Western Asset Mortgage Capital close to axing merger with TPT

By: ameer@trustedteam.com

Western Asset Mortgage Capital Corporation is considering dropping out of its merger agreement with real estate investment firm Terra Property Trust. The transaction was set to close during the...

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Regulators issue guidance on Fed discount window, emergency borrowing

By: ameer@trustedteam.com

The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency Friday issued a guidance to banks encouraging them to be familiar with the process...

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The Agency ventures into core services

By: ameer@trustedteam.com

Mauricio Umansky‘s residential brokerage The Agency is venturing into core services. Through partnerships with Bubble Insurance Solutions and New American Funding, real estate agents at The Agency will have access...

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Lender admits guilt in fraud case involving bogus IPO

By: ameer@trustedteam.com

An Orange County, California, correspondent lender pleaded guilty to fraud this week after bilking an investor of $5.3 million with promises his company was headed for an initial public...

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JPMorgan to buy almost $2B of mortgages in the PacWest deal: reports

By: ameer@trustedteam.com

JPMorgan Chase will buy nearly $2 billion worth of mortgages to grease Banc of California‘s purchase of PacWest Bancorp, Bloomberg reported. The bank entered into an agreement to buy $1.8...

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Redwood foresees proposed bank rules boosting jumbo opportunity

By: ameer@trustedteam.com

The proposed bank capital rule changes could create further opportunity for Redwood Trust when it comes to non-agency mortgages, company management said on its second quarter earnings call.The real...

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Mike Cagney’s Figure lays off 20% of staff amid IPO plans

By: ameer@trustedteam.com

Figure's lending business hit a record $900 million in volume during the second quarter and reached $83.5 million in revenue during the first half of the year, according to...

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CFPB report describes reverse mortgage issue in LO comp section

By: ameer@trustedteam.com

The Consumer Financial Protection Bureau (CFPB) this week released the latest edition of its “Supervisory Highlights” report, in which the Bureau calls out different kinds of loan originator compensation...

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Nearly 90% of older adults want to age in place: survey

By: ameer@trustedteam.com

In a survey of 1,000 respondents aged 55 or older, 89% of respondents said they wished to age in place in their own homes as opposed to seeking out...

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Justin Crowley’s referral-driven mortgage success story

By: ameer@trustedteam.com

“I don’t do any marketing; it’s all word of mouth,” he asserted, emphasizing the importance of cultivating strong relationships with clients. “I believe in building trust and rapport. When...

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