Fed Cuts Rates 0.25 Percent But Signals That’s it for 2025
As was expected, the Federal Open Market Committee (FOMC) today voted to cut the fed funds rate by 0.25% to 3.75%-4.0%.
The FOMC is also...
BlackFin Promotes Mortgage Industry Veteran Luana Slettedahl to Partner
Luana Slettedahl has been promoted to partner at mortgage consultancy BlackFin Group.
Slettedahl joined BlackFin Group in 2021. Since then she has played a key...
Invictus Partners With Moore Capital Management to Invest in Residential Mortgage Loans
Investment management firm Invictus Capital Partners and investment firm Moore Capital Management (MSC) are partnering to invest up to $500 million in newly-originated residential...
Mortgage Locks Dipped in August as Non-QM Loans Climbed to 8.3 Percent of Originations
Total mortgage lock volume dipped 1.8% in August compared with July as a roughly 10% drop in purchase locks outweighed the strongest month for...
PennyMac Correspondent Group Expands Non-QM Offerings
The PennyMac Correspondent Group is launching a new suite of non-qualified mortgage (non-QM) products on September 22.
These products will expand access to flexible financing...
Kiavi Closes $400 Million Rated Securitization
Fix and flip private lender Kiavi has closed a $400 million rated securitization of residential transition loans, locking in up to $1.3 billion of...
ACES: Loan Quality Risk Increasing as Market Pressures Mount
The overall critical defect rate for mortgage loans post-closing increased to 1.31% in the first quarter, ending a two-quarter improvement streak, according to the...
Optimal Blue: Non-QM Lending Hit Highest Share on Record in July at 8 Percent
Mortgage lock volume decreased 3% in July compared with June, led by a nearly 5% drop in purchase activity, according to Optimal Blue’s Market...
End Ginnie Mae Servicer Advances
BLOG VIEW: The Ginnie Mae Early Buyout program does not need to be modified – it needs to be eliminated.
Ginnie Mae should make principal...
Optimal Blue Adds New Feature to PPE That Automates Best Efforts Locks
Secondary marketing software firm Optimal Blue has introduced a “first-of-its-kind automation” that could change how lenders handle best efforts locks.
The new enhancement to the...
Joseph Gormley Nominated to Serve as President at Ginnie Mae
Joseph Gormley has been nominated to serve as the next president at Ginnie Mae.
Gormley currently serves as Ginnie Mae’s executive vice president and chief...
Fed Votes 9-2 to Hold Interest Rates Steady
As was expected, the Federal Open Market Committee on Wednesday voted to keep the fed funds rate at 4.25% to 4.5%, however, two committee...
Logan Finance Promotes Dave Weatherford to EVP of TPO Production
Dave Weatherford has been promoted to executive vice president of TPO production at non-QM lender Logan Finance Corp.
The promotion follows Logan Finance’s launch of...
Planet Home Lending’s Correspondent Sellers Can Gain Efficiency Boost With E-Notes
Planet Home Lending reports that it is boosting speed and efficiency for its correspondent sellers through its acceptance of e-notes.
Planet accepts electronic promissory notes...
Optimal Blue: Mortgage Lock Volume Increased in June
Total lock volume increased 1.95% in June compared with May, driven mainly by an increase in refinances, Optimal Blue’s June Market Advantage report shows.
Rate-and-term...
ACES Announces Two Key Promotions in Compliance
Amanda Phillips has been named general counsel and executive vice president of compliance for ACES Quality Management, while Savannah Prout has been elevated to...
Pulte Directs GSEs to Consider Crypto as an Asset for Mortgage, But What Are...
Bill Pulte, director of the Federal Housing Finance Agency, recently announced on X that he has ordered government-sponsored enterprises (GSEs) Fannie Mae and Freddie...
Rithm Capital Closes $504 Million Non-QM Loan Securitization
Rithm Capital Corp. recently closed a $504 million securitization backed by a pool of non-qualified residential mortgage (non-QM) loans serviced by Rithm’s subsidiary, Newrez.
The...
Optimal Blue: Total Mortgage Lock Volume Fell 5.87 Percent in May
Total mortgage rate lock volume decreased 5.87% in May compared with April, as mortgage rates remained stubbornly high, according to Optimal Blue’s Market Advantage...
Planet Financial Group Closes $125 Million Senior Unsecured Notes Add-On Deal
Planet Financial Group reports that it has successfully closed an offering of $125 million add-on to its existing $475 million 10.5% senior unsecured notes...