United Wholesale Mortgage netted a victory in court this week when a Florida judge dismissed a 2021 antitrust case brought against the company by the Okavage Group.
Premier Plus Lending has announced that it launched a new division, Retirement Mortgage Solutions. The new division focuses on the needs of retired and elderly homeowners who wish to benefit from their property’s equity. It will be led by Joe Conrad, a 35-year mortgage industry veteran.
A&D Mortgage has announced new, increased loan limits for conventional conforming mortgages. For one-unit properties in the lower 48 states, the loan limit has been raised to $802,650. In Alaska and Hawaii, the limit for one-unit properties has been raised to more than $1.2 million.
Rithm Capital Corp., the parent company of NewRez, has announced the pricing of an underwritten public offering of 30 million shares of its common stock for gross proceeds of approximately $342.9 million, before deducting estimated underwriting discounts and commissions and estimated offering expenses. The company has also granted the underwriters an option for a period of 30 days to purchase up to an additional 4.5 million shares of common stock; those shares may be offered for sale from time to time in negotiated transactions at market prices. RIthm intends to use the net proceeds from this offering for general corporate purposes.
Simplist Technologies has announced the official launch of Sonar, a new comprehensive platform that integrates a loan origination system (LOS) with a point-of-sale (POS) system into one suite. Key features include artificial intelligence (AI) automation of tasks, collaboration of multiple users and scalable architecture, and firms can implement their branding and identity throughout the entire platform. The launch follows a beta phase with over 200 mortgage companies.
Loan management software fintech The Mortgage Office has announced a strategic partnership with CV3 Financial Services, under which CV3 will implement the loan servicing component of The Mortgage Office’s cloud-based platform to bring its loan servicing business in house.
Title Resources Group (TRG) has announced the acquisition of Doma Holdings, Inc. Doma’s underwriting division, Doma Title Insurance (DTI), is now a wholly owned subsidiary of TRG. Doma’s technology division, renamed Doma Technology LLC (Doma TechCo), will operate on a separately capitalized basis. TRG and Doma TechCo will operate as sister companies, with Centerbridge Partners, L.P., as the largest shareholder in TRG and, through a subsidiary, the majority owner of Doma TechCo. Hudson Structured Capital Management, which also participated in the transaction, will also hold a significant ownership stake in Doma TechCo. Additionally, LENX, the strategic investment arm of Lennar, has made an investment to become a minority owner of TRG.
