Recent communications from the White House seem to affirm that the CDFI Fund won’t face drastic cuts following a recent executive order.

An estimated $68.00 billion of adjustable-rate mortgages were originated in the fourth quarter.

The correspondent share of nonconforming originations fell to 9.0% in 2024, down from an 11.9% share in 2023.

Tomo will use the proceeds to hire additional loan officers, processors and underwriters.

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.

Loan originators are looking to bank statement and DSCR loans to boost production in a higher-for-longer interest rate environment, according to Tom Hutchens, president of Angel Oak Mortgage Solutions.

Shellpoint handled servicing on 26.6% of the dollar volume of non-agency MBS issued during the fourth quarter.

Tomo said it can save the typical homebuyer $4,000 at closing through the use of its AI underwriting software.