Former Sprout Mortgage CEO Accused of Money Laundering February 22, 2024 Paul Muolo Michael Strauss is accused of funneling roughly $27 million out of the company before its demise in the summer of 2023.Read More
Fix-and-Flip Industry Expects an Increase in Originations in 2024 February 22, 2024 James Dohnert Fix-and-Flip lender Kiavi says it has already seen a boost in its pipeline in the first six weeks of the year.Read More
Short Takes: Morgan Stanley Preps Non-QM MBS / New Reverse Chief for Fairway / NYCB Rebrands / New Mortgage Servicing Software February 22, 2024 James Dohnert NYCB takes on the Flagstar name across both brands.Read More
Redwood Posts Profit to Close Out 2023 February 21, 2024 James Dohnert Redwood Trust reported a $21 million profit in the fourth quarter that was attributed to the company’s push to boost its liquidity for 2024.Read More
Short Takes: dv01, Fitch Team for New Non-Agency RMBS Benchmarks / Premier Lending Adopts FICO Score 10 T / LoanCare Launches App / Habitat for Humanity’s CDFI Gets a Name Change February 21, 2024 James Dohnert The new partnership's benchmarks focus on the non-QM and prime-jumbo markets.Read More
Congress Seeks to Increase Transparency in CDFI Fund February 20, 2024 James Dohnert New legislation would establish an ombudsman’s office to assist financial institutions navigating the CDFI application process.Read More
Maxex Offers New Outlet for Agency-Eligible Loans February 16, 2024 James Dohnert Lenders can sell agency-eligible mortgages for investment properties and second homes on Maxex's platform.Read More
Short Takes: Government Servicing Effort at MISMO / Housing Activity Slows / How Do Escrows Work? / Ratings for RTL Securitization / Publishing Break February 16, 2024 Brandon Ivey FHA, VA, Ginnie Mae and USDA are working with MISMO on a new servicing dataset.Read More
Short Takes: Higher for Longer / Home Prices Increase / Homeowner Tenure Levels Off / HECM MBS From Ocwen February 15, 2024 Brandon Ivey Mortgage industry participants are making projections on when "higher for longer" turns in to rate cuts by the Fed.Read More
Agency-Eligible IPLs, Loans for Second Homes in Non-Agency MBS February 13, 2024 Brandon Ivey Issuance of non-agency MBS with GSE-eligible mortgages is picking up with new deals from Citi and Morgan Stanley.Read More
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