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NYCB, a struggling $78B resi mortgage servicer, to receive $1B equity investment

Housing Wire

Department of Treasury Secretary Steven Mnuchin’s private equity firm, Liberty Strategic Capital , will inject $1 billion in equity investment in struggling New York Community Bancorp (NYCB), one of the nation’s largest residential mortgage servicers. NYCB became a large residential mortgage servicer after the acquisition of Flagstar.

Equity 416
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Pennymac shakes up tech leadership

Housing Wire

They also come as the mortgage industry is making efforts to adopt artificial intelligence solutions to improve productivity and better assist customers. Follette, who joined Pennymac 12 years ago, became the company’s senior managing director and chief mortgage operations officer in 2022.

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FAR parent updates investors on AAG integration, business performance

Housing Wire

The company also provides commentary for its fourth quarter 2023 financial performance, assesses its market advantages and offers an assessment of impacts stemming from changes in Ginnie Mae ’s Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) program.

Investor 421
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Private-label securities are in demand as investors bet Fed peak is reached

Housing Wire

“And so [investors] can start having greater conviction in the future path of interest rates and in the health of the mortgage market.” Non-QM mortgages include loans that cannot command a government, or “agency,” stamp through Fannie Mae or Freddie Mac. KBRA expects fiscal year 2024 issuance for RMBS 2.0

Investor 421
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Announcing the 2023 HW Insiders!

Housing Wire

Name Job Title Company Name Aaron Kardell Vice President of Product Lone Wolf Technologies Aayaam Kapoor Vice President of Product and Agency Real Estate Webmasters Amaly Quiroz Vice President of Transaction Operations eXp Realty Amy Gorce CEO REdistribute Andrew Binkley President Constellation Real Estate Group Ankur Bansal President of HomeLight (..)

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What should lenders look for in servicing solutions?

Housing Wire

Lenders who want to thread the needle between the different interests of borrowers, investors and regulators need smart, efficient mortgage software solutions to meet their servicing goals. To increase servicing efficiency, choose mortgage servicing software that: Automates servicing operations Automation is essential for efficient servicing.

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Pennymac increases profits to $58M in Q2

Housing Wire

Although the performance was propelled by its servicing portfolio – as occurred in previous quarters – mortgage production returned to profitability. billion in unpaid principal balance (UPB) as of June 30, up 2% from March 31. trillion, still well below normalized levels, as mortgage rates are currently near 7%. trillion to $1.8

Banks 369