Mortgage Loans

Toorak Capital LLC is selling its operating platform to Velocity Financial Inc. and a $3 billion business-purpose loan (BPL) portfolio to a third-party investment firm, the companies announced Thursday. The transactions have a total value of about $3.2 billion. California-based Velocity will purchase Toorak’s business-purpose lending and asset management platform in an all-cash deal. Meanwhile,

Article Summary The Senior Citizens League projects a 3.6% Social Security COLA for 2027 as CPI-W trends run higher, with the official update due Oct. 14. For reverse mortgage borrowers, higher future Social Security income and HECM line-of-credit growth dynamics can influence when to claim benefits and when to draw loan proceeds. Recent estimates show

Article Summary Ginnie Mae President Joe Gormley said the agency is prioritizing standardized loan-level data and automation to reduce bad data cleanups. The push supports more transferable MSRs and earlier risk detection across the issuer ecosystem. Ginnie Mae President Joe Gormley’s message to executives at this week’s Mortgage Industry Standards Maintenance Organization (MISMO) Fall Summit

Article Summary Mike Kortas and Anthony Casa have moved past their long-running feud as NEXA Lending recently announced its acquisition of UMortgage. The reconciliation has also brought Kortas, Casa and the Association of Independent Mortgage Experts back into closer alignment. Mike Kortas and Anthony Casa, two of the most prominent personalities in the mortgage brokerage

AARP outlines six numbers for assessing financial health: monthly cash flow, Social Security estimates, retirement savings (using the 4% rule), credit scores, high-interest debt and debt-to-income ratios. With two in five workers worried about retirement, these measures can reveal problems early, when course corrections are easier. A handful of numbers — from the money left

Article Summary Complex-income preapprovals fail when untested assumptions are treated as settled. These five questions help LOs identify the load-bearing income source, avoid double counting and document what reviewers must confirm. A complex-income preapproval does not usually fail because the loan officer cannot add. It fails because one assumption was treated as settled before anyone

UWM Holdings Corp., parent of United Wholesale Mortgage (UWM), has set the terms for a rights offering expected to bring in at least $400 million, the company announced Tuesday. The offering is part of the lender’s $2.05 billion capital raise with Oaktree Capital Management and the Ishbia family (through investment vehicle SFS Group Capital LLC)

Article Summary With 30-year rates near 7%, lenders cannot rely on refinance volume. RETR data on 17,438 originator moves shows brokers and non-delegated channels were the only net gainer in 2026, underscoring the need to choose and fund a defensible moat. Each installment of this series has opened with the 30-year rate higher than the

Polly says it expanded agentic AI across implementation, pricing, execution and settlement on its capital markets platform. The company says lenders can reach a production-ready environment in four to six weeks, supported by a pre-signature Jumpstart program. San Francisco-based fintech Polly announced on Wednesday that it’s expanding its AI capabilities across its mortgage capital markets

MBA weekly data for Sept. 18, 2026, show mortgage applications fell 1.5% as the 30-year fixed rate rose to 7.12%. Refinance fell 3%, purchase slipped 1% and ARM share increased to 9.8%. Mortgage applications decreased 1.5% from one week earlier as rates rose above 7%, according to data from the Mortgage Bankers Association (MBA)’s weekly