Sun West files new lawsuit against FNB over reverse mortgage repurchases
Sun West Mortgage Co. (SWM) has filed a lawsuit against First National Bank of Pennsylvania (FNB) for failing to repurchase two reverse mortgages worth more than $850,000 from Fannie Mae, alleging a breach of a 2017 settlement agreement. The case involves reverse mortgages transferred from a bank ac
NEXA expands lawsuit against former employee, adds defendants
NEXA Lending is continuing its legal battle against former employee Kristine Wake and has expanded its lawsuit, alleging that Wake and others misappropriated trade secrets, violated contracts and attempted to recruit NEXA employees to a competitor. The original suit, filed in May 2025 in the U.S. Di
Mortgage spreads hit lowest level in years, keeping rates near 6%
The unsung hero of the housing market in 2025 has been the improvement in mortgage spreads, because without the spreads improving as much as they have, mortgage rates would not have gotten near 6% this year. I forecast that mortgage spreads should improve by 0.27%-0.41% this year, from a 2.54% avera
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