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First Republic Bank Seized, Sold To JPMorgan

FDIC estimated that the second-largest bank failure in U.S. history will cost Deposit Insurance Fund $13 billion.

Regulation and Compliance
NYSE To Delist Impac Mortgage For Non-Compliance

Company says it can't meet standards and won't appeal decision.

Non-QM
Go Mortgage Welcomes New Chief Marketing Officer

Jessica Manna has over 20 years of experience in marketing and branding.

People On The Move
Judge Approves Liquidation Plan For RMIT

Decision OK'd after one-day delay for reverse mortgage lender to provide additional funding information.

Reverse
Courts
Megastar Financial Corp. Names New President

Mike Aberle, a former Bank of America exec, joins Denver-based mortgage lender.

People On The Move
CFPB Issues Rule To Facilitate Wind Down Of LIBOR

Interim final rule contains updates to reflect a new law and Federal Reserve Board regulation.

Regulation and Compliance
PennyMac Financial Q1 Profit Down 82.5% YOY

Loan originations are down but servicing portfolio continues to grow.

Analysis and Data
Lack Of Inventory Keeping Home Prices From Falling Faster: Redfin

For the four-week period ended April 23, new listings of homes for sale fell 22.4%.

Analysis and Data
Report: Homebuyer Assistance Programs Increased Slightly In Q1

Down Payment Resource survey finds programs rose 0.5%, and that a majority are forgivable.

Analysis and Data
Fitch Rates Non-QM RMBS Offering With Loans By Acra Lending, LoanStream

BRAVO Residential Funding Trust 2023-NQM3 is supported by 674 loans with a balance of $302 million.

Non-QM