Industry News from National Mortgage News

Even with the positive news when it came to income, two of the big four underwriters had their earnings outlook slashed, while a third received an upgrade.

An acquisition this year could be one in a line of other future deals, potentially involving lenders or commercial real estate firms, Ellington executives said.

If the deal is completed, the companies will form the sixth-largest publicly traded homebuilder in the U.S. with about $6.6 billion in combined revenue.

The lender posted another deep eight-figure loss in the second quarter, and will miss a breakeven goal later this year, interim CEO Daniel Lewis said.

Its success in a tough quarter was not just financial as it gained market share in both purchase and refinance volume to regain the No. 1 originator slot.

After shedding nearly 30% of its workforce in 2022, Envoy has leaned into a referral- and affiliate-based business model through strategic investments.

Record lending drove a top-line gain on the year but one-time costs from reverse mortgage servicing sales and negative fair value changes hurt the bottom line.

The lender disclosed a big investment, plus hefty, albeit declining, origination volume but revealed a major hedge-related net loss it blamed on the failed bid.

The online lender said its national bank will become the "primary originator," displacing the banks that are lenders of record. Loan buyers keep their role.

About 7% of Zillow's workforce was let go, one of the steepest cuts in company history, trailing a 25% slice following the closing of Zillow Offers in 2021.

The deal wraps up the transformation efforts Radian announced when it agreed to acquire specialty insurer Inigo and divest the non-mortgage insurance units.

In a Facebook post last week, CEO Mike Kortas offered loanDepot loans officers who switch over to NEXA a one year membership for Nexa100 and a signing bonus.

The reverse mortgage lender's net income fell 136% from $80 million year over year in the second quarter, but still increased funded volume by 21%.

The lender's loss shrank to $6.6 million, but a rate-driven servicing valuation gain drove much of it as adjusted losses widened annually.

The real-estate investment trust affiliate has been focusing on making more funding available for new loans but also seeks to hold the line on credit quality.

The competitive and controversial leader, who will stay on the board, oversaw rapid growth but also a massive downsizing, and a notorious mass firing over Zoom.

The deal bolsters Zions' ability to serve multifamily customers and creates a natural extension of its affordable housing lending program, management said.

The move builds on MeridianLink's lending lifecycle strategy, enabling institutions to engage with borrowers before, during and after the lending decision.

The merger was supposed to close on Aug. 3, but an approval was not received in time, although regulatory certainty was a selling point of the CrossCountry bid.

The investment is expected to bring a 40% increase to Chase Home Lending's mortgage capacity, with the addition of 850 new advisors, the company said.