Ellington Adds to its NPL, Servicing with Great Ajax Acquisition

National Mortgage News, July 6, 2023–Brad FinkelsteinEllington Financial’s proposed acquisition of fellow real estate investment trust Great Ajax creates synergies for its nonperforming and reperforming mortgage loan portfolios as well …

Fannie Mae, Freddie Mac Update Condo and Co-Op Unit Policies

National Mortgage News, July 6, 2023–Bonnie Sinnock (subscription)Fannie Mae on Wednesday released criteria for loans on apartments within condominiums and cooperatives that will replace stop-gap measures for buildings with significant …

Another Warehouse Financier Calls It Quits

Inside Mortgage Finance, July 5, 2023–Paul Muolo (subscription)Roughly nine months after declaring its entry into the warehouse lending arena, Fifth Third Bank has decided to exit the business, multiple sources …

Home Equity Lending Cools in First Quarter

Inside Mortgage Finance, June 30, 2023–Brandon Ivey (subscription)The volume of new home equity line of credit commitments and closed-end second liens originated in the first quarter of 2023 declined by …

Payment Provider Fined $25 Million for Error at Servicer

National Mortgage News, June 27, 2023–Maria Volkova (subscription)The Consumer Financial Protection Agency hit ACI Worldwide and its subsidiary ACI Payments with a $25 million fine Tuesday for illegally initiating withdrawals …

Fannie Mae, Freddie Mac Foreclosures Rise, Delinquencies Dip

National Mortgage News, June 26, 2023–Bonnie Sinnock (subscription)More houses backing loans purchased by two government-related mortgage investors ended up in the distressed market during the first quarter, but that number …

Fannie Mae, Freddie Mac Foreclosures Rise, Delinquencies Dip

National Mortgage News, June 26, 2023–Bonnie Sinnock (subscription)More houses backing loans purchased by two government-related mortgage investors ended up in the distressed market during the first quarter, but that number …