2025 Will Be Better
Lending Laughs Cartoon
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Editor’s Note: Subservicer Stands Out
By Tony Garritano, Founder at PROGRESS in Lending
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MBA And State MBAs, Consumer Advocates Welcome Long-Awaited Rule On PACE Loans
The Mortgage Bankers Association (MBA) and National Consumer Law Center (NCLC), along with the California Mortgage Bankers Association, Housing Policy Council, Jacksonville Area Legal Aid, Mortgage Bankers Association of Missouri, Mortgage Bankers Association of Florida, and Public Counsel of California issued the following joint statement in response to the Consumer Financial Protection Bureau’s (CFPB) final rule on consumer protections for residential Property Assessed Clean Energy (PACE) loans1. PACE programs offer financing to cover the costs of home improvements, most often energy efficiency improvements or solar installation, with the cost added to the homeowner’s tax bill.
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Constructive Capital Hires Megan Castleton As Chief Credit Officer
Constructive Capital, a wholesale capital provider for mortgage brokers and real estate investors, has hired Megan Castleton as chief credit officer. In this role, Castleton will develop and implement credit policies to ensure sound lending practices and drive technological innovation.
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A&D Mortgage Unveils New Non-QM Securitization
A&D Mortgage, a Non-QM lender; Atlas Merchant Capital; and Imperial Fund Asset Management, have successfully priced its latest securitization, A&D Mortgage Trust 2024-NQM6 (ADMT 2024-NQM6). This $303.9 million transaction, backed by 872 newly originated non-prime residential mortgages, reflects the success of this joint venture in addressing the evolving needs of borrowers and investors.
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Mortgage Applications Increased 5.4 Percent From One Week Earlier
Mortgage applications increased 5.4 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending December 6, 2024. Last week’s results included an adjustment for the Thanksgiving Holiday.
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MBA Proposes Ginnie Mae Early-Buyout Securitization To Improve Issuer Liquidity
The Mortgage Bankers Association (MBA) proposed the development of a new Ginnie Mae securitization designed to attract more private capital sources of liquidity to support Ginnie Mae issuers in the event of market stress or a severe economic downturn.
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MBA Opens Doors Foundation Welcomes Success Mortgage Partners’ Owen Lee And Philanthropist Mary Clarke Stevens To Board Of Directors
The Mortgage Bankers Association’s (MBA) Opens Doors Foundation (Opens Doors) welcomed Owen Lee, 2025 MBA Vice Chair and CEO of Success Mortgage Partners (SMP), and philanthropist Mary Clarke Stevens to its Board of Directors. Opens Doors provides mortgage and rental assistance to families with critically ill or injured children, allowing parents and guardians to be by a child’s side during treatment, without fear of jeopardizing their home.
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MCT And FICO Collaborate To Bring Predictive FICO® Score 10 T To Secondary Mortgage Marketplace
Mortgage Capital Trading, Inc. (MCT) and FICO have announced a strategic collaboration to integrate FICO® Score 10 T for mortgage asset buyers and sellers on MCT Marketplace. The firms anticipate that mortgage lenders and investors transacting on the largest mortgage asset exchange for the U.S. secondary market, MCT Marketplace, will benefit by leveraging FICO Score 10 T, the company’s newest, most innovative and most predictive scoring model.
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