ABN Amro Mortgage of Michigan -- which is now owned by Citigroup -- is expected to hold town hall meetings at several company sites Thursday to announce a companywide restructuring plan, industry sources have told MortgageWire.A Citigroup spokeswoman said she had no information to provide concerning ABN Amro. Citigroup confirmed early Wednesday morning that it will cut 17,000 positions worldwide, but it offered no breakdowns on how it would affect individual business units. It also said it would move 9,500 jobs to "lower-cost" locations domestically and offshore.
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Higher utilization and aggregate excess payments point to pressure, according to TransUnion. Debt-to-income averages remain below traditional mortgage caps.
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Rocket, United Wholesale Mortgage and Pennymac said they will use the new government-sponsored enterprise credit metric as large lenders get on board.
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Meet the top loan originators in the 28th edition of National Mortgage News' annual ranking and learn how they approach purchase business.
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One-time Rocket exec Mike Fawaz founded brokerage and tech firm Origna8 with his former adversary's backing, which both say will enable it to quickly scale.
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Federal Reserve Chair Jerome Powell told reporters Wednesday that he would remain on the Fed board after his term as chair expires next month, resolving the last and most significant open question about his departure and the onset of Kevin Warsh's leadership at the central bank.
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President Biden had issued a rule in 2024 requiring newly constructed homes to abide by an energy mandate to be eligible for FHA- or USDA-backed mortgages.
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