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“In looking at eight currently available proprietary RM products, there is a distinct relationship between HECM growth rates and proprietary product availability,” Reverse Market Insight said.

The promotion offers rate cuts as much as 25 basis points on new-home purchases as well as rate-and-term and cash-out refinance loans from May 4 through May 17.

The litigants, with some of the industry’s deepest pockets, may be filing the rare cases to flag and potentially punish bad brokers, one expert said.

The combination adds to a wave of broader merger and acquisition activity that includes an ongoing bidding war over RoundPoint Mortgage owner Two Harbors

The top bullet point in Two Harbors’ rejection notice is the Mizuho credit facility does not constitute committed financing for UWM to pay for the deal.

Markets Hit by Glut of Escalation Headlines

Monday’s trading session ended up being as simple as it was unpleasant. Bonds lost ground somewhat sharply as war-related headlines kept adding up to additional escalation. Highlights include overnight reports of Iran hitting a U.S. warship with missiles, multiple reports of UAE air defenses being activated, and damage/fire at a UAE oil export terminal. While bonds had a few moments of independence, they were broadly driven by rising oil prices associated with the aforementioned headlines.

Econ Data / Events

ISM Manufacturing Employment (Apr)

46.4 vs 49 f’cast, 48.7 prev

ISM Manufacturing PMI (Apr)

52.7 vs 53 f’cast, 52.7 prev

ISM Mfg Prices Paid (Apr)

84.6 vs 80 f’cast, 78.3 prev

Market Movement Recap

09:20 AM moderately weaker overnight. 10yr up 3.5bps at 4.41 and MBS down 7 ticks (.22).

11:31 AM Weakest levels after headlines regarding Iran attacking UAE. MBS down 3/8ths and 10yr up 6bps at 4.435

02:23 PM sideways just off weakest levels. MBS down half a point and 10yr up 7.1bps at 4.447

Mordor Intelligence expects the manufactured homes market size to expand from $28.5 billion in 2025 to $30.5 billion this year, its latest report found.

More than three-quarters of brokers are using popular AI platforms, but application of lender-specific software lags considerably, according to AD Mortgage.

Fannie Mae and Freddie Mac’s support for the market lessened the impact, as could bank capital reform, and the company’s normalized results outperformed.