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…
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…
Much like the changing of the calendar, buying and selling homes follows a seasonality that that those in mortgage and real estate have grown accustomed to. But a recent study from tech startup Haus found that mortgage rates can also be seasonal, and borrowers can benefit from understanding that rhythm. Analyzing over 8.5 million mortgage…
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…
The U.S. Senate officially appointed Janet Yellen as Treasury Secretary on Monday, ensuring the 74-year-old will be the first woman to lead the department in its more than 230-year history. As part of Yellen’s team, the Treasury also named Natalie Wyeth Earnest as counselor to the Treasury secretary for strategic communications. Mark Mazur was named…
Real estate services and technology firm SitusAMC on Monday announced its acquisition of mortgage and title outsourcer Assimilate Solutions – the second acquisition by the New York-based firm in January, and its fourth overall in less than a year. Terms of the deal were not disclosed. In a statement, SitusAMC said its latest acquisition will help to…
Fannie Mae is optimistic about economic growth in 2021 as the vaccination agenda promises to put an end to the COVID-19 pandemic. However, Fannie Mae Chief Economist Doug Duncan said that some options being considered, such as stimulus packages with checks for Americans, will create only temporary economic relief. Talking about the $1.9 trillion stimulus…
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…
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…
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…