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Also, Finance of America, SimpleNexus alums find new homes, and Supreme Lending lands leading mortgage technology expert.

The company spent the last two months cutting sales, marketing and payroll expenses but couldn't achieve a breakeven point, its CEO said.

The Consumer Financial Protection Bureau's data-access rule could create an uneven playing field because banks and credit unions are examined by regulators but hundreds of nonbank fintechs are not.

The company reported its seventh consecutive quarter of record adjusted net revenue.

Average scores remain unchanged but signs of payment stress keep emerging, with Fannie Mae's serious delinquency rate up for the first time since August 2020.

This move comes at a time when the largest HECM producer sold its operations to a rival and another filed for bankruptcy.

The Texas-based company is adapting to "members' needs and changes in the marketplace," which resulted in a scale down in some divisions, a spokesman said.

Despite 2022's slew of interest-rate hikes from Chair Powell and colleagues, financial conditions are the loosest since last February as investors bet fading inflation will allow the central bank to soon cease raising borrowing costs and then cut them later this year.

The California-based lender announced an asset purchase of Lend Smart Mortgage, which has close to 30 branches nationwide.

The potential class of 140 impacted professionals is entitled to damages of at least $43 million, an attorney wrote.