The memo also reveals the board has hired an independent third-party firm to “do a leadership and cultural assessment” of the originator.

A public company, Aurora, meanwhile, filed no notice with the SEC on Garg’s departure.

In 3Q21, Fannie, Freddie and Ginnie securitized $77.94 billion of agency-jumbo loans made to borrowers in high-cost markets, a 3.9% decline from the previous period.

On paper, Better.com is worth more than PennyMac Financial Services, but will investors buy that argument?

Regarding the apology, one human resources executive said Garg’s new email is “too little, too late. I think Garg now realizes he made a tragic mistake.”

Redwood recently issued a jumbo MBS sized at roughly $1.0 billion, while the new offering from the nonbank is somewhat smaller.

Better.com still hopes to go public via a special purpose acquisition company maneuver...

FHFA should use its authority to constrain GSE acquisitions of high-balance mortgages, according to Redwood Trust.

FHA volume was incrementally higher in November, while deliveries of VA, Native American and rural housing loans were lower.

MBA says the system issues have caused significant delays and imposed costs on state-licensed companies.