Origination

With Tidalwave receiving its first approvals for integrations with automated underwriting systems, its CEO explains why the current environment represents a good opportunity for a new mortgage startup.

But the purchase business that brings in three times the fee size as refinancings will be the driver of the improvement for the publicly traded title underwriters.

REV Federal Credit Union in suburban Charleston, South Carolina, plans to acquire First Neighborhood Bank in West Virginia. It marks the 15th deal this year involving a credit union buying a bank, closing in on 2022's record of 16 deals.

The new offering from United Wholesale Mortgage replaces a July through Labor Day promotion that only covered certain FHA and VA refinance products.

Steady purchase demand still led to a positive August according to the Mortgage Bankers Association.

In a little over a month, the company's newly appointed chief strategy officer has built out a six-person strong recruiting team.

Servicers saw their retention rate fall to the second-lowest level in 17 years, according to ICE Mortgage Technology.

Melody Taylor, the executive director of the Property Appraisal and Valuation Equity task force, said the interagency group went above and beyond expectations. She also defended it against common attacks from working appraisers.

Trimont CEO Bill Sexton acknowledges that a "daunting" volume of commercial real estate loans need to be refinanced in the next few years. But he says nonbank lenders are well equipped to provide financing that will allow troubled buildings to be reimagined.

The case over a federal investigation is unrelated to the trade group's recent commissions changes.