Servicing

UWM, embroiled in an us-or-them feud when it comes to business partners working with Rocket, terminated its subservicing and sales deals with Mr. Cooper.

Regulators should approve the deal because post-merger, the servicing market remains fragmented and the mortgage origination business is even more dispersed.

Publicly traded lenders, including UWM, Rocket Mortgage and Guild Mortgage, saw personnel expenses increase significantly throughout last year.

The measure applies to mortgages closed in the months prior to the Southern California wildfires, which are now experiencing early-stage distress.

This transaction, following Rocket's purchase of Redfin, could be the start of the creation of large players to compete with the likes of Zillow.

The deal, expected to close by the end of 2025, will place Mr. Cooper CEO Jay Bray as president and CEO of Rocket Mortgage.

The federal district court order in Mississippi allows allegations of servicer responsibility for insurance shortcomings and excessive costs to proceed.

The most tangible concern is in the commercial real-estate market. But the rating agency's crystal ball is cloudy when it comes to single-family home loans.

Dugan is replacing Rich Gagliano, who is moving to executive chairman after 18 months in charge of the now stand-alone mortgage technology provider.

The homeowner who filed the suit claims he now owes over $160,000 in fees on a second mortgage, which was discharged in 2007.