Origination

The 60-person group, headed by Marc Wadman, originates loans in Colorado, Georgia, Kansas, Louisiana, Missouri, South Carolina and Texas.

High interest rates and affordability concerns continue to suppress purchase demand, though, leading overall numbers down again last week, the Mortgage Bankers Association reported.

Rocket Rewards is the latest marketing initiative from the mortgage giant following the introduction of home equity loans and a monthly payment reduction offer earlier this year.

The company, which evolved into a refinance-focused call center after a disastrous move into reverse mortgages, reportedly informed employees of the closure on Oct. 14.

That amount of consolidation would be a leap from the previous three-decade high of 33 in 2018, according to Stratmor.

The starter home is becoming a myth for many first-time home buyers in the Sacramento market.

Problems with the closing protection letter are the predominant cause of those errors, a FundingShield report determined.

Major efforts are underway to eliminate discriminatory practices in property valuations.

A former director of digital turned enterprise consultant offers a perspective on how things could have gone differently for the lender that recently exited the forward-mortgage business.