Rithm Capital issues $262.3 million non-prime MBS

Rithm Capital issues $262.3 million non-prime MBS | Mortgage Professional Specialty Non-Prime Transaction is backed by 529 non-QM loans Rithm Capital, formerly New Residential Investment, has issued a $262.3 million MBS transaction backed by non-prime residential mortgages. The RMBS deal is collateralized by a pool of 529 newly originated mortgages, 71% of which were categorized … Read more

Black Knight releases latest mortgage delinquency report

The national foreclosure rate remained virtually unchanged at 0.3% since March but inched up by one basis point from July 2021. “This slight bump mirrors metro-level trends, with almost two-thirds of areas that CoreLogic tracks posting small annual foreclosure gains,” CoreLogic said in a statement. “The minor uptick in foreclosures may be due to mortgage … Read more

Home price appreciation slows to pre-pandemic rate

Over the course of the pandemic, home values have skyrocketed — in some cases jumping by 30% over two years. Price appreciation is still growing, but now at a notably lower rate, according to a report published by homegenius, a Radian Group company, on Friday. As of August, home price appreciation rose at an annualized … Read more

FHFA makes two personnel appointments

“Having already served as a detailee in the office of the director since June, Karen will continue to be a key advisor and leverage her decision-making and subject matter expertise to provide strategic and operational excellence across the agency,” said FHFA director Sandra Thompson. Read next: FHFA opens probe into FHLBanks system Frumkin has been … Read more

Ian’s wrath slams real estate as industry weighs climate risk

Hurricane Ian’s devastation could cost as much as $47 billion in damages to residential and commercial properties, affecting nearly 900,000 homes, a new CoreLogic analysis finds. The storm, one of the most powerful to ever hit the U.S., slammed into the west coast of Florida on Wednesday as a Category 4 hurricane. It made a … Read more

Updated but not replaced: Accurate Group’s appraisal platform

“We have a technology platform that’s usable for every type of lending market, whether it’s home equity, whether it’s a servicing environment [or] whether it’s originations or refinance-heavy,” Baczkowski said. “Some of those business channels – home equity and refinance are great examples – are counter-cyclical.” That means that now refinance has dried up, for … Read more

The Real Brokerage’s two acquisitions will enable vastly broader platform

LemonBrew, a technology-backed home loan platform, is licensed to provide mortgage services in 20 states in the US including Texas, California and Florida. While it currently operates as a mortgage brokerage, serving as an intermediary between borrowers and lenders, it is also a licensed lender in 12 states, Poleg noted. This gives it the ability … Read more

Saga Gronkiewicz, adviser, GRN Financial Services

Describe your firm in a few sentences We are a family-run firm offering mortgage and insurance advice to clients across the UK. Our office is located in Leek, a beautiful Peak District town in Staffordshire. I am the mortgage broker and I work with my husband and business partner for years, Tom. We’ve now introduced … Read more

Fed’s Brainard: Global rate hikes could threaten financial stability

As central banks around the world work to combat rampant inflation, the tightening of monetary policy could become a threat to financial stability, Federal Reserve Vice Chair Lael Brainard warned Friday morning. “The global environment of high inflation and rising interest rates highlights the importance of paying attention to financial stability considerations for monetary policy,” … Read more