The $2.5 billion cap for Freddie’s pilot program to buy closed-end seconds should limit impact on the non-agency secondary market. But industry players worry about the long-term risks if the pilot is successful.

Servicers must adjust their thinking on delinquencies, reserves and collections when the borrower is an investor rather than an occupant.

John Beacham, CEO of Toorak Capital Partners, said ratings on fix-and-flip securitizations are attracting more investor interest and prompting better pricing for issuers.

Most of the noncore categories where the GSEs are active lagged overall market growth. The one that didn’t: conforming jumbos. (Includes data table.)

The business-purpose lender launched a broker channel and expects to expand its wholesale operations in the years to come.

It remains a challenge to finance accessory dwelling units through traditional mortgage products. A new financing option from an ADU builder looks to overcome that challenge.

Quarter says the funds will be used to finance 300 additional homes.

One in 12 home sales in the first quarter of 2024 was a flipped home, but only one-third of flippers used financing.

EquiFi hires new leadership for mortgage division; Encompass Lending to use FICO Score 10T; LoanStream announces July pricing special; Change Lending appoints new CFO.

In recent years, automated systems have gained a growing role in non-QM underwriting to help verify income...