Former MBA leader Matt Jones nominated for FHA commissioner
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Why California brokers are finding more non-QM deals than anywhere else in the country
Mike Pearson (pictured top), SVP of business development at AD Mortgage, said the growth reflects a combination of borrower demographics, insurance conditions, and property economics that have made California unusually well-suited for alternative lending. “California was already a great non-QM market,” Pearson told Mortgage Professional America. “But then you throw in these additional factors, and…
West One makes series of appointments to short-term bridging division
West One has expanded its short-term division sales team with the appointment of four new hires as the lender looks to build its bridging loan proposition. The new appointments are Niamh Downey, head of internal sales, Lux Mathiy, telephone business development manager (BDM), Vijay Varu, business development executive covering East London and Essex, and…
Govt clarifies UPI to remain free; MDR may apply to large merchants later | Finance News
The government has clarified that transactions made through Unified Payments Interface (UPI) will continue to remain free for users. It further stated that a merchant discount rate (MDR) on UPI will only apply to a ‘limited set of merchant transactions over a certain threshold’ at a fee lower than credit and debit…
China Imposes New Tax Rules on Offshore Trusts
On July 24, 2026, China’s Ministry of Finance and State Taxation Administration issued landmark announcements that establish a comprehensive framework for imposing China’s individual income tax at a 20% rate on residents of China who transfer or have transferred property to or who receive distributions from offshore trusts (the New Rules). The issuance of the…
Stock Market Today, Aug. 6: Trade Desk Plummets After Hours on Weak Q2 Results
Trade Desk (NASDAQ:TTD), a cloud-based programmatic advertising platform for data-driven digital ad buyers, closed at $17.67, down 6.80%. Investors sold shares throughout the day ahead of Q2 results, and things got worse after hours as the company reported dismal results. As of 5 p.m. ET, TTD stock is down 22%. Trading volume reached 49.5M shares,…
UWM plunges into the red in Q2 after $450m+ net loss
The quarter’s net loss — compared with net income of $170.4 million in the first quarter and $314.5 million in the second quarter of 2025 — was driven primarily by a hedge-related event tied to UWM’s failed bid to acquire Two Harbors Investment Corp. CrossCountry Mortgage ultimately secured that deal. “It was a quarter-specific mark-to-market impact…
