The most-read mortgage news stories of the year

As mortgage players reckoned with the market's massive slowdown, the industry's biggest brands and most notable names piqued the interest of National Mortgage News readers. While many lawsuits rocked the mortgage landscape, readers paid closer attention to the ideas, strategies and advice from veterans who've survived the difficult times of years past too. 

Here are the most-read stories from National Mortgage News over the past year.

Dan Gilbert's Rocket Companies Opens Higher in Muted IPO Debut
Emily Elconin/Bloomberg

Former Rocket VP accuses execs of bad behavior in lawsuit

The largest mortgage lender in America allegedly fired a vice president while he was on medical leave, the crux of a lawsuit filed in October. The complaint also alleges hostile treatment from the firm's top executives.

Read the full story here.
Department of Housing and Urban Development
Andrew Harrer/Bloomberg

FHA greenlights stand-alone 40-year modification

The Federal Housing Administration in March changed its policy to allow borrowers the long-term modification, easing affordability for homeowners facing long-term reductions in income.

Read the full story here.
Real estate business concept A rental company employee is calcul
ArLawKa - stock.adobe.com

Title insurance vs. alternatives: Considering the claims process

Attorney title opinion letters are becoming increasingly available, but how do they stack up against traditional title insurance? National Mortgage News spoke to professionals behind both methods, and a separate expert in the business to weigh the strengths of each option.

Read the full story here.
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LoanDepot sues Movement Mortgage for poaching loan officers

The megalender and servicer accused its rival of violating the Defend Trade Secrets Act in poaching over 25 employees over a three-month span in late 2021. Far from the only raiding complaint among mortgage competitors, LoanDepot is also entangled in similar complaints against another massive lender.

Read the full story here.
Katherine Campbell

AI will kill (some) mortgage jobs. One exec says that’s a good thing

Artificial intelligence will take care of the dirty work and provide more satisfaction for employees, Katherine Campbell, former AnnieMac Home Mortgage executive, told National Mortgage News. The industry veteran, leading her new Leopard Jobs consulting firm, talks about the AI impact on jobs and why mortgage professionals will benefit.

Read the full story here.
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Fannie Mae’s chief economist unpacks divergent views on housing

Doug Duncan, chief economist at the GSE, told National Mortgage News in a wide-ranging September interview what he's seeing regarding the return-to-work effect on housing, loan performance and technology.

Read the full story here.
Mortgage Rates Rise For Seventh Week To Highest In 16 Years
Chet Strange/Bloomberg

CrossCountry Mortgage executive discusses expansion

Brett Dillenberg's West Coast team originated over $850 million in volume last year and sought to surpass a billion dollars in 2023. The former LendUS leader describes his team's transition under the massive CrossCountry umbrella and how he planned to continue expanding his operations.

Read the full story here.
"Overdue Unpaid Bills on Table with Calculator and Cheque Book
Pixsooz - stock.adobe.com

HomeTown Lenders not paying rent, utilities, employees allege

The Alabama-based lender endured a chaotic beginning to the year, with accusations of unpaid bills, irregular paychecks and vendors stepping away from the firm. CEO William Taylor in May thanked branch managers for paying rent on behalf of the company, one visible sign of the distress at HomeTown.

Read the full story here.
April Home Sales Rise As Buyers Take Advantage Of Expiring Gov't Tax Credit
Justin Sullivan/Photographer: Justin Sullivan/Ge

An industry veteran’s take on the “chaotic” mortgage market

Paul Hindman, a longtime consultant for top mortgage players, shares his take on the problems besetting lenders as the year closes. Originators should handle layoffs sensitively, Hindman advises, while loan officers themselves should develop relationships for opportunities that are still present.

Read the full story here.
A woman holding magnifying glass and checking house model .Real Estate House Appraisal And Inspection concept.
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Scratch-and-dent volume appears to be on the rise

The GSEs this past spring sent more mortgages with underwriting dings back to the originator, fueling the scratch-and-dent marketplace. Sellers at the time however were unhappy with prices, and securitization options seemed scant.

Read the full story here.
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What Fannie Mae is doing about climate risk’s impact on mortgages

Fannie Mae Chief Climate Officer Tim Judge details the work he and the government-sponsored enterprise have put in to address the natural disaster impact on its massive mortgage portfolio. The GSE is working to assess the accuracy of internal and external data and modeling, while staging efforts to engage with consumers.

Read the full story here.
Consultation and conference of professional businesswoman and Male lawyers working and discussion having at law firm in office. Concepts of law, Judge gavel with scales of justice
Freedomz - stock.adobe.com

Mr. Cooper’s cybersecurity incident triggers class-action lawsuits

Hackers attacked the megaservicer on Halloween with repercussions. While Mr. Cooper had since successfully rebooted its systems, it now faces at least two class action lawsuits accusing the firm of failing to protect personally identifiable information.

Read the full story here.
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Glenn Stearns on making the mortgage industry 'not so callous'

One of the industry's biggest names tells National Mortgage News why the business continues to pull at his heart strings, and how he's developing his new firm, Kind Lending, for the industry's new era. Stearns also dishes on lessons from his eponymous company which he stepped away from.

Read the full story here.
Double exposure of table with computer on background and data theme drawing. Concept of innovation.
peshkova - stock.adobe.com

5 AI mortgage tools that have launched post-ChatGPT

Firms serving the home loan industry debuted technologies inspired by the popular generative artificial intelligence chatbot which launched last November. The tools handle a range of functions for underwriting and compliance tasks.

Read the full story here.
Justice concept. Themis statue and judge's gavel on the rustic w
zolnierek - stock.adobe.com

Former mortgage staff allege lenders stiffed them on paychecks

Dozens of mortgage professionals have sued their former employers for allegedly failing to pay them overtime, and in some cases the minimum wage, during the market's downswing in the second half of 2022.

Read the full story here.
Key and house shaped keychain arrangement
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What you need to know about recent broker commission cases

A Kansas City jury this fall rocked the real estate world when it ruled in favor of home sellers challenging broker commission rules from the industry's leading brokerages. National Mortgage News broke down the issues in the case and what's at stake for the housing market.

Read the full story here.
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Mortgage M&A activity in 2022 and 2023: a list

Mortgage companies saw the depressed housing market as an opportune time for consolidation and took action, undertaking a record 42 mergers and acquisitions in 2022 and more in the past 12 months. Read on for more details about the movements by lenders, servicers and technology vendors.

Read the full story here.
David Stevens
Andrew Harrer/Bloomberg

Dave Stevens foresees the 'worst winter the industry has ever faced'

One of the industry's most venerated voices, in an interview with National Mortgage News, shared advice for mortgage players bracing for an especially rough market over the next few months. The former Federal Housing Administration commissioner also dived into his thoughts around climate change, outsourcing and housing policy.

Read the full story here.
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Bill Dallas on who’s winning and losing in mortgage today

The former Finance of America leader sat down with National Mortgage News and talked about the problems and solutions he discusses with lenders through his consulting role. Among other insights, Dallas described why the profit and loss model is killing origination shops and a "smart" approach to layoffs.

Read the full story here.
Close up Man checklist using bank of credit card by mobile phone and pay bills in the office
SASITHORN - stock.adobe.com

Mr. Cooper ‘pay-to-pay’ class action settlement gets first approval

A class of borrowers was on track to receive a $3.6 million settlement from Mr. Cooper over alleged unlawful servicing fees. The mortgage giant, according to a lawsuit, charged customers who paid their monthly mortgage obligations via phone or online, a practice which violated numerous state consumer laws. Mr. Cooper purportedly stopped such fees in 2018. 

Read the full story here.
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