CoreLogic, a competitor of Lender Processing Services, had the second the largest percentage loss among Mortgage Industry Equity Composite stocks on Monday.
The company’s shares lost nearly 2% from its Friday close. This is the second trading day
MGIC Investment Corp had the largest loss at slightly over 2%.
PennyMac Mortgage Investment Trust gained 2.4%, followed by Bank of America at 1.5%. The other gainers in the MIEC were PHH, Dime Community and Fiserv.
Adam Boyd, a veteran financial services executive with more than 25 years of experience, will head the growth of Rate's consumer lending platform.
Washington State charged Newrez after a consumer investigation, with the notice following recent enforcement action against Luminate Home Loans.
Mike Kortas will be adding a separate mortgage servicing company and hiring NEXA loan officers to assist with the process and give them customer insights.
The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.
The product preserves borrower's first mortgage, and its potentially lower mortgage rate, without requiring the new monthly payments of a traditional HELOC, FOA says.
The White House's proposed 2027 budget would slash funding to the Community Development Financial Institutions Fund, the latest in an ongoing campaign from the Trump administration to dismantle the politically popular program.
