Servicing

The company posted its best quarter for funded loan volume and shared other green shoots including greater margins on less reverse mortgage business.

The latest case comes after at least three other zombie lawsuits in the past year, with the owner of the loan in question claiming $173,000 in past-due interest.

Newer automation that can serve as a wraparound to existing technology can cut servicing costs in a competitive industry, according to fintech executives.

The acquisition complements existing lending channels at Carrington and also adds Reliance's full servicing portfolio to its platform, the company said.

Rocket Companies lost $124 million on a GAAP basis, but its management celebrated milestones regarding its Redfin and Mr. Cooper acquisitions.

Instances of miscommunication between servicers and borrowers have declined, but some warn that CFPB stepping back from enforcement could create oversight gaps.

Company officials credited recent mortgage rate pullbacks, a nonagency servicing partnership and Improvements in technology behind recent momentum.

The government-sponsored enterprise's bottom line results, like Fannie Mae's, came in above the previous quarter's but below year-ago numbers.

Late-stage mortgage delinquencies hit the highest level since January 2020 in September, a new report from VantageScore found.

Lenders and investors say the new rules will increase the cost of financing and limit homeowners' access to equity by curbing the enforceability of contracts.