President Donald Trump and New York City Mayor Zohran Mamdani met at the White House Thursday to discuss a multibillion-dollar affordable housing plan. Processing Content Mamdani is seeking $21 billion in federal grants for a construction project at Sunnyside Yard, which would allow the city to build 12,000 new affordable homes, create 30,000 union jobs […]
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Fairway Independent Mortgage Corp. is entering the home insurance market, offering products at origination through a new partnership with The Baldwin Group. Processing Content The two companies announced the launch of the home lender’s new affiliated business Thursday, with Fairway utilizing embedded proprietary technology belonging to the insurance brokerage and advisory firm. The new business will
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The national delinquency rate cooled last month, while foreclosure activity hit its highest level since early 2020, a new industry report shows. Processing Content Delinquencies fell by three basis points to 3.65% in January, 15 basis points below prepandemic levels, but foreclosure starts caught up with its 2020 numbers last month, totaling 42,000, according to
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Oregon’s Willamette Valley Bank announced it is exiting mortgage lending, pointing to challenges facing small institutions and macroeconomic concerns behind its decision. Processing Content The community bank, based in Salem, Oregon, will formally end residential lending operations on March 31. Along with four full-service branches across the state, Willamette Valley also runs five designated home
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Better is turning to crypto-linked capital to fund as much as $500 million in mortgages, betting the move can double originations and eventually push borrower rates below 5%. Processing Content The lender is partnering with Framework Ventures to tap funding through the Sky stablecoin ecosystem, positioning the platform as an alternative source of warehouse liquidity
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Wholesale and correspondent mortgage firm Lendermac announced it had reached an agreement to acquire Direct Mortgage Corp., the latest deal in the current wave of industry consolidation. Processing Content The move aims to bolster the national presence of Cypress, California-based Lendermac and facilitate its efforts to create a scaled multichannel platform that supports future expansion,
Non-QM specialist Lendermac acquires Utah’s Direct Mortgage Read More »
A new business agreement has led to the creation of a credit union servicing organization focused specifically on mortgage servicing. Processing Content The parent company of Great Lakes Credit Union is partnering with servicing platform Vertyx for the CUSO launch. Dubbed Vertyx CUSO, the business aims to serve its member institutions with technology tailored for
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WASHINGTON — Karen Petrou, co-founder and managing partner of Federal Financial Analytics and a luminary of financial policy, died Saturday afternoon of liver cancer after a brief illness. She was 73. Processing Content Petrou wielded an outsized presence in Washington economic and regulatory circles, cultivated over the course of decades in the industry and through
Karen Petrou, founder of Federal Financial Analytics, dies Read More »
A proposed Washington State bill that aims to replenish lost wildfire prevention funding could end up removing a tax break currently benefiting large digital lenders. Processing Content Rep. Shaun Scott, a Democrat from the Seattle area, introduced state house bill 2089 to redefine existing regulations and limit the types of companies that could take advantage
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A consortium of mortgage and banking trade groups is voicing support for changes to a capital risk framework governing depository institutions, which if enacted could expand their participation in home lending. Processing Content In a letter addressed to federal officials, the groups called for further reexamination and a reproposal of the Basel III rule that
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