Industry
Homa raises $5 million, expands statewide in California and adds an in-app mortgage feature
The seed round funds a California rollout and a buydown offer. The up-to-2% buyer credit depends on seller-paid commission, and the 0.75-point buydown is an advertised maximum, not a rate quote.
KBRA assigns preliminary ratings to $250.6 million Angel Oak Mortgage Trust 2026-6
The non-prime deal holds 381 loans, 62.8% non-QM and 37.2% exempt business-purpose loans. Preliminary ratings are not final, and the deal is not agency MBS.
Newly released GAO report details HUD's 29% workforce reduction
GAO publicly released the report Oct. 14, although it is dated Sept. 30 and examines changes in 2025. Selected stakeholders reported delays; the interviews are not a nationwide census.
First Horizon agrees to sell about $4.5 billion of lower-yielding mortgages
First Horizon disclosed an early-October mortgage sale agreement in its Oct. 15 earnings release. The filing’s opening and a footnote differ on settlement status.
MISMO Names First FRAME Advisory Partners for Mortgage AI Governance
Six consulting firms earned MISMO's new certification to help lenders and servicers apply its FRAME AI governance framework.
Pineapple Financial Rebrands as Pentiv, Launches Brokerage Intelligence Platform
The Toronto-based mortgage company says Pentiv will sit above existing origination systems, starting with recruiting and renewal tools already used inside Pineapple+.
JPMorgan and Wells Fargo Report Lower Home Lending Revenue in the Third Quarter
JPMorgan's Home Lending net revenue fell 3% from a year earlier to $1.2 billion and Wells Fargo's fell 15% to $743 million, the banks reported Oct. 13, even as both posted higher overall profits.
Ginnie Mae Issuance Drops to $46.5 Billion in September as Portfolio Reaches $3.03 Trillion
Ginnie Mae said Oct. 13 that it issued $46.52 billion of mortgage-backed securities in September, below the $52 billion to $54 billion pace of the prior three months, while its outstanding portfolio…
Freddie Mac Sets September 2027 Deadline for Servicers to Move Default Reporting to Resolve
Freddie Mac said Oct. 12 that servicers must report delinquent-loan events through its Resolve platform starting Sept. 27, 2027, replacing monthly reporting through its Electronic Default Reporting t…
FirstClose and Cotality Expand Alliance to Target a Seven-Day Home Equity Close
FirstClose said Oct. 12 that a deeper integration with Cotality's property, valuation, flood, tax and title data lets lenders run home equity loans in one workflow, with closes in as little as seven…
TD Expands Agentic AI to Mortgage Funding and Discharge in Canada
TD Bank Group said Oct. 13 it has added AI tools that prepare case summaries for mortgage funding and assemble discharge statements, with staff reviewing every output. TD says funding reviews can tak…
Tavant Launches Mortgage Data Foundry to Unify Lender Data Across Systems
Tavant said Oct. 12 that its new Mortgage Data Foundry reads data from lenders' CRM, pricing, origination, servicing and accounting systems into one MISMO-based layer, with cost savings it describes…
MBA Forecasts a 5% Drop in 2027 Mortgage Originations as Rates Stay Above 7%
At its annual convention in Chicago on Oct. 11, MBA projected just under $2 trillion in 2027 single-family originations, with purchase lending flat and refinances down 17%.
nCino Bundles AI Tools for Mortgage Loan Officers Into a New Productivity Suite
nCino said Oct. 12 its Loan Officer Productivity Suite brings an AI assistant, eligibility prechecks, AUS task summaries and automated preapprovals and disclosures into its mortgage point of sale.
PLACE Agrees to Buy Ardley, Adding Mortgage Retention Software Weeks After Maxwell
PLACE said Oct. 9 it agreed to acquire Ardley, which analyzes servicing portfolios and sends borrowers pre-structured loan offers. Financial terms were not disclosed.
