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The state joins Illinois and Massachusetts in subjecting nondepository companies to state-level Community Reinvestment Act requirements.

The company, which was accused of cutting corners in originations by a former top executive, produced $32 billion in the third quarter and is guiding between $26 billion and $31 billion in the fourth.

When added to other staffing and acquisitions additions since year-end 2019, the mortgage services provider has more than tripled the company’s headcount.

Recent offerings come with lower age-eligibility requirements compared to traditional government-backed home equity conversion mortgages.

The mortgage giant’s net worth of $42 billion at the end of the quarter was more than double what it was a year earlier. CEO Hugh Frater said that financial strength puts the company on better footing to support affordable housing goals outlined by the Federal Housing Finance Agency.

The move by the agency, which is an arm of the Department of Housing and Urban Development, will help further efforts to give servicers more leeway to modify mortgage terms.

Rocket, already the nation's No. 1 lender, is looking to increase market share

Numbers decreased across all loan types, with the largest decline among GSE-backed mortgages.

The combined refinance and purchase total was nearly double the average quarterly volume logged before the pandemic, the company said in its third-quarter earnings call.

The bureau’s new director named former Obama administration officials Lorelei Salas and Eric Halperin, respectively, as the heads of supervision policy and enforcement.