Even though the price of softwood lumber has climbed up by more than 7% in the last three months, it sits 21% below its level from a year ago. https://www.nationalmortgagenews.com/news/more-good-news-for-home-builders-this-time-on-supply-costs
NextGenMortgage
Movement Mortgage settles False Claims case for $23.75M
The qui tam suit filed in 2018 alleged errors in government loan submissions all the way back to 2008, the year it was founded. https://www.nationalmortgagenews.com/news/movement-mortgage-settles-false-claims-case-for-23-75m
The secrets to two wholesale lenders’ success today
Government lender Plaza Home Mortgage, non-owner occupied originator Constructive Capital are seeing success in the changing environment, helped by their respective business models. https://www.nationalmortgagenews.com/news/the-secrets-to-two-wholesale-lenders-success-today
Mike Cagney’s Figure lays off 20% of staff amid IPO plans
Figure Technologies laid off 90 employees this week, or about 20% of its staff, while it's also interviewing bankers in advance of a planned initial public offering for its lending business next year, according to documents reviewed by Bloomberg....
Morgan Stanley says Bill Dudley is wrong about bond market
In their latest assessment of the bond market outlook, Morgan Stanley strategists are challenging the former head of the Federal Reserve Bank of New York's view that losses are likely to deepen....