Origination

Raising the capital gains tax and code changes could have more of an impact on the public debt market than rising interest rates, according to a panelist at the Urban Land Institute's Spring event.

Purchase loan volume also increased, as borrowers tried to take advantage of rate dips across all loan types

The move formalizes the use of the Rocket Mortgage moniker, which has been a major part of the company’s branding since 2016.

Collectors are mulling a procedural overhaul after a three-judge panel said the practice of using vendors to inform consumers about outstanding debts is illegal. The case may also complicate the CFPB's upcoming rule on electronic messaging.

It’s getting easier to close bigger loans for higher-priced properties, but credit is expanding slower for first-time buyers.

Despite a 1Q decline in origination volume, Chairman Mat Ishbia is optimistic for the second quarter, saying the company received 17,000 more submissions in April's higher interest rate environment than it had in February.

What may be a victory in UWM founder Mat Ishbia's eyes is a loss for borrowers, brokers and the free market in the long term, writes the co-founder of CASE, Consumer Action for a Strong Economy.

The total number of loans in this category dropped 11 basis points from week to week according to the Mortgage Bankers Association. Meanwhile, the amount of unpaid balance in forbearance dropped almost 23% since the start of the year, a separate report from Black Knight found.

While the first quarter is typically the weakest period for the title business, the sector benefited from strong refinance volumes that were driven by low interest rates.

The company is formally launching a new “non-mortgage” unit that will provide small loans for home improvement projects.