The lawsuit involves paperwork errors for the titles of 10 Georgia properties where Groundfloor provided business purpose loans.

Santander Bank joins non-QM MBS issuer ranks; Annaly starts securitizing HELOCs; AFR improves pricing on non-owner-occupied loans; A&D Mortgage launches AUS platform for non-QM loans.

A bill that would exclude mortgage trustees from new Maryland licensing requirements passed a state senate committee vote.

A new securitization includes $51.8 million of real estate tax liens primarily for residential and commercial properties.

At a public hearing next month, State Farm will have to justify its request to raise home insurance premiums by 22%.

Ellington Financial signed a joint venture with an unnamed mortgage originator in the fourth quarter.

After achieving profitability in the third quarter, loanDepot returned to the red in the fourth quarter. And the CEO brought on to turn the nonbank’s fortunes around three years ago is departing, with company founder Anthony Hsieh taking a larger role.

The growth is expected to be driven by a few repeat issuers. Only three credit unions were repeat issuers in 2024.

Recurring revenue loans are primarily underwritten based on the borrower’s annual recurring revenue rather than on loan cash flows. RRL ABS issuance is expected to reach $14.3 billion this year.

Rocket Mortgage believes the $1.75 billion acquisition will boost its purchase origination volume and lower the cost of customer acquisitions. It will also add new data to Rocket’s artificial intelligence algorithm.