Industry News from National Mortgage News

Rocket Companies and Mesa have both launched credit cards geared that offer homeowners perks and points for paying their mortgage and buying housing-related items.

The company, which already offers services in 41 states, through the Summit Mortgage Training buy gets a foothold in New Jersey and Pennsylvania.

The reverse stock split, consolidating eight shares into one, is designed to bring the Luxembourg-based company back into listing compliance on Nasdaq.

This potential transaction would be part of a broader trend of mortgage lenders and servicing players converging, such as Rocket's recent acquisition of Mr. Cooper.

A recent deal involving a troubled Texas bank shows that even the most lopsided depository can find an exit.

Alanna McCargo said her return comes at a time when there are "significant policy challenges ahead for affordability, community investment and inclusive finance."

The federal official told a group of bank supervisors that the move, which Democrats oppose and the industry has mixed views on, will give them more autonomy.

In remarks at a Mortgage Bankers Association conference, the trade group's CEO also acknowledged the need for some guardrails to remain in place.

Rocket Companies and Redfin argue in court filings that a lawsuit seeking to delay their merger is motivated by the plaintiff's personal gain, not concern for investors.

The numbers suggest Rocket Mortgage's acquisition of Mr. Cooper won't add enough dollar volume to outpace its closest competitor but they also show the deal has other benefits.

Rocktop Management anticipates rising loan origination volume and increasing borrower distress, driving more servicing sales — key reasons behind its acquisition of Incenter Capital Advisors.

Servicing profit offset origination losses for some companies, but more than 40% were unprofitable, according to the Mortgage Bankers Association.

CSBS hires veteran regulatory expert, Selene welcomes two new executives, Polly grows C-suite, Leaderone finds new president, plus more mortgage moves.

One of the tools introduced is a voicebot, dubbed Mia, which helps with consumer retention by making calls to check on clients for UWM broker partners.

The move was necessary for Dark Matter in order for it to align the size of its workforce with current mortgage market realities, CEO Sean Dugan said.

The plaintiff is asking for a Seattle federal court to postpone the Redfin shareholder vote, scheduled for June 4, until the company disseminates supplemental information curing the alleged omissions in the proxy filing.

Numbers jumped after the expiration of a moratorium at the end of 2024, but rates of foreclosure rose across all loan types, the Mortgage Bankers Association said.

Lower is acquiring a top-five ranked real estate portal to create an "end-to-end homeownership platform" to rival Rocket Mortgage.

The company is positioning its Tinman platform as a serious industry competitor and suggests it's eying product costs of around $1,500 per loan.

Close to 300 former employees could be eligible for the settlement once it is officially approved later this year.