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A retail channel veteran, Promisco has spoken frequently about the potential of AI to bring efficiency and lower costs in the loan origination process. View the full article

The deal has an extensive capital structure, which is expected to repay investors sequentially, with notes enhanced by subordination. View the full article

The deal is composed of 11,547 seasoned performing and reperforming loans that are first and second lien. Loan servicing includes a 180-day chargeoff feature. View the full article

The regulator has a projected fiscal year 2025 budget of $810 million, according to a nonpartisan analysis. View the full article

Sen. Mike Rounds, R-S.D., has filed a Congressional Review Act resolution to repeal the Consumer Financial Protection Bureau's rule barring medical debt from credit reports. View the full article

The letter claims the flood insurance premium pricing change has made the product unaffordable, resulting in a large drop off in the number of policies. View the full article

Comptroller of the Currency Jonathan Gould said Tuesday that chartering compliant fintechs is "the only way" to level the playing field between banks and nonbanks. His comments come as the Office of the Comptroller of the Currency weighs new trust charters and stablecoin rules. View the full article

The startup, which emerged from Y Combinator in 2023, has deployed its software at a long list of community banks and fintechs, including Grasshopper Bank and First Internet Bank. View the full article

The minority homebuilder share of the industry more than doubled after 2007 but lags when compared to the total non-white U.S. population, according to NAHB. View the full article

What developments around rent reporting and new credit standards portend for mortgage companies. Part 2 of a series on government-sponsored enterprise changes. View the full article

If the government were to end the Fannie Mae and Freddie Mac conservatorships, the new status could constrain CRT deal ratings, as they are counterparties. View the full article

Big players, Wall Street and tech firms stand to gain. Community lenders call for policymakers to protect g-fee parity and the cash window. Part 5 in a series. View the full article

Guaranteed Rate Affinity, joint venture between Guaranteed Rate and Anywhere Integrated Services, announced its national builder divisional manager. View the full article

Origination volume at the San Diego-based company rose 57% to $24 billion in 2024. View the full article

The San Diego-based lender reported a net loss of $23.9 million for the January-March period, down from a net income of $97.9 million the quarter prior. View the full article

This potential transaction would be part of a broader trend of mortgage lenders and servicing players converging, such as Rocket's recent acquisition of Mr. Cooper. View the full article

Loanlogics rolled out the LoanBeam NQM income analyzer in October and has four users for the non-qualified mortgage underwriting technology, including Pennymac. View the full article

The lender reported $33.3 million in net income in the third quarter this year, up from the second quarter and same period a year earlier. View the full article

Ice storms, straight-line winds and tornadoes occur more frequently than hurricanes and earthquakes and those insurance claims can stack substantially. View the full article

A Florida man's racketeering class action case accuses two mortgage employees of conspiring with a homebuilder to facilitate fraudulent construction draws. View the full article

Mutual of Omaha, Finance of America and Longbridge Financial rank at the top of HECM endorsements over the past 12 months, Reverse Market Insight reported. View the full article

The financial services unit also made a categorization change that revised comparisons to prior periods and will be working with its REIT affiliate in new ways. View the full article

Once regulatory clarity emerges, the home equity investment space will attract more investors and potential new originators, a panel of industry experts said. View the full article