After a nearly year-long search, Mark Spain Real Estate has finally found its new CEO. On Tuesday, the firm said it was naming David Zanaty as its new leader. The company said that this marks a “pivotal moment for the firm as it enters a new phase of growth, building upon the strong foundation and […]
Mark Spain Real Estate names new CEO; Spain transitions to executive chairman Read More »
The bonds that underly mortgage rates were only slightly stronger today, but that’s never a bad thing when they closed near the best levels in a year the previous day. Additionally, those bonds improved by the end of the day yesterday, meaning that mortgage lenders were going into today with a bit of a cushion.
Another Winning Day For Mortgage Rates Read More »
Pennymac’s financial services unit built profits as it produced consistent consecutive-quarter loan volume and reduced servicing valuation-related losses in a market with lower rates, but it fell short of some consensus expectations. The $181.5 million in net income recorded under generally-accepted accounting principles topped the previous quarter’s $136.5 million and $69.4 million a year earlier,
Pennymac financial services unit improves profitability Read More »
Kin, a direct-to-consumer home insurance provider, has entered the mortgage broker business, starting in Florida, and offering a full array of mortgage and home equity products. The mortgage broker business is also direct-to-consumer and plans are to eventually expand to other states where Kin has a presence, said company founder and CEO Sean Harper. He
Insurance provider Kin starts Florida mortgage business Read More »
Key insight: The second-largest U.S. bank has been providing relief for federal employee customers since the start of the shutdown, CEO Brian Moynihan said. What’s at stake: The shutdown has now reached 21 days, leaving many federal workers without regular paychecks, which can impact their ability to make payments. Expert quote: “We handle it just
BofA treating gov’t. shutdown like natural disaster: CEO Read More »
A potential government-sponsored enterprise stock offering President Trump and his team have been “opportunistically evaluating” could be done on a near-term basis, US Federal Housing Director Bill Pulte confirmed late Monday. That offering for an entity that Pulte and Trump have called the Great American Mortgage Corporation “could be as early as the end of
Pulte: GSE stock offering ‘as early as the end of 2025’ Read More »
Seniors’ home equity holdings set a record in the second quarter as property values continue to increase, albeit at a slower pace than earlier this year. However, given the ongoing government shutdown, endorsements of Home Equity Conversion Mortgages, the Federal Housing Administration product which makes up the bulk of reverse mortgage lending, are on hold.
Senior home equity holdings rise to record level Read More »
Residential mortgage and services provider Rate is rolling out the welcome mat for mortgage industry veteran Jason Stenger, appointing him to chief production officer. Stenger moves over to Chicago-based Rate from Movement Mortgage, where he most recently held the title of chief operations officer, a role he served in for over three years. Lyra Waggoner
Rate welcomes Jason Stenger to executive leadership Read More »
Better Home & Finance is rolling out a new wholesale operation where it’ll offer home equity line-of-credit and closed-end second liens. The lender is touting a wide credit matrix, fast originations and options including 12 and 24 month bank statement approval options for small business owners. The largely direct-to-consumer shop, with an emerging retail arm,
Better launches HELOC, CES wholesale channel Read More »
Lenders can expect to see a concrete milestone reached in credit scoring changes by early next year, a Mortgage Bankers Association official said at the 2025 MBA Annual conference in Las Vegas on Monday. Sasha Hewlett, associate vice president of secondary and capital markets at the MBA, said regulators are currently weighing credit score change
Credit score update coming early 2026, MBA says Read More »