United Companies Financial Corp., Baton Rouge, La. has reported that it has reached an agreement with parties involved in its bankruptcy proceedings that supports a modified plan of reorganization. Under the agreements, certain objections to the sale of United Companies' whole loan portfolio, residuals, other interests, and servicing rights to EMC Mortgage Corp. have been withdrawn. A voting deadline for the modified plan or reorganization and a hearing to consider it are slated for mid-September. United Companies' website is http://www.unitedcompanies.com/.
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The 250 top mortgage originators in 2025 brought in high volumes despite less than ideal conditions. Check back in the following days for 150-51, the top 50 and the final full list, with further cuts of the data to be published thereafter.
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A National Mortgage News/Snapdocs survey of 100 lenders found 90% use some form of what could be considered a digital closing, up from 74% two-years ago.
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The state has largely solved for the industry's biggest concerns but the broader secondary mortgage market could still have some additional responsibilities.
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In its latest financial stability report, the Federal Reserve found that asset prices continue to exceed underlying fundamentals and leverage levels remain high, especially by hedge funds.
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The Long Island-based regional bank, which reported another quarterly loss Friday, continues to hire in the commercial-and-industrial lending sphere as it seeks to diversify its commercial real estate-heavy business.
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The lender's parent also said it is actively in preparation to move forward on plans to unlock equity value in 2025, with a Newrez spinoff among its options.
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