MBA Adds FTI Consulting Cybersecurity Help as a Member Benefit
MBA said Oct. 9 its members will get preferred access to FTI Consulting for security assessments, threat monitoring and incident-response support, without requiring a full audit.
eXp Realty and Newrez Plan Revenos Mortgage Joint Venture for Early 2027
Announced Oct. 8 at eXpcon, Revenos Mortgage, powered by Newrez, will serve eXp agents and their clients. It is not live yet, and product and pricing details have not been released.
Alta Home Lending Says It Has Nearly Doubled Staff, Bets on Builder Joint Ventures
An Oct. 11 San Antonio Express-News report says Alta grew from 80 to 150 employees after its April 2025 Republic State Mortgage acquisition, as it adds builder partners including DRB Group.
HUD Sets 5% FHA Debenture Rate for Second Half of 2026
A HUD notice filed for public inspection Oct. 9 sets a 5% debenture interest rate for most FHA loans committed or endorsed July 1 to Dec. 31, 2026. It is not a consumer mortgage rate.
White House Sets November 5 Hearing in Lisa Cook Inquiry
A presidential memorandum dated Oct. 7 creates a three-member committee to examine mortgage-related allegations against Fed Governor Lisa Cook, who denies wrongdoing, with a closed hearing Nov. 5.
Fannie and Freddie Put New Distressed-Loan Pools on the Market
On Oct. 8, Fannie Mae marketed about 1,217 deeply delinquent loans plus a 27-loan Dallas-Fort Worth Community Impact Pool, and Freddie Mac reported a $428 million NPL sale with another offering due O…
HUD Says Operation Clean House Led to Nearly 500 Arrests
HUD said Oct. 8 that Operation Clean House, a multi-agency effort targeting fugitives living in HUD-assisted housing, produced 491 arrests across 12 cities and others. Arrests are not convictions.
Mortgage Credit Availability Edges Lower in September
MBA's Mortgage Credit Availability Index, released Oct. 8, fell 0.2% to 107.1 in September as lenders tightened conventional documentation and trimmed cash-out and investor offerings.
UWM Drops Its Minimum Credit Score Overlay on Agency Loans
UWM said Oct. 7 that conventional, FHA, VA and USDA eligibility will be set by automated underwriting rather than a company score floor. Scores still drive pricing, and Jumbo, Bank Statement and Inve…
HUD Opens Fair Housing Act Investigation Into Wells Fargo's Black Homeownership Programs
HUD said Oct. 7 that Secretary Scott Turner launched an investigation into whether Wells Fargo's initiatives to increase Black homeownership may violate the Fair Housing Act. No finding has been made.
UWM Will Pull Both FICO and VantageScore 4.0 and Use the Stronger Qualifying Score
The wholesale lender said Oct. 6 it will obtain both scores on every credit pull and default to the one that gives the borrower the better eligible outcome. It is a lender policy, not a new FHFA rule.
MISMO Starts Work on a Standard Template for Tri-Party eNote Bailee Agreements
The mortgage standards body asked lenders, warehouse banks, investors and technology firms on Oct. 6 to help build a common Master Bailee Agreement. The kickoff meeting is Oct. 22.
Fair Isaac Discloses Plan to Cut About 15% of Positions, $27 Million in Charges
An Oct. 6 filing says management committed to the plan Oct. 1, began notifying employees the week of Oct. 5 and expects about $27 million in pre-tax charges in fiscal fourth-quarter 2026.
Pulte Points to Rocket Study: VantageScore 4.0 Saved Some Borrowers an Average $1,600 at Closing
Rocket says the alternative score opened access for some borrowers and improved pricing for others. The new figure arrives weeks after FHFA opened VantageScore 4.0 to every Fannie Mae and Freddie Mac…
FHA Sets 2027 Start for VantageScore 4.0 and FICO 10T in Mortgage Underwriting
FHA will begin accepting VantageScore 4.0 and FICO Score 10T for eligible mortgages on Jan. 1, 2027, giving lenders more flexibility in how borrowers are evaluated. The shift could expand credit-scor…