The second quarter for the subsidiary of Waterstone Financial posted its highest net income since the same period in 2022, while its volume was the most in seven quarters. https://www.nationalmortgagenews.com/news/waterstone-mortgage-has-best-quarter-in-two-years
NextGenMortgage
Fed officials argue for gradual pace of cuts starting soon
Two Federal Reserve officials said they believe it's appropriate for the U.S. central bank to begin lowering interest rates soon, and that the pace of subsequent cutting should be "gradual" and "methodical."...
Banc of California is selling $2 billion of residential loans
The bank acquired these business purpose non-qualified mortgage loans originated by Civic Financial Services in the PacWest Bancorp deal. https://www.nationalmortgagenews.com/articles/banc-of-california-is-selling-2-billion-of-residential-loans
Cherry Hill passes on potential sale, pursues another option
The REIT has decided not to sell any part of its business for now and has chosen to internalize its management, it announced Tuesday. https://www.nationalmortgagenews.com/news/cherry-hill-mortgage-passes-on-potential-sale
Mortgage-related loss grows at Remax in 2Q
Remax Holdings had net income of $3.7 million, up from $2 million one year prior, but a non-GAAP measure used for the mortgage business showed a near $200,000 increase in losses. https://www.nationalmortgagenews.com/news/mortgage-related-loss-grows-at-remax-in-2q