A Michigan appeals court judge affirmed that UWM’s move to compel arbitration in a dispute with a former employee was seven months too late.

The Ellington Financial affiliate is ditching agency MBS to become a registered closed-end fund with a focus on CLO investments.

The postponement comes just weeks after Congress passed a short-term extension of the flood insurance program’s authorization.

On an annual basis, the holdings increased by 3.2%.

Ellington Residential Mortgage REIT will rename and shift focus to investing in collateralized loan obligations.

The plaintiffs, property investors Cassaforte Limited and FRF 348 Quincy, began the case in October 2019.

Mortgage holdings at banks increased last year despite mixed results at the largest depositories, including a decline at Wells Fargo. The ARM share also increased somewhat. (Includes data table.)

Redwood Trust touted a new partnership with the Canada Pension Plan Investment Board as one of the first steps to increasing its activity in joint ventures.

A recent victory in court for Sharestates could lead to increased originator protections in the business purpose lending market.

Nonbank lenders are offering new HELOC options for homeowners who are self-employed or are looking to tap equity in their investor and second-home properties.