Industry mourns death of PennyMac’s Stanford Kurland

PennyMac Mortgage Investment Trust announced that company founder and Non-Executive Chairman Stanford Kurland died at age 68 due to complications from COVID-19. Kurland had also been battling brain cancer. The company and industry leaders alike mourned his passing, calling him an “esteemed industry leader, visionary and friend.” “I am deeply saddened to share the news…

Home prices surge to six-year high in November

Record low inventory and strong buyer demand once again pushed up the cost of homes in the U.S., as prices in November rose 9.5% nationally over the same time last year, according to the S&P CoreLogic Case-Shiller index. November’s numbers mark the greatest annual growth rate since February 2014 and even blew past the 8.4% gains seen in…

Forbearances hold steady as exits slow

The U.S. forbearance rate held relatively steady last week, rising one basis point to 5.38% of servicers’ portfolio volume, according to a survey from the Mortgage Bankers Association released on Monday. The virtually unchanged rate of forbearance volume can be attributed to a stalemate between steady declines in almost every investor class and a whopping 26 basis point jump in…

Darwin Homes grabs $15 million in Series A funding

Darwin Homes, a single-family rental property management startup, announced a $15M Series A funding on Monday. Darwin Homes incorporates new proprietary property management software that allows owners and managers to take control over and scale their portfolios across different markets nationwide. The company tripled the number of homes it managed in 2020, and will use…

House Financial Services Committee members named

With the 117th Congress having been sworn in, Rep. Maxine Waters announced the Democratic members for the House Financial Services Committee, which has oversight on banking, insurance, real estate and securities sectors. “I look forward to working with all of my colleagues to continue to tackle this pandemic crisis, make sure the financial system works…

Homepoint’s parent in line for $3B valuation with stock sale

Home Point Capital, the parent company of wholesale lender Homepoint, announced Friday that certain undisclosed stockholders plan to sell 12.5 million shares of Class A common stock, raising $250 million in an independent public offering. Home Point Capital said those stockholders planned to price shares of common stock between $19 and $21 per share, according…