After the deal closes, Sculptor will operate as a subsidiary of Rithm and will continue to be led by CIO Jimmy Levin...

Peter Boomer, who recently retired from PNC, may have a new job...

MBS trading increased in June. That’s the good news. But for trading to really take off, the Fed needs to cut rates, an unlikely prospect until next year.

It’s all how you look at it. Right? The early results show a turnaround in bank mortgage lending on a sequential basis for the second quarter but ugly drops compared to a year ago. The problem: 7% mortgages.

If ever there was a Horatio Alger story for the mortgage industry it’s Angelo Mozilo, the co-founder of Countrywide Financial. The recently deceased Mozilo proved that nonbanks could compete with the megabanks. Then the subprime crisis happened.

Second quarter mortgage banking revenue at USB came in at $161 million compared to $128 million in 1Q23.

At June 30, BofA held $228.8 billion of first-lien residential mortgages on its books. The average yield: 2.98%...

Up until the subprime crisis, Mozilo was one of the most admired and well-respected residential lending executives in the nation.

Three veteran sales executives bolted Movement for Summit...

Is the mortgage REIT sector in for a turnaround? Maybe so, but some companies will be paying more money to preferred shareholders who bought variable-rate debt that reprices in 2024.