Castlelake plans to invest in up to $2 billion of newly originated residential mortgages sourced from Invictus Capital Partners.

Beeline Financial started operations in 2020 and has yet to turn a profit. The company is now publicly traded thanks to a transaction involving a distillery, with plans to boost non-QM lending by leaning on technology.

Moody’s affirms assessments on Redwood; Deephaven loosens DSCR underwriting; Dan Perl update; ARDRI acquires expanded-credit lender; new proprietary reverse mortgages from Mutual of Omaha Mortgage.

Brian O’Shaughnessy, the former co-CEO of Rama Capital Partners, launched ARDRI to provide a mix of the latest technology and customer-focused operations for non-QM mortgage brokers.

A change in FHA lending requirements could lead to more non-permanent residents using non-QM options.

Toorak Connect is an underwriting platform that uses artificial intelligence and machine learning to score loans based on risk. It has been used to underwrite more than $5 billion in business-purpose loans since its launch in 2022.

Brookfield to acquire majority stake in Angel Oak; Dominion Financial launches AI chatbots; Carrington Mortgage’s correspondent channel goes fully non-QM; Sachem Capital takes loss in 2024.

The correspondent share of nonconforming originations returned to the double digits in the fourth quarter of 2024. Though for the full year, correspondents lost market share.

The lender is seeing strong demand from borrowers and the secondary market for non-agency business purpose loans.

Homebuilder Lennar and First-Citizens Bank & Trust posted strong increases in originations of adjustable-rate mortgages.