From his time in the FHLB system, Thomas learned that community
Why Futurewave bets on bank-focused non-QM loans Read More »
Home equity investment platform Unlock Technologies announced it received a new multimillion dollar commitment to help support the expansion of its consumer financing contracts. The $250 million capital agreement with D2 Asset Management guarantees the purchase of originated products by the firm and doubles the amount of an initial deal the two companies signed last
HEI platform Unlock receives $250M in capital support Read More »
Rithm Capital’s investor lending operations will get a financial boost thanks to a new partnership to help fund the purchase of over $1 billion worth of loans. The New York-based real estate investment trust announced it had reached an agreement with an unnamed “large institutional investor” to fund the acquisition of up to $500 million
Rithm Capital inks $1.5B deal for investor loans Read More »
The share of mortgage loans with issues that could indicate fraud declined in the second quarter of 2025, although it is still above levels seen in the second half of last year, Fundingshield’s Wire Fraud Analytics report said. During the period, nearly 46.63% of transactions analyzed in an $81 billion residential, commercial and business purpose
Existing lender controls lacking to detect mortgage fraud Read More »
Mortgage lenders tightened their offerings in June in what could be a sign of greater difficulty for borrowers looking to get into a new home. New data from the Mortgage Bankers Association showed less credit on offer in June, the first decrease since late 2024. The trade group’s Mortgage Credit Availability Index, which tracks loan
Delinquency risk leads to less credit for borrowers Read More »
Lower gain on sale margins at JPMorgan Chase could be a negative sign for independent mortgage banker results in the second quarter, a Keefe, Bruyette & Woods report said. The drop in margins at both Chase and Wells Fargo came even as origination volume rebounded at both banks. It was up 44% from the first
Chase’s lower 2Q margins a negative for IMB earnings Read More »
A jump in refinance activity lifted mortgage lock volumes last month, but purchase numbers may hold more promise for lenders. Total lock volume in June came in 2.11% higher month over month, according to the latest data from Mortgage Capital Trading. Rate-and-term refinance activity provided much of the momentum with a leap of 9.89%, as
Surging rate-and-terms push lock volumes upward Read More »