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Lee Cove, former divisional vice president at Caliber, is being accused of bringing over 150 employees to Cardinal Financial in 2022.

A greater number of refinances, particularly in the government market, led overall volumes higher, the Mortgage Bankers Association said.

In an address on Tuesday, economic advisor Lael Brainard also discussed the controversy surrounding the president's proposed title waiver program.

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

Company executives are counting on Guild's recent acquisitions to buoy business once the market normalizes.

The lender and servicer is still in the red but trimmed its expenses, and overall losses, significantly in 2023.

Voters approved Proposition C, which offers a tax break for developers to convert up to 5 million square feet of commercial space by 2030.

Some mortgage companies had to write down values in the fourth quarter due to increased prepayment risk, but many loans haven't been exposed to that concern.

The American Land Title Association, which represents the title insurance industry, argued that the program would not cut costs for those who really needed it.

The attack is one of three major incidents the lender has suffered in the past three years.