The company also added a new marketing executive to drive growth, with current expansion coming after it also secured an origination purchase deal last month.
Borrowers who worked with third party originators last year will save on average over $10,000 over the life of their loan, according to an analysis of public data.
The bank's broader challenges, which include a run on deposits and difficulty selling loans without realizing losses, could affect the rating agency's assessment of its servicing.
A federal judge in San Francisco ordered a temporary halt to reduction in force orders issued by the Office of Management and Budget during the government shutdown, while OMB Director Russell Vought has said he expects to lay off more than 10,000 federal workers.
The megalender is accusing a nearby brokerage of skirting labor laws and avoiding significant overhead costs in misclassifying hundreds of employees.
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Treasury Secretary Scott Bessent said the Trump administration may declare a national housing emergency this fall as the White House looks to highlight key issues for midterm campaign voters.
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More than 450 economists signed an open letter backing Cook, saying there is a high bar for removing Fed governors and that elected officials should refrain from actions that erode the central bank's independence.
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Orlando-based Cogent Bank has hired a team to finance single-tenant net lease properties, an asset class characterized by exceptional credit quality.
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David Lazowski, president of national recruiting and growth, talks about Fairway's aim of being an end-to-end provider through its Home.com website.
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Most big banks saw modest reductions in their requirements following this year's stress tests. The results come as the Fed prepares to smooth year-to-year swings with a new averaging rule.
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The D.C. District Court held a hearing this morning and defendants filed briefs in a case to determine whether Federal Reserve Gov. Lisa Cook will remain on the Federal Reserve Board after her ostensible firing by President Trump earlier this week. No ruling was issued, but one is expected before the FOMC votes in mid-September.
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A fine levied against a relatively small lender shows that capitulating to the demands of staff on matters of lawful loan officer compensation is not a risk worth taking.
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Fannie Mae has entered into deals with JPMorgan Chase and other companies that transfer some of the credit-loss risk on mortgage-backed securities to investors. Not only do these deals reduce the danger that taxpayers could be forced to cover the GSEs losses, they may help make mortgages more affordable.
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An originator census helps lenders understand the makeup of their origination teams, giving them insight into exactly how their team is working and how it stacks up against other teams in the industry.
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ON-DEMAND VIDEOMonetary policy remains the key to the markets. The Federal Open Market Committee predicts one rate cut in 2026, but the panel will get a lot of data before
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ON-DEMAND VIDEOWith the government reopened and data flowing, the FOMC may cut rates again in Dec. Steve Skancke, Chief Economic Advisor at Keel Point, will break down the mee
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ON-DEMAND VIDEOWill the Federal Reserve cut rates in October? BNP Paribas Chief U.S. Economist James Egelhof discusses the meeting and Chair Jerome Powell's press conference.
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